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What are the qualifying criteria for a home loan?

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The requirements for qualifying for a home loan will vary from lender to lender, and from loan product to loan product. As such the criteria will vary. However, all loans will require that your debt to income ratio is within specific parameters. All loans will need proof of your ability to repay a loan, which will require that you have documentation proving your income, savings, assets, reserves. Your credit score will also be required, although you don't need to have perfect credit to qualify for a home loan. Nearly all loans will require a down payment (with the exception of VA loans), and different loan products will have different down payment requirements. You'll want to speak with a SoCal mortgage broker to discuss your specific goals, and your unique financial information to determine which type of loan is best suited for your needs.