: Your credit profile determines your eligibility and interest rate.
(e.g., a new car loan or credit card). Avoid large, unexplained deposits into your bank accounts. pas requirements home buying
for the last 60 days (checking, savings, and money market accounts). Investment statements (401k, IRA, or brokerage accounts). : Your credit profile determines your eligibility and
: In competitive markets, sellers often won't even look at an offer unless it's accompanied by a pre-approval letter. pas requirements home buying
if a family member is providing funds to help with the purchase.
: Most conventional loans require a minimum score of 620 , though FHA loans may allow scores as low as 500–580 .
Once you have your PAS, it is vital to maintain your financial status quo until the keys are in your hand: