Before looking at houses, you must look at your bank account. The first step is saving for a —typically between 3% and 20% of the home’s price—and closing costs , which cover taxes and administrative fees. Simultaneously, check your credit score ; a higher score secures lower interest rates, saving you thousands over the life of the loan. The Green Light: Pre-Approval
After a seller accepts your offer, the "under contract" phase begins. You must hire a professional to check for hidden issues like mold or structural damage. Simultaneously, your lender will order an appraisal to ensure the home is actually worth the price you’re paying. If problems arise here, you may need to renegotiate the price or ask for repairs. The Finish Line: Closing steps you need to take to buy a house
Once your finances are in order, meet with a lender to get for a mortgage. This isn't just a casual chat; the lender verifies your income and debts to determine exactly how much they are willing to lend you. Having a pre-approval letter makes you a serious contender in the eyes of sellers. The Hunt: Finding the Right Home Before looking at houses, you must look at your bank account
With a budget in hand, hire a . They act as your advocate, finding listings that meet your needs and navigating the local market. During this phase, distinguish between your "must-haves" (like the number of bedrooms) and your "nice-to-haves" (like granite countertops). When you find "the one," your agent will help you submit a competitive offer . Due Diligence: Inspection and Appraisal The Green Light: Pre-Approval After a seller accepts