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Most lenders use the 28/36 rule: housing costs under 28% of gross income, total debt under 36%. Use a mortgage calculator with your income, debts, down payment, and target interest rate to get specific numbers. Get pre-approved for the most accurate picture.

Conventional loans typically require 620+, FHA loans 580+ (or 500+ with 10% down), VA loans 580-620 depending on lender. Higher scores (740+) unlock the best interest rates, potentially saving tens of thousands over the loan life.

Fixed-rate mortgages offer payment stability and are ideal if you'll stay 7+ years. Adjustable-rate mortgages start with lower rates and suit shorter ownership timelines or expectations of falling rates. Consider your risk tolerance and plans.

Closing costs run 2-5% of the loan amount and include lender fees, appraisal, title insurance, escrow, taxes, and recording fees. Buyers typically pay most closing costs, though sellers often contribute through negotiation, especially in buyer-favorable markets.