The factors that mortgage lenders look at when doling out money are far different from the criteria landlords use to rent out a property. Let’s compare: When you rent an apartment, a decent credit rating and steady income source usually result in a lease signing and the forking over of first and last month’s rent. Within a few days, you’re in your new apartment. Home buying is not as simple. The process itself is time-consuming because there’s more at stake and because mortgages simply aren’t as easy to obtain as leases. Still, the overall consensus is that the homebuying process is easier than it was, say, ten years ago. The fundamentals are the same: You need some cash reserve for a down payment and/or closing costs; you need the cleanest credit history you can provide (a variable that factors heavily into the interest rate that a lender will offer you); and you need a source of steady income that proves your ability to pay your monthly mortgage payment.