1. Know your numbers.
Start with your credit score, your monthly income, and what you're comfortable spending each month. You don't need perfect credit, many loan programs work with scores in the 580–620 range, and some go lower. If your score needs work, that's not a dead end. It's just step one of your plan.
2. Save with a target, not a guess.
The 20% down payment is a myth for most buyers. FHA loans can require as little as 3.5% down, conventional loans as little as 3%, and VA and USDA loans can be zero down for those who qualify. Down payment assistance programs can help cover the rest. Figure out which programs fit you, and suddenly the savings goal gets a lot smaller. At True North Yates Group we have 100% in house downpayment assistance for 100% FHA loan starting at a 600 FICO.
3. Get preapproved before you shop.
A preapproval tells you exactly what you can afford, shows sellers you're serious, and uncovers any issues while there's still time to fix them. It costs nothing, and it turns "someday" into a real number.
4. Build your team.
A good loan officer and a good real estate agent do the heavy lifting, explaining your options, watching your deadlines, and negotiating on your behalf. You shouldn't have to figure this out alone, and with the right team, you won't. Good news, at True North Yates Group we advocate on both sides of the loan.
5. Stay steady until closing day.
Once you're under contract, keep your finances quiet: no new credit cards, no big purchases, no job changes if you can help it. A few weeks of steady equals keys in your hand.
The bottom line: homeownership isn't reserved for people with perfect credit and piles of cash. It's for people with a plan. If you don't have one yet, a conversation with a loan officer is free, and it's the single fastest way to find out how close you really are.
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