Here are some of the factors which we look at:
Your debt-to-income ratio
Bankruptcies and foreclosures on your record
Ability to afford a down payment
Military status (for VA loans)
Where you wish to purchase a home (for USDA rural loans)
With a high credit score, low debt-to-income ratio, and a 2-year history of employment, you will be eligible for the best possible interest rates and several different loan options and terms.
But even if these factors are not perfect, you may still qualify for some excellent offers, particularly if you are eligible for an FHA, VA or USDA loan. With a VA or USDA loan in Virginia, you can get 100% loan and not have to make a down payment at all or you can put as little as 3% down on a conventional loan or 3.5% down payment on an FHA loan.