A higher score gets you lower interest rates.
Avoid making any large purchases (like a new car or furniture on credit) between your pre-approval and closing day, as this can disqualify your loan at the last minute!
Number of bedrooms, school district, or commute time. how to buy my first home
When you find "the one," your agent will help you determine a fair price based on "comps" (what similar homes nearby sold for). Don't be afraid to ask for a "seller concession" to help cover your closing costs if the house needs minor repairs. 6. The "Due Diligence" Phase
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. A higher score gets you lower interest rates
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"
Your lender will require an independent value check to ensure the house is worth what you’re paying. 7. Closing Day When you find "the one," your agent will
Expect to pay 2% to 5% of the home’s purchase price in taxes, lender fees, and inspections. 2. Get Pre-Approved