You’ll sign a mountain of paperwork, pay your remaining down payment and closing costs, and finally receive the keys.
A "pre-qualification" is a guess; a is a commitment. It shows sellers you are a serious, vetted buyer. Shop around with at least three lenders to compare interest rates and loan terms. 3. Find a "Buyer’s Agent"
A higher score gets you lower interest rates. how to buy my first home
Your lender will require an independent value check to ensure the house is worth what you’re paying. 7. Closing Day
Expect to pay 2% to 5% of the home’s purchase price in taxes, lender fees, and inspections. 2. Get Pre-Approved You’ll sign a mountain of paperwork, pay your
While 20% is the gold standard to avoid private mortgage insurance (PMI), many first-time programs allow as little as 3% or 3.5% down.
Number of bedrooms, school district, or commute time. Shop around with at least three lenders to
In most cases, the seller pays the commission, so professional representation is usually free for you. A good agent will find listings, schedule viewings, and—most importantly—handle the intense negotiations. 4. Know Your "Must-Haves" vs. "Nice-to-Haves"