: Use the 28/36 rule —housing costs shouldn't exceed 28% of your gross monthly income, and total debt shouldn't exceed 36%.
: This is a lender's commitment to lend you a specific amount. It proves you are a serious buyer and helps you avoid falling in love with a home outside your budget. what to do when buying your first house
Sellers often won't consider an offer unless you have professional backing and proof of funds. : Use the 28/36 rule —housing costs shouldn't
: Start collecting your last two years of tax returns, W-2s, and recent bank statements. 3. The Search and Offer Phase what to do when buying your first house