There is an excitement you feel when the thought about planting roots, growing a family and accomplishing new milestones as a homeowner. It also means you will be tackling probably one of the largest consumer debt.

The process to buy a home can be exciting but it also can be intimidating and stressful. Questions about down payments, how much you’ll qualify for, and whether you can get approved for a loan can be daunting.

If you are considering buying a home, here are top 5 reason you should.

You can manage debt well

You can still buy a home even if you are tackling other debts. As of 2020, most Americans carried around at least one credit card, and the average balance on a credit card is just under $5,400. The goal of a debt management plan is to use these strategies to help you eliminate your current debt and having control over financial planning strategizes.

Have stable income

Mortgage lenders want to see that your income is high enough to cover your monthly payments. Steady income shows that you’ll be able to cover your payments in the long run, minimizing any risk on their end.

Have an emergency fund

Plan ahead with having enough money for unforeseen circumstances. Life has many tosses and turns. Emergency funds create a financial buffer that can keep you afloat instead of relying on high interest credit cards.

Have enough cash for a downpayment

Figuring out a way to save money all starts with taking the time to create a plan. You need a detailed budget to track and control every dollar you earn per month. Paying yourself first. One of the best ways to grow your savings is to put aside money consistently. Find a new hobby and stack coins for upfront costs.

Good Credit Report

Mortgage lenders will begin the application process with checking on your credit report. Check your report and fix any disputes with your credit bureaus. Allow at least 30 days for your report to be updated.