How To Buy My First Home Here

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.

When you find "the one," your agent will help you determine a fair price based on "comps" (what similar homes nearby sold for). Don't be afraid to ask for a "seller concession" to help cover your closing costs if the house needs minor repairs. 6. The "Due Diligence" Phase how to buy my first home

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" While 20% is the gold standard to avoid