Many buyers believe they need a large down payment, but that's often not the case. Conventional, FHA, VA and USDA loans all offer low-down-payment options for eligible buyers. The right option depends on your credit, income, and the program that fits you best.

Generally 620 is the baseline for conventional loans, while FHA may allow lower scores. VA and USDA are more flexible and often don't have strict minimums. Higher scores can mean better rates and terms.

It depends on your income, debts, down payment, and current rates. Lenders look at your debt-to-income (DTI) ratio to gauge a comfortable payment. Getting pre-qualified with a loan officer is the best way to know — try our calculators on the homepage to start.

Closing costs typically run 2%–5% of the purchase price and include appraisal fees, title insurance, taxes, and lender fees. Sometimes sellers can cover part of these, and some programs offer assistance.

With a complete application, a loan officer can review your file quickly and help you get pre-qualified. A pre-approval letter, once issued after a full review, shows sellers you're serious before you shop.