Preparing to buy your first home requires a dual focus on and strategic planning . You should begin by assessing your credit health and saving for upfront costs, which often include a down payment of 3% to 20% and closing costs of 2% to 6% of the home price. 1. Financial Preparation

Lenders evaluate your "4 C's": (ability to pay), Capital (savings), Credit (history), and Collateral (the home's value). The 4 C's of Mortgages - TBA Credit Union