What To Do To Prepare To Buy Your First Home -

: Follow the 3-3-3 rule —have three months of living expenses saved and three months of mortgage payments in reserve. 2. Do Your Homework on the Market

: This is the first thing lenders review. A higher score often leads to lower interest rates.

: A pre-approval letter shows sellers you are a serious buyer and have already arranged financing. what to do to prepare to buy your first home

: Interview at least three realtors to find one who understands your specific needs and can negotiate effectively.

: Plan for a down payment (ideally 20% to avoid private mortgage insurance) and closing costs, which typically range from 1.5% to 5% of the purchase price. : Follow the 3-3-3 rule —have three months

: Distinguish between non-negotiables (e.g., number of bedrooms, safety) and things you can compromise on (e.g., paint colors, older appliances).

Gather these documents early to speed up the pre-approval process: A higher score often leads to lower interest rates

: Shop around and compare rates from at least three different financial institutions to find the best loan terms. Preparation Checklist: Documents You'll Need