A Simple Guide on How to Buy a House


If you are a first-time home buyer, the process may seem daunting. You may dream of homeownership while searching online listings for houses for sale in McKinney Texas, but it can feel easy to get overwhelmed. Luckily, if you take the time to do a little research and seek out professionals to help you, the home buying process doesn’t have to be scary at all. Here is a look at the basic steps.

A Simple Guide on How to Buy a House

1. Save For a Down Payment

In the best case scenario, you will save 20% for a down payment. However, there are many other programs out there that allow for a lower down payment. A few to look into are VA loans or the Single Family Housing Guaranteed Loan Program.

2.Work on Your Credit Score

The better your credit score, the better your mortgage rate. Be sure to make all of your payments on time and do your best to boost your score before you apply for a mortgage.

3. Seek Pre-approval for a Home Loan

Meet with loan officers at a few different mortgage companies to get pre-approved for a loan. This will help you to understand how much home you can afford and also help to show that you mean business when making an offer on a home. 

4. Find a Great Real Estate Agent

Ask friends and family members for real estate agent recommendations. Interview a few to find the best fits for your needs. You will be spending a lot of time with this person, so make sure that you are feeling comfortable with them.

5. Look for Homes

Next, the part of the home buying process that is the most fun, looking for homes for sale in McKinney. Start your home search online, narrow down your selections, and then go check them out. Make a list of must-haves and nice-to-haves when narrowing down your choices.

6. Put in an Offer

Once you find the right candidate, make an offer! Your real estate agent will help you write it up.

7. Home Inspection

If the seller accepts your offer, it’s important to then hire a home inspector. The home inspector will look at every aspect of the home, finding any problems and also educating you about the home and its condition. If there are any problems, you can ask the seller to fix them or back out of the deal.

8. Home Appraisal

To complete the loan process, the lender will need to have a home appraisal. This process makes sure that the home is a good investment for them and is worth the amount of the offer. 

9. Closing

If all goes well with the inspection, appraisal, and completing the loan, the closing can occur. This is when all needed money changes hands and you get the keys to your new home. 

10. Moving Day!

After closing, you can move in and all of your hard work has paid off. Time to get painting, decorating, and situated in your new home.