Buying Your First Home? Start Here.
Most people think the first call should be to a Realtor.
The First Question You’ll Be Asked
“What is your budget?”
Not a guess. Not what a payment “feels like.” A real number based on real math.
That number comes from getting pre-qualified.
When You Speak With a Lender First, You Learn:
🏠 Your Buying Power
How much home you may qualify for.
💵 Your Estimated Payment
What your monthly obligation might look like.
📊 Your Required Down Payment
How much you’ll need upfront.
Why Talk to a Lender Before a Realtor?
It is not about pressure. It is about clarity.
Pre-Qualification Gives You Control
🎯 Clear Budget
You know the real number, not a guess.
🧠 Smart Shopping
You avoid looking at homes outside your range.
⚖ Stronger Offers
Sellers take you more seriously.
🔍 Fewer Surprises
You uncover credit or debt issues early.
How Mortgage Approval Really Works
There are four main factors lenders look at. Think of them as dials on a control board.
📊 Debt-to-Income (DTI)
How much of your monthly income goes toward debt. Most programs allow up to 50%. Lower is stronger.
🏡 Loan-to-Value (LTV)
How much you’re borrowing compared to the home price. Primary homes can go as high as 97%. Lower means more equity.
💳 Credit Score (FICO)
Your score affects your rate on a particular term on a particular loan type.
💰 Income Stability
Consistent, documentable income matters. Lenders verify trends, not just one month.
When one dial is weaker, another can sometimes be stronger. It’s not one number that decides everything. It’s the full picture.
Choose Your Path
Different loans exist for different situations. Explore what fits you.
🏦 Conventional
Great for strong credit and stable income. Backed by Fannie Mae and Freddie Mac.
🏠 FHA
Flexible credit guidelines. Lower down payment options.
🎖 VA
For eligible veterans. Zero down payment. No PMI.
🌾 USDA
For eligible rural areas. Zero down with income limits.
Fixed Rate vs Adjustable Rate
🔒 Fixed Rate
Your interest rate never changes. Stable payment. Predictable long term.
📈 Adjustable Rate
Starts lower. Can change over time. Better for shorter ownership plans.
Neither is “better.” It depends on how long you plan to stay and your comfort with change.
Before You Run the Numbers, Gather These
The calculator works best when you use real numbers. Not estimates. Not guesses.
💰 Monthly Gross Income
Your income before taxes. Include consistent salary, overtime, or documented self-employment income.
📄 Minimum Monthly Debt Payments
Look at your statements. Use the required minimum payment — not what you choose to pay.
🏡 Estimated Purchase Price
A realistic target range. Not your dream home. Not your lowest comfort zone.
💳 Estimated Credit Score (FICO)
Your score affects rate and program options. Use an estimate if needed.
Where to Get Your Credit Report
You can access your credit reports directly:
This calculator is for planning purposes only and does not guarantee approval.
Run Your Numbers
Important Information
This calculator provides an estimate for educational purposes only. It does not guarantee loan approval, interest rate, or payment amount.
Actual loan terms depend on verified income, credit score, assets, property type, occupancy, and current market conditions.
All loans subject to approval. Equal Housing Lender.
NMLS #2470811
If You Have A Question,
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A Hirsch Solution
Questions People Often Ask
Do I need perfect credit to buy a home?
No. Many loan programs allow lower credit scores. Your rate may vary, but options often exist.
What is a good debt-to-income ratio?
Most programs allow up to 50%. Lower ratios are stronger and may qualify for better terms.
How much do I need for a down payment?
Some programs allow as little as 3% down. VA and USDA may allow 0% for eligible buyers.
Does getting pre-qualified hurt my credit?
A soft pull does not affect your score. A full application may include a hard inquiry.
Should I talk to a lender before a Realtor?
Yes. Knowing your real budget helps you shop confidently and strengthens your offer.
Is this calculator my final approval?
No. It is a planning tool. Final approval requires verified documentation.
NMLS #2470811 | CRD #7439330
Content on this website is for educational purposes only and does not constitute financial, legal, tax advice, or a commitment to lend. For information specific to your situation, please call or schedule an appointment.
All loans subject to approval. Equal Housing Lender.
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