This is the final deep dive into your finances by the lender. Pro tip: Do not make any large purchases (like a new car) or open new credit cards during this time! Phase 5: Closing Day
Your agent will help you determine a fair price based on "Comps" (recent sales of similar homes nearby). home buying guide pdf
While 20% is the gold standard to avoid Private Mortgage Insurance (PMI), many programs (like FHA) allow for as little as 3.5% or even 0% down. This is the final deep dive into your finances by the lender
Hire a professional to find the hidden "skeletons" in the walls. This is your chance to back out if there are major structural or safety issues. home buying guide pdf