First Time Home Buyer, Investment Property

How Much Do I Qualify For?

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Qualifying for a home is a term we in the biz use for what you can afford to pay. This can be a bit overwhelming so let’s break it down in bite sized pieces.

Qualification is based off 4 things:

  1. Income

  2. Credit Score

  3. Debts

  4. Assets


Show me the money! We want to know your base income, bonusses, overtime, commission, and all other forms of income you have. How much money you make is going to have a big effect on how much you qualify for. Naturally, the bigger your income, the bigger the home you can purchase.

Credit Score

Don’t let this one scare you! Simply put, we are looking for a credit score of 620 or higher (minimum credit requirement is subject to change). If you don’t think your credit is good or don’t know your score feel free to give us a call! We would be happy to recommend additional options like a cosigner or doing some credit repair.


Welcome to the land of student loans, credit cards, and so much more! We look at all your debts that you pay on each month compared to your gross monthly income to formulate your debt-to-income ratio. All we want to see is what your money going out looks like compared to what is coming in. Obviously, the less you pay out to your debts every month, the higher price range you can qualify for.


We want to see even more money! But, this time it’s all about what you have in the bank. We will need to verify funds for down payment, earnest money (money to confirm your contract), and closing costs (money that you will bring to closing).  

Since each of these categories are quite literally different for every person, the best way to get an exact answer is to set up a quick 10-minute Pre-Qualification call with The Ben Lemon Team. We can discuss options to get you the best price possible!!


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So, you just bought a house? Maybe you are on a new journey of discovering your finances and need help of where to start? One of our main goals here is to get you into a home (aka debt), but then help you get out of debt and be financiall