Your lender will hire an appraiser to ensure the house is actually worth what you’re paying. If the appraisal comes in low, you may have to cover the "gap" in cash. 7. Closing the Deal
Once the paperwork is processed, you’ll have a "Closing Day." You’ll sign a mountain of documents, wire your down payment, and finally receive the keys.
Don't forget closing costs (usually 2–5% of the home price), inspection fees, and an emergency fund for that inevitable leaky faucet. 2. Get Pre-Approved planning to buy your first home
Before you start browsing Zillow for "dream kitchens," you need to know what you can actually afford.
Once you find "The One," your agent will help you submit an offer. This includes the price, your down payment amount, and —conditions that must be met for the sale to go through (like a successful home inspection or securing your loan). 6. Inspection and Appraisal Your lender will hire an appraiser to ensure
A "pre-qualification" is a conversation; a "pre-approval" is a commitment. Lenders will verify your income, taxes, and debts to tell you exactly how much they will lend you. In a competitive market, you shouldn't even look at houses without a pre-approval letter in hand—sellers won't take your offer seriously without it. 3. Build Your "Must-Have" List Separate your from your Wants .
While 20% is the gold standard to avoid private mortgage insurance (PMI), many first-time buyer programs allow for as little as 3% or 3.5% down. Closing the Deal Once the paperwork is processed,
Change the locks the very first day you move in. You never know who still has a spare key!