1. Know your numbers
Before you look at homes, look at your monthly budget. Talk to a lender to get pre-approved, and ask for an estimate of the full monthly payment: principal, interest, taxes, insurance and any HOA dues.
- ✓Check your credit report
- ✓Gather two years of income documents
- ✓Get pre-approved, not just pre-qualified
- ✓Set aside cash for closing costs and moving
2. Pick your team
A buyer's agent, a lender, a home inspector and, in some states, an attorney. Interview at least two agents and ask how they get paid. In most markets you now sign a written agreement with your agent before touring, so read it carefully.
3. Tour, compare and offer
Focus on location and layout first; finishes can change. When you find the one, your agent will help you set price, earnest money, contingencies and timing.
4. Inspection to closing
Schedule the inspection right away, review the appraisal, lock your rate and do a final walk-through before you sign. Never wire money based on an emailed instruction without calling your title company at a number you already know.
- ✓Home inspection
- ✓Appraisal
- ✓Final loan approval
- ✓Homeowners insurance bound
- ✓Final walk-through
This guide is general information, not legal, tax or financial advice. Rules vary by state.