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Here are some of the most important steps buyers need to take, according to housing and personal finance experts: Review your credit report early and consolidate your debt Before searching for a home, you should ensure that your finances are in check. This doesn't just mean having an emergency fund in place for any unforeseen costs. Review your credit report once a month, and keep an eye out for errors. Consolidate existing debt could lower monthly debt payments and improve a consumer's debt-to-income ratio, which is one of the factors lenders consider when deciding if a would- be borrower is creditworthy. That will help you over the hump and into getting a mortgage. Decide what type of house you want ASAP Buyers won't have time to rest on the laurels in the spring market—and that means they need to hit the ground running. Consequently, indecision can easily jeopardize a home buyer's success in securing a purchase. A lot of buyers getting into the market for the first time don't know the difference between a Craftsman, a Cape Cod and a Colonial-style house, understand what house you want to get and what amenities you're interested in. Figure out what you can actually afford Don't flirt with a home price that's vastly unaffordable, it's a waste of everyone's time. Figure out prior to getting into a car to look at houses what your budget is. A housing budget should include everything from insurance and utilities payments to homeowner association dues and maintenance costs plus, property taxes. One good rule of thumb: Target a monthly mortgage payment equivalent to 80% or less of what you pay in rent. Get pre-approved for a mortgage Getting pre-qualified or pre-approved for a mortgage is a step that most housing experts now suggest buyers take. A pre- approval letter from a lender will state the maximum amount they are willing to lend to a borrower to finance the purchase of a home. This gives you a competitive edge against buyers who don't have pre-approval letters. Home sellers don't want to get burned by wasting time accepting an offer from someone and then a couple of weeks later it turns out they can't get a loan.