**Your First Home: How to Get Ready the Right Way**
Buying your first home is one of life’s most exciting milestones—but preparation is key to making the process smooth and successful. Here are the essential steps every first-time homebuyer should take before beginning the house hunt:
**1. Know Your Credit Score**
Your credit score plays a huge role in determining the loan amount and interest rate you're offered. Before applying for a mortgage, pull your credit report from all three major bureaus (Experian, Equifax, TransUnion) and check for errors. Aim for a score of at least 620, but 740+ often qualifies for the best rates.
**2. Avoid Big Financial Changes**
Hold off on financing large purchases, opening new credit accounts, or switching jobs. Lenders want to see financial stability.
**3. Partner with a Preferred Lender**
Consulting with a trusted, local lender early in the process is crucial. A preferred lender will assess your financial picture, explain your loan options, and pre-approve you—giving you a clearer picture of what you can afford and strengthening your offer when you find the right home.
**4. Save for More Than Just the Down Payment**
You’ll need funds for closing costs, inspections, appraisals, and possibly moving expenses. Ask your lender for an estimate of total cash needed at closing.
**5. Get Pre-Approved**
This isn't just a pre-qualification. A pre-approval means a lender has reviewed your finances and is ready to loan you a specific amount.
