To check mortgage eligibility, start by verifying your credit score (typically 620+ for conventional loans), calculate your debt-to-income (DTI) ratio ( aim for ≤43% for conforming loans), assess stable income (24 months of consistent earnings), and determine your down payment (3.5% for FHA loans). Pre-apply through a lender for a pre-approval letter, which strengthens your offer. Lenders also review employment history, asset liquidity, and property type.

Mortgage eligibility hinges on lenders assessing risk. A credit score below 620 increases denial chances by 50% (Federal Housing Finance Agency, 2023). DTI ratios exceeding 43% correlate with 25% higher rejection rates (Consumer Financial Protection Bureau, 2022), as high debt limits borrowing capacity. Down payments below 3.5% require mortgage insurance, raising costs.稳定收入 and recent employment gaps (beyond 2 years) reduce approval odds by 30% (U.S. Bank, 2023). Pre-approval letters, often required for offers, confirm eligibility and signal financial readiness to sellers. Data from the Mortgage Bankers Association shows 68% of rejected applicants had DTI above 45%, underscoring ratio importance. Lenders also prioritize liquid assets (e.g., savings, investments) to offset default risks. Compliance with these factors aligns with Fannie Mae and FHA guidelines, ensuring smoother loan processing.