Nine steps to owning a home.

Before searching, list the features you need, identify neighborhoods that may fit, and begin building a realistic budget.

The original guide suggests using roughly one-third of net monthly income as an initial mortgage-payment reference. Treat that only as a starting point—debts, taxes, insurance, HOA dues, maintenance, savings, and your comfort level also matter.

Discuss your housing needs, future plans, timeline, and priorities. Review the mortgage and housing markets, broader economic factors, and the neighborhoods and schools that matter to you.

Morgan can also coordinate the loan process and help you compare mortgage options so you can pursue approval before making an offer.

Your agent searches available homes against your criteria, screens out poor matches, and schedules tours at convenient times.

During tours, compare both strengths and weaknesses and say clearly what you like or dislike. It is normal for the must-have list to change as you see homes; the search can then be refined around what has become most important.

Local knowledge helps distinguish fast-moving areas that require prompt action from slower areas where buyers may have more time. It also helps identify when a list price may have room for negotiation and when a property appears priced to sell.

Ask questions and expect clear answers. Market context should help you stay informed throughout the transaction, not pressure you into a decision.

When you find the right home, the purchase offer should reflect your needs and the property. Depending on the situation, it may include conditions involving financing, inspection, appraisal, disclosures, or clear title.

An earnest-money deposit commonly accompanies the offer and is normally credited as provided in the contract. If the seller accepts, many transactions close in roughly 30 to 60 days, although the actual schedule depends on the agreement and financing.

Many transactions involve a counteroffer. You can accept it, make another counteroffer, or decline and continue searching.

The right negotiating approach depends on market conditions, competing interest, your priorities, and your budget. The goal is an agreement that works for you—not simply winning a negotiation.

After the contract is signed, work closely with your lender to complete the loan. Prior approval can reduce delays, but you still need to respond promptly and keep financial documents current.

Your real estate professional coordinates the property information the lender needs while appraisal, title, insurance, and other transaction requirements move forward.

For most covered mortgages, federal disclosure rules require the lender to provide a Loan Estimate within three business days after receiving an application. It outlines estimated loan and closing costs; review it carefully and ask about anything that is unclear.

Final signing usually takes place through a title or escrow company. Once the required documents, funds, and conditions are complete, the transaction can record and close.

Congratulations—once the transaction closes and possession is delivered according to the contract, it is time to move into your new home.