Question: what are the requirements for first time homeowners?
Answer: At a glance: Generally speaking, borrowers need a good credit score of 600 or higher, a debt-to-income ratio no higher than 50%, steady income, and enough funds to cover their down payment and closing costs. ...  Down Payment Requirements in 2019. ...  Credit Score Requirements in 2019. ...  Debt-to-Income Ratios in 2019.