One of the biggest adjustments for new homeowners is going from rent to a mortgage payment. If you expect your future house payment to be higher than what you’re paying now, start setting aside the difference each month.
✅ Example: If your rent is $1,500 and you estimate your future mortgage will be $2,000, start saving that extra $500 every month.
This serves two purposes:
If you have extra money after your monthly expenses, consider investing it wisely to help grow your home savings.
💰 Options to Consider:
Even small contributions add up over time, making it easier to cover your down payment and closing costs when you’re ready to buy.
Your credit score plays a HUGE role in getting approved for a mortgage and securing a lower interest rate. The higher your score, the better your loan terms. Here’s how to keep your credit in top shape:
✅ Never Miss a Payment – Late payments can drop your score by 50+ points and stay on your report for 7 years. Set up autopay or reminders to pay on time every month.
✅ Keep Credit Card Balances Low – Try to keep balances below 30% of your credit limit on revolving accounts. Lower utilization = higher credit score.
✅ Avoid New Debt – Thinking about financing a car or taking out a loan? Hold off if possible. New debt increases your debt-to-income (DTI) ratio, which lenders consider when approving mortgages.
Buying a home is one of the biggest financial decisions you’ll ever make. The more you learn now, the more confident you’ll feel when it’s time to apply.
📌 What to Research:
The more prepared you are, the smoother the process will be when you're ready to move forward!
Even if you can’t buy a home right now, every smart financial move you make today will bring you closer to homeownership in the future.
🏡 Start small. Stay consistent. Build the habits now.
And when you’re ready to start looking for a home, I’m here to help! Let’s put together a plan to get you into your dream home—when the time is right for you.
👉 Have questions? Drop a comment or send me a message!
📌 Follow for more tips on how to prepare for homeownership!
Calculate your mortgage payment, affordability & more
Get the tools to learn, manage and close your mortgage all in one app
Get pre-approved in minutes with our quick and easy application