Buyer Tools · Readiness Score + Next Steps

Homebuyer Readiness Calculator (2026)

Last updated: Helpful references: CFPB homebuying basics, Fannie Mae homebuyer education

Before you fall in love with a house, your lender will focus on a short list of facts: your credit pattern, your income and debts, how much cash you can keep after closing, and whether your paperwork tells a clean story. This calculator turns those basics into a simple readiness score and a practical checklist, so you know what to fix first and what to do next.

Quick Answers

Planning tool only. It is not a credit decision.

What this tool checks

  • Credit band, income stability, savings cushion, and an estimated debt to income snapshot.
  • Signals that often slow approvals, like recent major credit events.
  • Whether you are ready to shop now or better served by a short prep sprint.

What the score is for

  • A clear plan, not a pass or fail label.
  • Faster pre approval conversations with fewer surprises.
  • Cleaner offers once you find the right home.

Common reasons buyers get stuck

  • Target payment is too high for income once debts are counted.
  • Cash cushion is thin after down payment and closing costs.
  • Credit utilization or late payments that were never cleaned up.

If you need a fast timeline

  • Bring your documents together first, then shop.
  • Run numbers with a lender early so conditions surface upfront.
  • Keep a backup plan for move timing, especially with school or relocation dates.
Your results are educational. Final approvals depend on the loan program, property, and lender underwriting.
Start the Readiness Check Mortgage Calculator Browse Homes for Sale

Homebuyer Readiness Score + DTI Snapshot

Answer the questions, then get a score, a debt to income estimate, and a next steps checklist you can print or copy. If you want help, you can send the snapshot to an agent without retyping everything.

Calculator

Tip: If you do not know a number, leave it blank. You will still get guidance, and you can rerun it later.

Short timelines can work when paperwork and budget are already clean.
Mortgage scores can differ from app scores. Lenders also have overlays.
Reserves can help when inspections, repairs, or moving costs hit at once.
Program choice changes rules, but the basics still matter.
Use a rough total: principal, interest, taxes, insurance, HOA.

Your Homebuyer Readiness Snapshot

Awaiting inputs
Readiness score (planning only) 0 / 100

Run the calculator to get a score, a DTI estimate, and a next steps checklist you can save.

Speak to an Agent

How the score works

Think of this like a newsroom checklist. It does not predict the future. It shows the factors that most often decide whether your pre approval is smooth, slow, or stressful.

Score range What it usually means What to do next
80 to 100 You look positioned to start touring and writing offers once you confirm program details and payment comfort. Get a lender quote, confirm cash to close, and align your offer strategy with current market conditions.
60 to 79 You are close. One or two issues, often DTI, cash cushion, or recent credit patterns, can still slow you down. Do a short prep sprint, then rerun the tool. Small changes can improve terms fast.
0 to 59 You may still buy, but you are more likely to face stricter conditions, higher costs, or surprises mid process. Focus on budget, debt, and paperwork first, then talk to a lender before you fall in love with a house.
Educational planning only. Final decisions depend on the lender, the property, and your full file.

Your readiness checklist

Buying gets easier when you separate what must be done now from what can wait. Use this as your pacing plan.

Do this today

  • Pick a realistic payment target and run the mortgage math.
  • Pull credit reports and look for errors or high utilization.
  • List monthly debts so a lender is not guessing later.
  • Build a simple budget that includes moving and setup costs.

Do this in the next 7 days

  • Organize pay, bank, and tax documents into one folder.
  • Talk to a lender about the best program fit for your profile.
  • Confirm cash to close, including reserves you want to keep.
  • Interview an agent and align on neighborhoods and commute needs.

Do this before you shop hard

  • Lock your pre approval and ask what conditions to expect.
  • Know your walk away rules on inspection and repair credits.
  • Build a backup plan for timing, especially if you must move fast.
  • Keep your credit steady and avoid new debt during escrow.
Mortgage Calculator Buyer Guides Talk to an Agent

Frequently asked questions

Short, practical answers to the questions buyers ask right before they get serious.

Is this score an approval or a denial?
No. This is a planning score designed to surface common bottlenecks early. A lender must review your full file, confirm income, and approve a specific property before any loan is final.
What is a good debt to income number?
Lower is usually easier, but approvals depend on the full story. If your estimated DTI is high, you may still qualify, yet the lender will look harder at cash reserves, job stability, and the type of debt you carry.
Why does cash cushion matter if I have a down payment?
Closing costs, inspections, repairs, moving, and setup expenses can stack up fast. A cushion keeps you from draining your accounts and helps you stay calm when normal home issues pop up after move in.
Should I get pre approved before I tour homes?
In most markets, yes. Pre approval clarifies what you can buy, helps you move faster when you find the right home, and makes your offer stronger because the seller sees you as a serious buyer.
Will student loans hurt my chances?
Not automatically. The impact depends on your monthly payment and overall budget. The bigger issue is total debt load relative to income. Sometimes a different program choice or payoff strategy improves the picture quickly.
What if I do not know my credit score?
That is common. Run the tool anyway, then pull your reports and ask a lender what mortgage scoring model they use. The goal is not a perfect number. The goal is avoiding surprises after you have chosen a home.
How do I pick the right loan program?
Start with what fits your profile: down payment, credit pattern, and monthly payment comfort. Then compare total costs, not just the rate. An agent and lender can help you compare scenarios that match your timeline and market.
Can I buy while changing jobs?
Often yes, but timing matters. Lenders want stable, documentable income and a consistent line of work. If you are switching fields or starting self employment, plan for extra documentation and a longer approval timeline.
What should I avoid right before closing?
Avoid opening new credit, financing furniture, or making large unexplained transfers. Keep income and accounts steady. Many deals get delayed by last minute changes that trigger a new review of credit or bank statements.
Can LRG help even if I am not ready yet?
Yes. The cleanest buyers are usually the ones who plan early. If your score says prep, we can help you prioritize the fastest improvements, connect you with a lender for a real plan, and time your search for the right moment.

References and your next steps

If you want the official rules behind the basics, start with these education resources. Then use your score to choose the next move that actually helps you buy, not just browse.

If your score is strong, the play is simple: confirm a real payment target, get pre approved, and be ready to move when the right home hits the market. If your score is close, treat it like a short training block: lower revolving balances, firm up reserves, and organize documents so your lender can clear conditions fast. If your score needs prep, do not rush into tours that turn into disappointment. Build the runway first, then shop with confidence and leverage.

Educational content only. Terms and approvals depend on lender underwriting and property details.


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