The home buying journey begins with careful preparation.

First, get pre-approved for a mortgage. This will give you a clear understanding of how much you can afford and strengthen your position when making an offer.

Next, find a qualified real estate agent who understands your needs and the local market.

Finally, define your needs and wants.

Create a list of must-haves and nice-to-haves to help narrow your search. This focused approach will save you time and ensure you find the right home.

Pre-approval is a formal process where a lender reviews your financial information (credit score, income, assets) and determines how much they are willing to lend you. It's more thorough than pre-qualification. Pre-approval is important because:

• It shows sellers you're a serious and qualified buyer.

• It gives you a clear budget, preventing you from looking at homes you can't afford.

• It speeds up the closing process, as much of the financial groundwork is already done.

• The down payment amount varies depending on the loan type and lender. Here are some common options:

• Conventional Loans: Typically require 3-20% down.

• FHA Loans: Can require as little as 3.5% down.

• VA Loans: Often require no down payment for eligible veterans.

• USDA Loans: May also offer zero down payment options for rural properties.

• It's best to speak with a lender to explore the best options for your financial situation.

Beyond the down payment, you'll encounter closing costs, which typically range from 2-5% of the loan amount. These include:

• Lender Fees: Origination fees, underwriting fees, etc.

• Title and Escrow Fees: For title insurance and escrow services.

• Appraisal Fees: To determine the property's value.

• Inspection Fees: For home inspections, pest inspections, etc.

• Property Taxes and Insurance: Pre-paid amounts.

• It's essential to factor these costs into your budget.