: Maintain an emergency fund of 3 to 6 months of expenses to cover immediate home maintenance or repairs Ramsey Solutions.

: While 20% is the standard to avoid Private Mortgage Insurance (PMI), many first-time buyers put down as little as 3% to 5% Better Mortgage .

: Lenders require an appraisal to ensure the home’s value matches the loan amount. If it comes in low, you may need to renegotiate or pay the difference in cash Investopedia.

After an offer is accepted, the "due diligence" phase protects you from buying a problematic property.

: Compare offers from at least three different lenders to ensure you get the best terms; even a fraction of a percent can save thousands over the life of a loan Bankrate . 3. Home Search & Evaluation