Your self-check guide before jumping into the market

The start of a new year often brings big goals, and for many, that includes finally buying a home. But how do you know if this is the right year to take the leap from renting to owning? At Consumers National Bank, we want to help you feel confident, not rushed, in your homebuying journey.

Here’s a self-assessment to help you determine whether you're truly ready to buy a home in 2026, financially and emotionally.

1. You Have a Steady, Reliable Source of Income

The foundation of any mortgage approval is your ability to make monthly payments. A consistent income, whether from a salaried position, self-employment, or other reliable sources, helps lenders (and you) feel confident about taking on a long-term financial commitment.

Ask yourself:

• Have I been in my current job or field for at least 1–2 years?
• Is my income expected to remain stable or grow?

If the answer is yes, that’s a strong starting point.

2. Your Debt Is Manageable

Lenders look at your debt-to-income ratio (DTI), which is how much of your monthly income goes toward debt payments like student loans, car payments, and credit cards.

A DTI of 43% or less is typically needed to qualify for a mortgage, but the lower, the better.

Quick tip: Add up your current monthly debt payments and divide by your monthly gross income. If you’re unsure where you stand, Consumers National Bank’s mortgage team can help you calculate it and offer guidance.

3. You’ve Built Up Some Savings

Even with low or no-down-payment loan programs, you’ll still need cash for:

• A down payment
• Closing costs (usually 2–5% of the home’s price)
• Moving expenses
• Emergency reserves after move-in

If you’re just starting to save, look into the Ohio Homebuyer Plusprogram, a specialized savings account designed to help Ohio residents grow their down payment funds faster. It earns a competitive interest rate and is available right here at Consumers National Bank.

4. You Have an Emergency Fund (And You Don’t Plan to Spend It)

Owning a home means you’re responsible for repairs, appliances, and unexpected costs; there’s no landlord to call. That’s why a healthy emergency fund (typically 3–6 months of living expenses) is key to long-term success as a homeowner.

You don’t need to drain your savings to buy a home. If purchasing would wipe out your emergency cushion, it might be worth waiting a few months while you rebuild that buffer.

5. You Understand and Are Comfortable With the Responsibility

Beyond finances, buying a home is a lifestyle decision. Are you ready to settle in one area for at least a few years? Are you excited about the responsibilities of homeownership, like maintenance, yardwork, or repairs?

Buying a home is both an emotional and financial investment. It’s okay to wait until you feel fully ready on both fronts!

6. You’re Ready to Get Pre-Qualified

If you’ve nodded “yes” to most of these self-check questions, it might be time to take the next step: get pre-qualified. This is a simple, no-obligation process where a Consumers National Bank mortgage expert reviews your basic financial picture and gives you an estimate of what you can afford.

Pre-qualification helps you shop smarter, strengthens your offer, and uncovers any early issues you can resolve before applying for a full mortgage.

Let’s Make 2026 the Year You Buy with Confidence

Buying a home is a big step, but you don’t have to take it alone. At Consumers National Bank, we’re here to walk with you from “just curious” to “just closed.” Whether you’re ready to get pre-qualified or need help building your plan, our local mortgage experts are here for you. Contact us today to get started.

Start your journey today by connecting with a Consumers National Bank mortgage lender near you.