If you are in the market to purchase a home, you likely need a mortgage. Understanding what it takes to qualify for a mortgage increases the likelihood of securing one. Your ability to get a mortgage depends on four factors: Your credit history Financial capacity Available capital Collateral Evaluating each factor helps determine whether you are ready to shop for a mortgage and purchase a home. 1. Credit Credit is the likelihood that you will pay back the home loan. You

Buying your first home is an exciting experience. Seeing your hard work result in homeownership is empowering. Like most people, you likely will need a mortgage to finance your home. Understanding the requirements helps make the process easier. Most lenders are willing to work with first-time homebuyers on credit requirements and down payments. This flexibility makes homeownership more accessible for more people. The following are requirements for buying your first home