The Mortgage Professor
Guiding borrowers to the right decisions
Protecting borrowers from mortgage predators

Do You Qualify?


Since the financial crisis, qualifying for a mortgage has become increasingly difficult. This page will indicate approximately where you stand in meeting the 3 Major Qualification Requirements, and if you fall short, the potential remedies. If you have difficulty interpreting the results, help is available.

Your Information

Bankruptcy History
Foreclosure History
Loan Purpose Help
Property Value Help Don't know the value of your property? Click here to find it.
Loan Amount Help
Down Payment (calculated for you)
FICO Score Help Click here if you don't know your FICO score.

Property Zip Code Help
Property State Help
Property County Help
Property Type Help
Occupancy Type Help
Monthly Documentable Income Help
Monthly Debt Payments Help


Loan Amount: This is the amount you borrow and are obliged to repay. It includes any settlement costs that you elect to finance rather than pay in cash at closing.
Loan Amount: This is the amount you borrow and are obliged to repay. It is the balance on your existing loan as of your last monthly statement, plus interest on that loan from the last statement date to the payoff date, plus the balance of a second mortgage if you have one and intend to pay it off with the proceeds of the new loan. The loan amount also includes any settlement costs that you elect to finance rather than pay in cash at closing.
Loan Amount: This is the amount you borrow and are obliged to repay. It is the balance on your existing loan as of your last monthly statement, plus interest on that loan from the last statement date to the payoff date, plus the balance of a second mortgage if you have one and intend to pay it off with the proceeds of the new loan. The loan amount also includes the cash you intend to withdraw and any settlement costs that you elect to finance rather than pay in cash at closing.
Property Value: On a purchase, this is the lower of the purchase price and the appraised value. On a refinance, it is the appraised value. If you are unsure and want the best educated guess available, click here.
Loan Purpose: A refinance is cash-out if a) you draw cash from the transaction in an amount exceeding the settlement costs plus the lesser of $2,000 or 2% of the new loan amount; or b) The old loan being repaid was taken out less than 12 months ago and was either a cash-out refinance or a second mortgage that was taken out after you purchased the home; or c) The old loan being repaid is a HELOC on which you have drawn in the period since your home purchase.
Occupancy Type: Your primary residence is where you live most of the time, and where you are registered to vote. A second home is one that is not your primary residence. An investment property is one that is used to generate rental income.
FICO Score: A measure of your creditworthiness on the FICO scale, which ranges from 350 to 850. If you don’t know your current score, you can find it by clicking here.
Property State: The state where the property is located.
Property Zip Code: The zip code where the property is located.
Property County: The county where the property is located.
Property Type: The type of the property indicates whether it is an individual structure (detached house or townhouse) or a multi-unit structure (2 - 4 units).
Monthly Debt Payments: Debt payments are those that extend beyond the next 6 months and are not deferred for a year or longer. This includes HELOCs and other revolving credits, credit card debt that you don’t pay off at month-end, student loans, and alimony and child support payments. Do not include your current mortgage payment if you are refinancing or your new mortgage payment if you are purchasing as we will calculate this for you.
Monthly Documentable Income: Only income that can be documented, and that can reasonably be expected to continue, is included in the calculation of the debt-to-income ratio. You can find income documentation requirements by clicking here.
Privacy Policy: Your phone number and email address will only be used to answer your question(s). You will not receive calls or emails from other parties and your personal information will not be sold or given to any other parties.