Preparing To Buy A House Access

: Aim for this down payment to avoid Private Mortgage Insurance (PMI).

: Keep a 40% income buffer for savings and other life goals. preparing to buy a house

: Ensure your monthly payment (EMI) is under 30% of your gross income. : Aim for this down payment to avoid

: Lenders prefer a Debt-to-Income ratio below 25-36%. Pay down credit cards to below 1/3 of their limit. 🏠 Phase 2: Defining Your "Must-Haves" How to Prepare to Buy a House in 6 Months : Lenders prefer a Debt-to-Income ratio below 25-36%

Before looking at a single listing, you must prove to lenders that you are a "safe bet".

🏗️ Phase 1: The Financial Foundation (6–12 Months Out)

: Correct errors and avoid opening new lines of credit (like car loans) which can tank your score. The 20/30/40 Rule : Use this for a healthy balance: