Starting The Home Buying Process 🏆 🆓

Aim for 3–6 months of living expenses in reserve.

While 20% is ideal to avoid Private Mortgage Insurance (PMI) , some programs like FHA only require 3.5%. starting the home buying process

Buying a home is a marathon, not a sprint. The process typically breaks down into three major phases: , active search , and closing . Phase 1: Financial Preparation Aim for 3–6 months of living expenses in reserve

Your lender performs a final check of your finances to officially approve the loan. The process typically breaks down into three major

Your agent will help you draft a purchase agreement with contingencies (e.g., inspection or financing). Home Inspection and Appraisal:

Once you know what you can afford, it’s time to start the search.

Unlike pre-qualification, a pre-approval requires verified documentation (pay stubs, tax returns) and is essential for making a serious offer. Phase 2: Building Your Team and House Hunting