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 "pre-qualification" is a guess; a is a commitment. It shows sellers you are a serious, vetted buyer. Shop around with at least three lenders to compare interest rates and loan terms. 3. Find a "Buyer’s Agent" how to buy my first home
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! While 20% is the gold standard to avoid
It’s easy to get distracted by a pretty kitchen. Stay grounded by making a list: Shop around with at least three lenders to
You’ll sign a mountain of paperwork, pay your remaining down payment and closing costs, and finally receive the keys.
Paint colors, carpet, or landscaping (these are easy to change later). 5. Make an Offer and Negotiate