1. Decide what you can afford
Start with income, debts, credit, down payment, interest rate and the full monthly housing expense. Keep emergency savings and likely repairs in the plan instead of using every available dollar at closing.
2. Know your rights
Fair-lending and settlement laws protect consumers from prohibited discrimination and certain abusive practices. Ask questions when costs or terms differ from what was discussed, and keep copies of advertisements, estimates and communications.
3. Shop for a mortgage
Talk with more than one lender or compare multiple investor options. Review loan type, term, rate structure, points, lender credits, mortgage insurance, closing costs and cash to close on a consistent basis.
4. Explore assistance
State and local programs may help eligible buyers with down payment, closing costs or counseling. Understand repayment, forgiveness, income, property and occupancy conditions before accepting assistance.
5. Evaluate the property
Use an independent inspection to understand condition and likely repairs. Review disclosures, title, insurance availability, taxes, association obligations, zoning and any specialist inspections appropriate for the property.
6. Make and protect the offer
Discuss financing, appraisal, inspection and other contingencies with qualified real-estate and legal professionals. Keep earnest money and deadline obligations clear.
7. Close carefully
Review the Closing Disclosure, compare it with the Loan Estimate, ask about unexplained changes and confirm wiring instructions through a trusted channel. Read before signing and keep the complete closing package.
Income, credit profile, recurring monthly expenses, down payment and interest rate all influence affordability. Approval amount and comfortable budget are not always the same.
Personal guidance
Want to discuss how this applies to you?
Greg can help you compare current loan options, documentation, costs and timing for your property and financial goals.
This educational summary was prepared from the referenced official material and reviewed on September 13, 2026. Program rules, limits and eligibility can change. Your lender’s current underwriting requirements and official disclosures control.