To calculate payments on a home loan, simply follow the link below. Once at the site, enter the Loan Amount, Interest Rate, Length (Term) of Loan, and click the "Calculate" button.

Lenders look for stability in a borrower. Your past 2 years of credit history will have the greatest impact. Regular lenders will look for no late payments over 30 days on rent or mortgages, and no late payments in past 6 months on credit cards. Credit problems over 3years old may be OK if your recent history is solid.

To show more income to qualify, you can count part time, overtime, bonus income, commissions and self employment as long as it has a 2 year history.

Basic FHA Loans allow you to purchase a home with as little as a 3% down payment. In many cases the down payment can come from a gift by a friend, relative or co-worker.

VA Loans require no downpayment in most cases. Loan maximum may be up to 100 percent of the VA-established reasonable value of the property, and generally may not be more than $203,000.