: Do not settle for the first quote. Comparing at least 3 to 5 lenders (banks, credit unions, and online brokers) can save you thousands in interest over the life of the loan.
Once your finances are stable, begin assembling professional support and finalizing your borrowing power.
Buying your first home is likely one of the largest financial decisions you will ever make. Successful homeownership requires extensive preparation—often starting 6 to 12 months before you even attend an open house. Phase 1: The Financial Foundation (12–6 Months Out) how to plan for buying a first home
: Once under contract, do not open new credit cards, take out car loans, or make large purchases. These actions can change your debt-to-income ratio and cause your mortgage approval to be rescinded. Common Mistakes to Avoid
Phase 2: Building Your Team and Securing Financing (6–3 Months Out) : Do not settle for the first quote
Before looking at listings, you must solidify your financial standing to ensure you are "mortgage-ready".
With a pre-approval in hand, you can move into the active house-hunting stage. Buying your first home is likely one of
: While 20% avoids private mortgage insurance (PMI), many buyers qualify for loans with as little as 3% or 3.5% down.