Knowing your credit score first can help you determine your next steps. Having a credit score higher than 580 is necessary, and having even higher credit scores will give you access to better interest rates. If your credit is too low, you will be able to determine what actions you can take to raise your score at this point.

The lowest down payment options on most programs are 3 to 5% of the purchase price of the home. This doesn’t include your closing costs, so save up a little more than needed for down payment. This cash amount needs to be in your bank account for two months or longer. Since down payment amounts vary, reach out to your mortgage loan originator for more information!

Getting preapproved is an important step. This confirms how much you can afford and shows the sellers that you are a serious buyer, with less risk of complications at the closing table. Most real estate agents will not agree to show you a home without this letter.

If you haven’t already chosen a real estate agent, to guide you through your home search, your negotiation, and your purchase process – your mortgage loan originator can offer you some reputable recommendations.

Your search could be quick or lengthy, but your real estate agent will be there with you every step of the house hunting process until you find your home.

When you have found a home you love, your real estate agent will help you make an offer that is appropriate for current market conditions, the motivation of you as a buyer, and any contingencies necessary for that particular property (like inspections and needed repairs).

It is ideal for you to be present for the home inspection. This way you get a clear take on the condition of the house you’re preparing to buy, from the foundation to the roof. The inspector will verbalize any concerning conditions to you during the inspection, and then will also provide you with a complete report of any needed repairs or defects. Your real estate agent will also use this report to negotiate repairs with the seller.

The closing disclosure will be sent to you to sign at least three days before closings. This document gives you a clear depiction of all figures and costs related to your loan, along with your cash to close amount.

On closing day, make sure your bring your photo ID and a chashiers check for the amount of cash to close, along with any other items requried by the title company or your mortgage loan originator.

Congratulations! You have closed on your new home and can now move in!