You can control your debt
You don’t have to be debt-free, since nowadays, it is unrealistic for lenders to expect borrowers to be totally debt-free. Alternatively, make sure that you aren’t carrying too much debt relative to what you make. They want to know you’ll be able to afford to take on an additional mortgage payment.
If your debt-to-income ratio is too high to be approved at the moment, you have two options. You can either find ways to generate more income or to pay down your debts. If you’re serious about buying in the near future, you may want to talk to a local lender about which specific moves will have the biggest impact on your finances.

You’ve been at your job for a while
Getting a steady employment is one of the keys to being able to buy a home. As mortgage companies are giving you such a large loan, they use your employment history as an indicator that you’ll likely continue having the funds to pay them back. Traditionally, they look to see that you have at least two years at the same company before granting approval.
Your budget allows for some savings
Along with a steady paycheck and manageable debt, the next piece that you need to have in place before you can stop renting and buy a home is some sort of savings. It shouldn’t come as a surprise that buying a home does come with some sizable upfront costs. While the days of having to put 30 percent down are, thankfully, a thing of the past, you do have to have a fair amount of cash-in-hand.
You’re ready to settle down
The last sign is a bit more subjective than the rest, but it’s just as important. Owning a home is a big lifestyle change and, before you take the leap, you need to make sure that you’re ready for all that comes with it.
Another sign tells you’re ready to settle down is that you like your area and you intend to stay there for the foreseeable future. Conventional wisdom states that, if you buy, you should be prepared to stay in your home for at least the next five years in order to get the most out of your investment. If you can see yourself putting down roots for that long, you may be ready. However, if you think your life could change drastically in the next five years, it may make more sense to continue to rent.