: While 20% avoids private mortgage insurance (PMI), many first-time programs allow as little as 3% to 3.5% .
: A score of 740+ typically secures the best interest rates, while 620 is generally the minimum for conventional loans. Avoid opening new credit lines or making large purchases during this period.
Your first priority is determining what you can actually afford, which may differ from what a bank will approve.
: Experts suggest keeping total housing costs (mortgage, taxes, and insurance) below 28–30% of your gross monthly income.