How To Go About Buying Your First Home May 2026

Aim to keep your total monthly housing payment (mortgage, taxes, insurance, and HOA) under 25% to 30% of your gross monthly income. 2. Save for the "Hidden" Upfront Costs

The down payment is only part of the initial cash you'll need. how to go about buying your first home

Lenders typically prefer a DTI below 36% to 43% , though some FHA or VA programs allow up to 50%. Aim to keep your total monthly housing payment

Before looking at listings, ensure your finances can handle the "true cost" of homeownership. how to go about buying your first home