Preparing To Buy A House Apr 2026

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

: Aim for this down payment to avoid Private Mortgage Insurance (PMI). preparing to buy a house

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

: Pull reports from Equifax, Experian, and TransUnion. preparing to buy a house

: Ensure your monthly payment (EMI) is under 30% of your gross income.

: Keep a 40% income buffer for savings and other life goals.

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