A "pre-qualification" is a quick estimate, but a is a lender’s written commitment to loan you a specific amount. In a competitive market, most sellers won't even look at your offer without a pre-approval letter. It proves you’re a serious, vetted buyer. 3. Find a "Buyer’s Agent"
Once your offer is accepted, you are "under contract," but the deal isn't done yet. steps to buying home for first time
Before you look at a single house, look at your bank account. You need to know exactly what you can afford so you don't fall in love with a home that’s out of reach. A "pre-qualification" is a quick estimate, but a
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. You need to know exactly what you can
As a first-time buyer, you want an expert in your corner. A buyer’s agent helps you find listings, schedules tours, and—most importantly—handles the intense negotiations. In many cases, the seller pays the agent's commission, meaning their expertise may come at no out-of-pocket cost to you. 4. The House Hunt