: Keep an emergency fund that covers 3–6 months of living expenses separate from your down payment.
: Budgeting for just the mortgage is a common mistake. You must account for property taxes , homeowners insurance , private mortgage insurance (PMI) if putting down less than 20%, and closing costs —which typically range from 2% to 6% of the purchase price. what to know when buying a house
: Your score determines your interest rate and loan eligibility. Even a small difference in your rate can cost or save you tens of thousands of dollars over the life of a 30-year loan. : Keep an emergency fund that covers 3–6
Before you browse listings, you must understand your true purchasing power. : Your score determines your interest rate and
: Just because a lender approves you for $500k doesn't mean you should spend it. Avoid being "house poor" by ensuring you have enough left for travel, retirement, and life.
: Define your non-negotiables (e.g., number of bedrooms, yard size) versus features you can add later (e.g., smart home tech, new flooring).
: Once you are under contract, do not take out new loans, open credit cards, or change jobs. Lenders re-check your credit right before closing, and major changes can disqualify your loan. Common Mistakes to Avoid