A House Mortgage — Buying

Once your offer is accepted, you enter the "underwriting" phase where the bank double-checks everything. On closing day, you’ll sign a mountain of paperwork, pay your closing costs (usually 2–5% of the home price), and finally get the keys.

Buying a home is likely the biggest financial leap you’ll ever take, and the mortgage is the engine that makes it move. It’s easy to get lost in the jargon, but at its heart, a mortgage is just a long-term agreement that trades a steady monthly payment for a place to call your own. 1. The Foundation: Your Credit and Down Payment Before you even look at a house, lenders look at you. buying a house mortgage

While the "20% down" rule is the gold standard (it helps you avoid private mortgage insurance), many programs allow for as little as 3% or 3.5% down. 2. Choosing Your Loan Type Once your offer is accepted, you enter the