You can qualify for a conventional fifteen-year fixed-rate loan if: • You have paid your landlord early or on time for two years. • You have a history of uninterrupted, on-time payments for things like utility bills, insurance premiums, school tuition, child care, or medical bills. • You have been in the same career field for two years. • You have a good down payment, which is more than “nothing down.” • You have no other credit, good or bad. • You are not trying to take too big a loan. A payment that totals 25 percent of take-home pay is conservative and will help you qualify.
