Don't wait to start your financial prep if planning to buy a home in the near future! Preparing early will give you a huge advantage in the home buying process if you would like to buy in 2026.
Check out my recommended 12-month timeline to get you mortgage-ready:
- 12 months out: ✅ Start saving for your down payment (aim for 10-20% of your target home price). ✅ Check your credit report and dispute any errors
- 6-9 months out: ✅ Pay down existing debt to improve your debt-to-income ratio. ✅ Avoid opening new credit accounts. ✅ Build up your emergency fund (3-6 months of expenses)
- 3-6 months out: ✅ Research lenders and mortgage options. ✅ Gather financial documents (pay stubs, tax returns, bank statements)
- 1-3 months out: ✅ Get pre-approved for your mortgage ✅ Start house hunting with confidence!
Pro tip: Don’t just save for the down payment! Remember to budget for closing costs (typically 2-5% of the home price), moving expenses, and immediate home needs.
My best advice is to just be consistent and don't get discourage. Focus on the end goal and your dream of home ownership. Even setting aside $200-500 monthly can make a huge difference by 2026. Your future self will thank you for starting this process early!
Call/text/email me anytime, (612) 325-6324, if you have questions about getting your finances in order or would like a referral to my recommended mortgage lenders.
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