Don't be afraid to ask for closing cost credits or repairs if the house needs work. Phase 4: Due Diligence Once an offer is accepted, you enter "Escrow."
Your bank will send an appraiser to ensure the home is actually worth what you’re paying. home buying guide pdf
Before you hit Zillow, you need to know what you can actually afford. Don't be afraid to ask for closing cost
This is the final deep dive into your finances by the lender. Pro tip: Do not make any large purchases (like a new car) or open new credit cards during this time! Phase 5: Closing Day This is the final deep dive into your finances by the lender
A pre-approval letter tells sellers you’re a serious buyer with backed funding. In a competitive market, you can't win without one. Phase 2: Building Your Team
While 20% is the gold standard to avoid Private Mortgage Insurance (PMI), many programs (like FHA) allow for as little as 3.5% or even 0% down.
Hire a professional to find the hidden "skeletons" in the walls. This is your chance to back out if there are major structural or safety issues.