Are you thinking to buy a home but have no idea how, or where to start? This article is for you and will guide you on how to begin your first home search.

Tip # 1) Find Out How Much A Home You Can Afford

You can find this by finding out how much your income is and also how much your debt is. It is also important to have a down payment. Banks prefer a down payment of 20%, but there are also other kinds of loans for less than 20% down payment available.

Tip # 2 Look For The Right Home For You

After figuring out how much a home you can afford, you are now ready to look at homes based on that price. Make a list of the area(s) you prefer, the schools you want for your kid(s), the features you want in the home, like the number of bedrooms, bathrooms, living areas, square footage, and so forth. Doing this will help you find the home you want quicker. It is also very important to hire the right realtor to help you with your home search.

Tip # 3 Shop Around For A Loan

The number one mistakes made by home buyers is not shopping around for a mortgage! Always tell the truth one shopping for mortgage quotes. The mortgage can vary based on your down payment, credit history, income, assets, and debt. So please be honest with all the information you provide. Don't hesitate to get mortgage quotes with more than one bank/lender. This will expand your options and help you find the mortgage that is more right for you and for your situation.

Tip # 4 Get A Loan Pre-Qualification Letter

At this point, you should know what kind of home you're looking for and where you would like to live in. The pre-approval is very important to have once you like a house and want to make an offer on it. Without a loan pre-approval letter, sellers have no idea how you plan to buy a house. The pre-approval is your key to buying any house. It should sellers that you have a way of financing for their house which you want to purchase.

The main key to looking to buy a house is hiring the right people to help you reach your goal. Hire the right realtor and you will be in good hands. Remember to always shop for mortgage quotes until you find one that saves you more and works better for you.