Steps To Follow When Buying A House Here

: Your monthly mortgage payment should not exceed 30% of your gross monthly income.

: A formal commitment after a lender verifies your income, tax returns, and credit. Sellers often won't even consider an offer without this. 3. House Hunting & Making an Offer What is the 30/30/3 Rule for Home Buying? steps to follow when buying a house

: The home price should ideally be no more than three times your annual household income. 2. Mortgage Pre-Approval : Your monthly mortgage payment should not exceed

: Aim to have 30% of the home's value in savings—20% for a down payment and 10% as a buffer for closing costs and repairs. steps to follow when buying a house