Credit Score
- Your credit score is also important when determining how much money you need to put down for a home. Borrowers with good credit scores (740 or higher) may be able to get a lower interest rate on their mortgage, which can save them money in the long run.
Income
Your income is also a factor that lenders will consider when determining how much money you need to put down for a home. Lenders want to make sure that you can afford to make your monthly mortgage payments, even if your income changes.
