Lenders have plenty of money to dole out, but you must meet their criteria to get it. Your down payment and your credit score will guide their decision and determine your interest rate. To get a conforming loan of less than $417,000 backed by Fannie Mae or Freddie Mac, you'll need a minimum down payment of 3% to 10% of the property's value (higher for conforming jumbo loans). With less than 25% equity, you'll need a credit score of at least 660; with more equity, 620 will suffice. You'll get the best rate if you have a score of at least 700 and put at least 40% down. But a borrower with a 740 score who puts just 25% to 30% down would probably be offered the same rate as someone with a score of 660 who puts at least 40% down.