Steps To Buying Home For First Time Now

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 offer price based on "comps" (what similar homes nearby sold for recently). You’ll submit an offer with an —a small sum that shows you’re acting in good faith. Be prepared for a counter-offer or a bidding war. 6. Inspection and Appraisal steps to buying home for first time

Hire a pro to check for hidden issues like mold, outdated wiring, or foundation cracks. If they find big problems, you can ask the seller to fix them or lower the price. While 20% is the gold standard to avoid