What Is My First Step In Buying A Home Apr 2026

Your credit score is the primary factor determining your mortgage interest rate and loan eligibility.

: Scores above 740 typically qualify for the best available interest rates, which can save you tens of thousands of dollars over the life of the loan. 2. Determine Your Affordability what is my first step in buying a home

: Obtain a free copy from AnnualCreditReport.com to identify any errors. Your credit score is the primary factor determining

: Most conventional lenders require a score of at least 620 . Determine Your Affordability : Obtain a free copy

The absolute first step in buying a home is to determine exactly what you can afford. Before browsing listings, you must establish a realistic budget based on your actual income and expenses, not just what a bank might approve you for. 1. Evaluate Your Credit Score

Financial experts recommend using specific rules of thumb to avoid becoming "house poor":