A strong credit score gives many buyers confidence as they prepare to purchase a home. Good payment history and responsible credit use are valuable, but they do not guarantee approval. There are several other important factors that lenders review, and any one of them can slow down or stop the process.
One of the first questions homebuyers ask is how much they can afford to borrow. While the number may seem mysterious, lenders use a clear set of financial factors to decide how much you qualify for.
Understanding these factors can help you plan ahead, make smart choices, and feel confident as you start your homebuying journey.