Fundamento

What do I need to qualify for a mortgage?¿Qué necesito para calificar a una hipoteca?

Six answers and you get the loan paths that actually fit — credit thresholds, down-payment programs, and the routes that work without a Social Security number. Including the honest answer when the answer is "not yet."Seis respuestas y obtienes los caminos de crédito que realmente encajan — umbrales de puntaje, programas de cuota inicial y las rutas que funcionan sin número de Seguro Social. Incluida la respuesta honesta cuando la respuesta es "todavía no".

Your situationTu situación
Credit & savingsCrédito y ahorro
The purchaseLa compra

Programs to investigate

Start here

Conventional 97 / HomeReady / Home Possible

3% down · 620 minimum score

  • 3% down for first-time buyers (Conventional 97) — HomeReady and Home Possible add income-limited pricing breaks.
  • PMI is cancelable — you can request removal at 80% of the home’s original value, and it terminates automatically at 78% (unlike FHA insurance, which usually lasts the life of the loan).
  • Pricing improves in credit tiers; each ~20-point step up to 780 lowers your rate.

Watch out: HomeReady/Home Possible carry area income limits — your lender checks the address against the limit map.

FHA loan

3.5% down from a 580 score · 10% down from 500–579

  • The most forgiving mainstream path on credit history and debt-to-income ratios.
  • Allows manual underwriting with nontraditional credit — 12 months of on-time rent can substitute for a thin score.
  • Upfront (1.75%) plus annual mortgage insurance; with less than 10% down it typically stays for the life of the loan.

Watch out: Compare against conventional once your score passes ~680 — cancellable PMI usually wins from there.

USDA loan

0% down · eligible rural and suburban-fringe areas · income caps

  • No down payment in USDA-eligible areas — which include many suburban-fringe ZIP codes, not just farmland.
  • Household income must fall under the area cap (roughly 115% of the median).
  • Most lenders want a ~640 score for streamlined approval; below that expect manual underwriting.

Watch out: Check the property address on the USDA eligibility map before you fall in love with the house.

Down-payment assistance — TX

Home Sweet Texas · My First Texas Home · TSAHC / TDHCA

  • Grants and deferred second loans through two agencies; HUD-approved course required.
  • Most programs require a HUD-approved homebuyer course and a mid-600s score — and they stack on top of FHA, VA, or conventional loans.

Terms and funding change through the year — confirm the current sheet with the agency before you plan around it.

Program parameters as of July 2026 — thresholds and assistance funding move; verify current terms with your lender or state agency. This is orientation, not a preapproval.

The thresholds, side by side

ProgramMin. creditMin. downMortgage insuranceBuilt for
VANone official (~580–620 in practice)0%None — one-time funding feeMilitary families
FHA580 (500 with 10% down)3.5%Upfront + annual, usually life of loanThin or recovering credit
Conventional 976203%PMI, cancelable from 80% of original valueFirst-time buyers with fair credit
USDA~640 in practice0%Guarantee fee, cheaper than FHAEligible rural / suburban-fringe areas
ITINNo score required — alternative credit10–20%Varies by lenderTaxpayers without an SSN
Foreign nationalNo US credit required25–30%Varies by lenderBuyers without US residency

The documents every lender asks for

Two years of tax returns (filed under your SSN or ITIN), 30 days of pay stubs, 60 days of bank statements, government ID, and a gift letter for any gifted funds. Self-employed: two years of returns plus a current profit-and-loss. Having the folder ready is the single cheapest way to move fast when the right house appears.

Los umbrales, lado a lado

ProgramaPuntaje mín.Cuota inicial mín.Seguro hipotecarioPensado para
VASin mínimo oficial (~580–620 en la práctica)0%Ninguno — cuota única de financiamientoFamilias militares
FHA580 (500 con 10% de cuota inicial)3.5%Inicial + anual, usualmente toda la vida del préstamoCrédito corto o en recuperación
Convencional 976203%PMI, cancelable desde 80% del valor originalPrimeros compradores con crédito regular
USDA~640 en la práctica0%Cuota de garantía, más barata que FHAZonas rurales / periurbanas elegibles
ITINSin puntaje — crédito alternativo10–20%Varía por prestamistaContribuyentes sin SSN
Extranjero no residenteSin crédito en EE. UU.25–30%Varía por prestamistaCompradores sin residencia en EE. UU.

Los documentos que todo prestamista pide

Dos años de declaraciones de impuestos (con tu SSN o ITIN), 30 días de talones de pago, 60 días de estados bancarios, identificación oficial y carta de regalo para fondos regalados. Independientes: dos años de declaraciones más un estado de resultados actual. Tener la carpeta lista es la forma más barata de moverte rápido cuando aparece la casa correcta.

What this pathfinder doesn't doLo que esta guía no hace

It doesn't pull your credit, quote a rate, or preapprove you — and it can't see lender overlays, which routinely sit above the official floors shown here. Loan limits vary by county. Use it to walk into a lender conversation knowing which programs to ask for, in the order they fit.No consulta tu crédito, no cotiza tasa ni te preaprueba — y no ve los requisitos adicionales de cada prestamista, que suelen estar por encima de los pisos oficiales mostrados aquí. Los límites de préstamo varían por condado. Úsala para llegar a la conversación con el prestamista sabiendo qué programas pedir, en el orden en que encajan.

→ How much house can I afford?→ ¿Cuánto puedo pagar por una vivienda? · → What will the monthly payment be?→ ¿Cuánto será el pago mensual? · → First-buyer guided path→ Ruta guiada del primer comprador