1. Figure out how much you can afford
What you can afford depends on your income, credit rating, current monthly expenses, down payment and the interest rate.
2. Know your rights
3. Shop for a loan
4. Learn about homebuying programs
- Homebuying programs in your state
- Let FHA help you (FHA loan programs offer lower down payments and are a good option for first-time homebuyers!)
- HUD’s special homebuying programs
5. Shop for a home
6. Make an offer
7. Get a home inspection
8. Shop for homeowners insurance
9. Sign papers
You’re finally ready to go to “settlement” or “closing.” Be sure to read everything before you sign!
Resources provided by U.S. Department of Housing and Urban Development