Your credit score is the single biggest factor in determining your mortgage rate. Scores above 740 typically qualify for the best rates. Check your score for free through your bank or a service like Credit Karma, and if needed, spend a few months paying down debt and correcting any errors before applying.
The traditional 20% down payment avoids private mortgage insurance, but many loan programs allow as little as 3–3.5% down. Do not forget closing costs, which typically run 2–5% of the loan amount. First-time buyer programs in many states offer down payment assistance.
A mortgage pre-approval letter tells sellers you are a serious buyer and shows exactly how much you can borrow. Get pre-approved before you start shopping — it strengthens your offers and focuses your search on homes in your actual budget.
A buyer agent works for you and is typically paid by the seller commission — meaning their services cost you nothing. Interview two or three agents, look for someone with strong local knowledge, and choose someone you genuinely trust.
Be clear with your agent about your must-haves versus nice-to-haves. Visit homes in person — photos can be misleading in both directions. Keep notes on each home you visit; they start blending together quickly.
Your agent will help you craft a competitive offer based on comparable sales and market conditions. Include contingencies for financing and inspection — these protect you if something goes wrong.
Never skip the home inspection. A qualified inspector will examine the structure, roof, electrical, plumbing, HVAC, and more. The report gives you negotiating leverage if issues are found.
Closing typically takes 30–45 days from accepted offer. Bring your ID and a cashier check or wire transfer for closing costs. Then you get the keys!
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