Qualifying for a mortgage can be daunting for first-time homebuyers or those re-entering the market. Lenders assess four core components—capacity, capital, collateral, and credit. They evaluate income, employment history, savings, and monthly debts to ensure borrowers can manage mortgage payments. Lenders also verify the source of large deposits and assess the property's value through an appraisal. Understanding credit health is beneficial, even for renters or those not currently buying.