Credit Score Requirements:
One of the primary factors that lenders look at is your credit score. This score is a reflection of your credit history and how well you have managed your debt. In general, a credit score of 650 or higher is considered good, while a score of 750 or higher is considered excellent. Lenders prefer to see a higher credit score as it indicates that you are a low-risk borrower.

Income Requirements:
Another important factor in qualifying for a mortgage is your income. Lenders want to make sure that you have a stable source of income that is sufficient to cover your mortgage payments and other living expenses. Generally, lenders require that your total debt payments, including your mortgage, do not exceed 44% of your gross income.

Debt-to-Income Ratios:
The debt-to-income ratio is a measure of how much debt you have in relation to your income. To qualify for a mortgage, your debt-to-income ratio should typically be no more than 42% of your gross income. This means that if you earn $60,000 a year, your total debt payments should not exceed $25,200 a year, or $2,100 per month.

In addition to these factors, lenders will also consider your employment history, savings, and the size of your down payment when evaluating your mortgage application. It is important to note that each lender may have slightly different requirements, and it’s always a good idea to shop around and compare mortgage rates and terms from multiple lenders to find the best deal for your specific situation.