Compare your total score to the chart below. It shows how m uchhome may be in your price range along with a typical down payment.
Regardless of how you scored, you can apply for the mortgage or refinancing amount you have in mind. That's because our lending officers always try to find ways to approve loan requests, not look for reasons why they can't.
HOME BUYABILITY CHART
If Your Test Score is...
14 to 17 points: Typical Down Payment 10% on a mortgage of less than $60,000.
18 to 20 points: Typical Down Payment 10% on a mortgage $60,001 to $80,000.
21 to 24 points: Typical Down Payment 15% on a mortgage $80,001 to $100,000.
25 to 28 points: Typical Down Payment 20% on a mortgage $100,001 to $125,000.
29 to 31 points: Typical Down Payment 25% on a mortgage $125,001 to $150,000.
32 to 33 points: Typical Down Payment 25% on a mortgage $150,001 to $175,000.
Over 33 points: Typical Down Payment 25% on a mortgage over $200,000.
