A lot goes into determining your eligibility for a home loan. If you are looking for a conforming loan, the lender should run DU on your file to determine if you are excepted. DU (Desktop Underwriter) will weight your qualifications on more than just your credit score. It will look at the big picture of you as a borrower. It is going to weight your credit, income, debt ratios, down payment, amount of reserves, etc, to give you a total score of your qualifications. It when then either "accept" or "refer" your file. Accept means you meet requirements, refer mean their are some issues and it needs to be manually underwritten. You you would like some further clarification on this feel free to email or call me.
Bank of America Home Loans