Buver's GUIDE

Ready to get serious about buying your first home? Bypass overwhelm and take it one step at a time. Our ideas and agent insights will help.

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Buying a home is a process, and in this market, you might wonder if ownership is still possible. We think so, and our guide makes it easier.

1 DETERMINE YOUR DOWN PAYMENT

Ideally, you'll have at least 20 percent of the home price to put down to get the best interest rate and avoid paying monthly mortgage insurance. Don't have that much? Don't give up hope. Some state and federal first-time-buyer loans and programs can get you in for as little as 0 percent down, without penalty.

2 MAKE YOUR HOME WISH LIST

Include desired neighborhoods and features in both the “can’t- live-without” and “nice-to-have” categories, says Cindy Stockhaus, a Better Homes and Gardens Real Estate agent in Greenwood, IN. This information drives your agent’s search, helping ensure you're among the first to see new market arrivals.

3 FIND AN AGENT

Ask around for referrals. Open houses are great places to meet agents too, Stockhaus says. Meet with a few to find someone you click with. Ask lots of questions and bring that aforementioned wish list. Remember: Just because your coworker or bestie loved their agent doesn't guarantee they'll be your personal perfect fit.

4 SHOP FOR A LENDER

Check with your bank and local credit union and ask the agent you select for mortgage broker recommendations. Interview at least three. Once you decide, they'll get the preapproval process going so you can house-hunt within your budget—and be ready to make an offer.

how-to Get the Lowest Mortgage Rate Possible