First Time Home Buying Process 〈TRUSTED - 2027〉

: Use the 28/36 rule —your mortgage should not exceed 28% of your gross monthly income, and total debt shouldn't exceed 36%.

: While 20% avoids Private Mortgage Insurance (PMI) , some programs like FHA loans allow as little as 3.5% . Closing Costs : Typically 2% to 5% of the purchase price. Phase 2: Building Your Team & Searching first time home buying process

: A score above 740 is excellent, while 620 is the usual minimum for most mortgages. : Use the 28/36 rule —your mortgage should

The home buying process typically takes between and is best navigated in structured phases, starting with financial preparation rather than browsing listings. Phase 1: Financial Readiness & Pre-Approval Phase 2: Building Your Team & Searching :

: Visit open houses and schedule private showings with your agent to get a feel for the neighborhood beyond online photos. Phase 3: Offer, Contract, and Due Diligence The Homebuying Process for First-Time Homebuyers