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
Number of bedrooms, school district, or commute time. how to buy my first home
It’s easy to get distracted by a pretty kitchen. Stay grounded by making a list: When you find "the one," your agent will
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. The "Due Diligence" Phase Number of bedrooms, school
Your lender will require an independent value check to ensure the house is worth what you’re paying. 7. Closing Day
Once your offer is accepted, you enter escrow. Never skip these two steps:
A higher score gets you lower interest rates.