A high credit score represents a low risk profile for a borrower. This means that if your credit score is high, you should be eligible for the most competitive rates and terms.

Conversely, you want a low debt-to-income ratio. This demonstrates to lenders that you can afford to add a mortgage onto your monthly payments. The better this ratio, the better the terms and rates you will be quoted.

Conforming loan down payments may range anywhere from 3-20% or more. The minimum will be based on the factors above, but you might consider paying more in order to increase your bargaining power over terms of the mortgage.