Erase Debt Worries Mortgage Approval is Possible Today
Exploring Mortgage Options
Once you have a clearer picture of your financial health, it's time to explore mortgage options. Government-backed loans, such as FHA loans, can be more accessible for those with lower credit scores or higher DTI ratios. FHA loans require a minimum credit score of 580 with a 3.5% down payment, making them a viable option for many3.
Additionally, some lenders offer programs specifically designed to assist first-time homebuyers or those with significant debt. These programs often include financial counseling and flexible underwriting standards to accommodate unique financial situations.