QUIZ: Which home loan is right for you? Mark Ramos October 23, 2019 Are you a first-time buyer? Yes. No, but I haven’t purchased in the past three years. No. Are you a veteran or active-duty servicemember? Yes. No. How is your credit? Fair to poor - 650 or below. Good - From 650 to 750. Excellent - Above 750. Are you planning to renovate your new home as soon as you move in? Yes. No. Yes, but not right away. How much money have you set aside for a down payment? None. Between 3 and 5 percent. 10 percent. More than 20 percent. Do you need help paying your down payment? No. Yes, I may receive help as a gift from a friend or relative. Yes, I'm interested in qualifying for a down payment assistance program. Are you thinking about buying a house in a rural or suburban area? Yes. No. Possibly. I'm open to different areas in and around my city. Do you need a larger loan to purchase a house in a higher price range? Yes, ideally above $450,000. No. Maybe. Housing prices are rising in my area. Do you plan to live in your home for several years or decades? Yes, I'm putting down roots. Yes, but I may consider moving in five years or more. No, I plan for this to be my temporary home for only a few years.