🏠 Ready to Stop Renting and Start Owning?

I know some of you haven't gotten to the home-buying module yet, but if you're looking to purchase a home this year, you need to know exactly what mortgage companies are looking for.

Credit is your ultimate leverage, but when it comes to a mortgage, the banks aren't just looking at a number..they are looking at your financial "fitness".

If you want to use a home as a wealth bridge rather than a credit trap, you need to meet these general credentials to qualify:

📋 The Mortgage Checklist

• Credit Score: Generally, you’ll need a minimum score of 620 for conventional loans, though FHA loans can go lower.

• No Red Flags: There can be no unpaid collections, charge-offs, or repossessions on your credit report.

• Debt-to-Income (DTI) Ratio: Most lenders want to see a DTI of 43% or less. This means your total monthly debt payments divided by your gross monthly income.

• Income & Employment: You must show two years of consistent income and provide two years of tax returns, which the lender will verify directly with the IRS.

• Job Stability: Lenders look for no employment gaps. If you have switched companies, the move needs to be within the same career space to prove stability.

• Down Payment: While 20% is the gold standard to avoid private mortgage insurance (PMI), many programs allow as little as 3% to 3.5% down.

• Bank Reserves: Lenders need to see reserves (extra cash) in a bank account to ensure you can handle unexpected costs.

• Large Transfers: Any large transfers within the last 90 days are a major red flag unless you can provide documented evidence of a gift or a verified source of funds.

• Clean Payment History: A single 30-day late payment can tank your score by 100 points. Lenders want to see a "clean" history for at least the last 12–24 months.

🧠 The Strategy

That’s why fixing your credit is SO important BEFORE hitting submit on that mortgage application.

DON'T DELAY YOUR OWN HOME BUYING JOURNEY.

If you're looking for help, remember our Skool members get a discounted rate on our done-for-you service!

Are you planning on buying a primary residence this year, or are you looking for your first investment property?

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