{"id":35330,"date":"2019-04-16T09:38:36","date_gmt":"2019-04-16T17:38:36","guid":{"rendered":"https:\/\/www.credible.com\/blog\/?p=35330"},"modified":"2023-02-17T07:15:48","modified_gmt":"2023-02-17T15:15:48","slug":"how-to-buy-a-home-in-12-easy-steps","status":"publish","type":"post","link":"https:\/\/www.credible.com\/blog\/mortgages\/how-to-buy-a-house\/","title":{"rendered":"How to Buy a House: Step-by-Step Guide"},"content":{"rendered":"

Buying a home is a big decision, and it can be a time-consuming process. It can take one to two months to shop for a home, plus 14 to 60 days to close on a house once you\u2019re under contract, according to Homes.com<\/a>.<\/p>\n

Learning how to buy a house might feel overwhelming, but you can make the process more manageable by breaking it up into these six easy steps:<\/b><\/p>\n

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  1. Figure out how much house you can afford<\/a><\/li>\n
  2. Get pre-approved for a home loan<\/a><\/li>\n
  3. Hire a real estate agent<\/a><\/li>\n
  4. Visit homes in person<\/a><\/li>\n
  5. Make an offer on your favorite home<\/a><\/li>\n
  6. Closing steps<\/a><\/li>\n<\/ol>\n

    <\/a><\/p>\n

    1. Figure out how much house you can afford<\/h2>\n

    Before you even start looking at homes online, figure out how much house you can comfortably afford with your current budget. Typically, the total value of your new home shouldn\u2019t be more than three to five times your total household income.<\/p>\n

    If you have debt and a tight budget, choosing a less-expensive home so you can have a smaller mortgage payment could be a good idea. On the other hand, if you\u2019re debt free and have fewer expenses, you might be able to splurge on a pricier home.<\/p>\n

    For example: <\/b>If you have a household income of $50,000 and zero debt, you could potentially afford a home valued up to $250,000<\/a>. But if you have student loans and a car payment, you might want to stick with a home valued at just $150,000 \u2014 three times your household income.<\/div><\/div>\n

    Find Out: How to Buy a House With Student Loan Debt<\/a><\/strong><\/em><\/p>\n

    When figuring out how much you can afford, be as accurate with your budget as you can. It will have a big impact on your calculations and pre-approval application later on.<\/p>\n

    <\/a><\/p>\n

    Learn More: <\/strong><\/em><\/p>\n