: Set aside 1–3% of the home's value annually for repairs. Phase 2: Professional Support & Pre-Approval Things to Consider When Buying a Home: A Step-by-Step Guide
: Lenders often approve you for more than you should comfortably spend. steps to buying a new house
: Aim to keep total housing costs (PITI: Principal, Interest, Taxes, Insurance) under 30% of your gross monthly income. Debt-to-Income (DTI) : Aim for a DTI ratio below 43%. Accumulate Liquid Cash : You : Set aside 1–3% of the home's value annually for repairs
Before looking at listings, you must solidify your borrowing power. and TransUnion via AnnualCreditReport.com.
: Check reports from Equifax, Experian, and TransUnion via AnnualCreditReport.com.