You provide a "good faith" deposit (usually 1-2% of the price) to show you're committed.
Walking into an open house without a is like going to a grocery store without a wallet. A lender will review your taxes, pay stubs, and debts to give you a specific "buying power" number. This tells sellers you are a serious, capable buyer. Phase 3: The Hunt and the Offer what is needed to buy a home
Lenders look at your credit score to determine your interest rate. A higher score means lower monthly payments. You provide a "good faith" deposit (usually 1-2%
This is where your "must-haves" meet reality. You’ll partner with a real estate agent to tour homes. Once you find "the one": This tells sellers you are a serious, capable buyer
You submit a price along with "contingencies" (conditions that must be met for the deal to go through).