Bonus tip: First-time homebuyers with a high credit score and strong income history can qualify for a mortgage loan with down payments as low as 3% or even 0% in particular circumstances.

Bonus tip: If you&#39;re currently renting, you&#39;ll need to consider when your current lease expires to plan when you should begin looking for houses. Purchasing a home can take several months, so give yourself plenty of time to look for homes, negotiate, inspect, and buy the property. You can always inquire about subletting your apartment if you purchase a home long before your rental lease ends.

Bonus tip: Don&#39;t close credit accounts, but do pay them down as low as possible, even to a zero balance. Closing credit accounts before buying a house can negatively impact your credit score because it can lower the amount of your available credit and increase your utilization rate.

Bonus tip: While owning a home may be more responsibility than renting, many homeowners describe that owning a home is fulfilling and are eager to care for their home.

Bonus tip: Don&#39;t change jobs until after you close on the home, unless you’re moving because you have a job opportunity that offers a higher income in the same field. They may make an exception if you can show the lender your offer letter and prove a dependable work history. The lender will verify your employment status again before closing, and if your situation has changed for the worse, they could withdraw their offer to loan you the money.

Bonus tip: You don&#39;t have to wait until you&#39;re ready to buy a house to start researching the housing market. You can subscribe to real estate newsletters or follow real estate reporters on social media to stay updated on the latest news.

Bonus tip: Shop in late spring to be in your new house by the start of the new school year. Shop in early summer to move before the holidays.

Bonus tip: Use Google Maps or Street View to take a virtual tour of the neighborhoods you&#39;re interested in.

Bonus tip: HiHome not only can help instantly match you with homes that meet your criteria, but we can also help match you with pre-vetted quality buyer&#39;s agents who meet your needs. Contact us if you are interested in getting matched with a buyer&#39;s agent.

Bonus tip: Have all of your documents prepared to expedite the application process. This may include bank statements, tax records, loan documents, pay stubs, credit card statements, and other proof of debt, income, or assets.

Wondering whether to rent or buy a home? Here’s a detailed guide to help you understand if you are ready to buy a home. Consider your savings, employment, stage of life, and more.

Am I Ready to Buy a Home? 10 Signs You’re Ready to Buy Instead of Rent

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