For active-duty military, veterans, and surviving spouses, offering zero down payment options.
Attend open houses and private showings with your agent. Don't just look at the house itself; look at the neighborhood. Visit the area at different times of the day and week. Check traffic patterns during your potential commute times. Look at the condition of neighboring homes. Phase 4: Making an Offer and Closing
Best for those with good credit and a steady down payment. guide to buying your first house
Once you find the right house, the pace accelerates rapidly. Your agent will help you navigate this legally binding phase. 1. Make an Offer
Your lender will hire an independent appraiser to ensure the home is actually worth the amount you agreed to pay. Lenders will not lend more than the appraised value of the home. If the appraisal comes in low, you will have to negotiate a lower price with the seller or pay the difference out of pocket. 4. Final Walk-Through and Closing Visit the area at different times of the day and week
As a buyer, using a real estate agent is generally free to you (the seller usually pays the commission). Look for an agent who specializes in first-time buyers and knows your target neighborhood well. They will guide you through negotiations, paperwork, and scheduling tours. 2. Create Your "Needs" vs. "Wants" List
Lenders like to see that you will have some money left in the bank after closing to cover emergencies or immediate repairs. 3. Determine Your Budget Phase 4: Making an Offer and Closing Best
Backed by the Federal Housing Administration, great for buyers with lower credit scores and smaller down payments (as low as 3.5%).