Guide — To Buying Your First House

Never skip the home inspection. You will hire an independent inspector to check the home's structure, roof, plumbing, electrical systems, and HVAC. If they find major issues, you can use the report to negotiate repairs, a lower price, or walk away from the deal entirely with your earnest money intact. 3. The Home Appraisal

Are you ready to take the first step by calculating your , or would you prefer to explore the different types of mortgages available to first-time buyers? guide to buying your first house

It is rare to find a perfect house within a starter-home budget. Distinguish between what you absolutely must have and what would simply be nice to have. Never skip the home inspection

Do not skip this step! A pre-approval letter shows sellers that you are a serious buyer with actual purchasing power. 1. Gather Your Documentation Distinguish between what you absolutely must have and

Be honest about what you can afford. Lenders use the "debt-to-income" (DTI) ratio to qualify you for a loan, usually looking for a DTI of 43% or less. However, just because a bank says you can borrow a certain amount doesn’t mean you should. Calculate your monthly housing costs, including: Principal and interest Property taxes Homeowners insurance Homeowners Association (HOA) fees (if applicable) Utilities and maintenance costs Phase 2: Getting Mortgage Pre-Approval

For low-to-moderate-income buyers in eligible rural and suburban areas, also offering zero down payment. Phase 3: The Search and The Team