The first step in buying a home is generally to determine your budget and get pre-approved for a mortgage. This will involve working with a lender to provide information about your financial situation, such as your income, debts, and credit score. The lender will review this information to determine how much of a mortgage you can afford and provide you with a pre-approval letter, which will indicate the amount you can borrow and can be an important negotiating tool when making an offer on a home.
It’s a good idea to shop around and compare mortgage rates and terms from multiple lenders to find the best deal. You may also want to consider working with a mortgage broker, who can help you find the right lender and mortgage product for your needs.
Once you have a clear understanding of your budget and have a pre-approval letter, you can start looking for homes that meet your needs and fall within your price range. It’s a good idea to work with a real estate agent, who can help you navigate the home buying process and find properties that match your criteria.