Getting Started
Buying your first home is one of the most exciting — and nerve-wracking — decisions of your life. This guide walks you through every step.
Step 1: Assess Your Finances
Before browsing listings, understand your budget. Calculate your monthly income, existing debts, and savings. Lenders typically want your total debt payments to be under 43% of your gross income.
Step 2: Get Pre-Approved
A mortgage pre-approval letter tells sellers you're a serious buyer. Gather your pay stubs, bank statements, tax returns, and employment verification. Compare rates from at least three lenders.
Step 3: Find the Right Neighborhood
Consider commute time, school districts, amenities, and future development. Visit neighborhoods at different times of day. Talk to residents.
Step 4: Work With a Buyer's Agent
A buyer's agent represents your interests and costs you nothing — their commission is paid by the seller. Choose someone with local expertise and strong reviews.
Step 5: Make an Offer
Your agent will help you craft a competitive offer based on comparable sales. Include contingencies for home inspection and financing.
Step 6: Home Inspection
Never skip the home inspection. A licensed inspector will identify issues you might miss. Use the report to negotiate repairs or a price reduction.
Step 7: Close the Deal
Review all closing documents carefully. Bring a certified check for closing costs (typically 2–5% of the loan amount). Congratulations — you're a homeowner!