Hire a professional to check the bones of the house. If they find a cracked foundation or a failing roof, you can ask the seller to fix it, lower the price, or you can walk away with your deposit intact.
Buying your first home is likely the biggest financial move you’ll ever make. It’s a mix of a major investment and a deeply personal milestone. While the process can feel like a maze of paperwork and jargon, breaking it down into clear stages makes it much more manageable. 1. Get Your Finances House-Ready
Budget an additional 2% to 5% of the home’s purchase price for taxes, lender fees, and title insurance.
Don't drain every penny. You’ll need a "maintenance fund" for the inevitable leaky faucet or lawnmower purchase that happens the week you move in. 2. The Pre-Approval Power Move
While 20% is the gold standard to avoid private mortgage insurance (PMI), many first-time programs allow for as little as 3% or 3.5% down.
Your lender will require an appraisal to ensure the home is actually worth what you’re paying. 6. Closing the Deal
Hire a professional to check the bones of the house. If they find a cracked foundation or a failing roof, you can ask the seller to fix it, lower the price, or you can walk away with your deposit intact.
Buying your first home is likely the biggest financial move you’ll ever make. It’s a mix of a major investment and a deeply personal milestone. While the process can feel like a maze of paperwork and jargon, breaking it down into clear stages makes it much more manageable. 1. Get Your Finances House-Ready guide to buying a home first time buyer
Budget an additional 2% to 5% of the home’s purchase price for taxes, lender fees, and title insurance. Hire a professional to check the bones of the house
Don't drain every penny. You’ll need a "maintenance fund" for the inevitable leaky faucet or lawnmower purchase that happens the week you move in. 2. The Pre-Approval Power Move It’s a mix of a major investment and
While 20% is the gold standard to avoid private mortgage insurance (PMI), many first-time programs allow for as little as 3% or 3.5% down.
Your lender will require an appraisal to ensure the home is actually worth what you’re paying. 6. Closing the Deal