Guide To Buying Your First House May 2026

With your pre-approval letter in hand, you are ready to assemble your team and start looking at houses. 1. Hire a Real Estate Agent

As a buyer, using a real estate agent is generally free to you (the seller usually pays the commission). Look for an agent who specializes in first-time buyers and knows your target neighborhood well. They will guide you through negotiations, paperwork, and scheduling tours. 2. Create Your "Needs" vs. "Wants" List guide to buying your first house

Pull your credit reports from the major bureaus to check for errors. With your pre-approval letter in hand, you are

For active-duty military, veterans, and surviving spouses, offering zero down payment options. Look for an agent who specializes in first-time

Many first-time buyers believe they need a 20% down payment. While 20% is ideal because it eliminates the need for Private Mortgage Insurance (PMI), many loan programs allow as little as 3% to 5% down.

Don't just go with your primary bank. Get quotes from multiple sources, including local banks, credit unions, and online brokers. Compare their loan estimates, looking closely at both the interest rates and the loan origination fees. 3. Understand Your Loan Options