House | Process Of Buying A

Your lender will order an appraisal to ensure the home's value matches the loan amount .

This involves a lender checking your finances to give you a specific loan amount. A pre-approval letter is usually valid for 60–90 days and makes your offer more competitive . process of buying a house

Work with your agent to draft an agreement that includes your proposed price and contingencies (conditions that let you back out, like a failed inspection) . Your lender will order an appraisal to ensure

Calculate your monthly "PITI" (principal, interest, taxes, and insurance) . Factor in upfront costs like a down payment (3%–20%) and closing fees (3%–6% of the purchase price) . Work with your agent to draft an agreement

Your loan goes through "underwriting," where the lender verifies all your documents for final approval .

Review your credit score and financial documents. Most lenders look for a score of 620 or higher .

After an offer is accepted, the deal enters a "pending" period where final checks occur.