Home BuyAbility Test | Home BuyAbility Guide | About Mortgages | Types of Mortgages | What Type of Mortgage Is Best for You| Mortgage Shopping Tips | Fixed Rate Mortgages | Adjustable Rate Mortgages | How to Apply | Application Checklist | A Tip About Time

What Your Home BuyAbility
Test Score Means

You May Be Able To Afford More
Home Than You Thought

Compare your total score to the chart below. It shows how much home may be in your price range along with a typical down payment.

Regardless of how you scored, you can apply for the mortgage or refinancing amount you have in mind. That's because our lending officers always try to find ways to approve loan requests, not look for reasons why they can't.

HOME BUYABILITY CHART

If Your Test Score is...

14 to 17 points: Typical Down Payment 10% on a mortgage of less than $60,000.

18 to 20 points: Typical Down Payment 10% on a mortgage $60,001 to $80,000.

21 to 24 points: Typical Down Payment 15% on a mortgage $80,001 to $100,000.

25 to 28 points: Typical Down Payment 20% on a mortgage $100,001 to $125,000.

29 to 31 points: Typical Down Payment 25% on a mortgage $125,001 to $150,000.

14 to 17 points: Typical Down Payment 25% on a mortgage $150,001 to $175,000.

Over 17 points: Typical Down Payment 25% on a mortgage over $200,000.


This chart is for your information only. Loan self-tests do not include all of the factors banks consider in evaluating a loan request such as your payment history and your ability to meet your monthly obligations. Banks reserve the right of final loan approval.


Return to Home Page