The dream of homeownership is universal, but the buying process in the U.S. can be confusing if no one explains it. Here is every step—in plain language—so you are prepared.
Step 1: Review your credit score
For a conventional loan you typically need at least 620. For FHA, the minimum is 580 with 3.5% down, or 500 with 10% down. Check your score for free at AnnualCreditReport.com.
Step 2: Save for a down payment
You do not need 20%. Some programs allow 3–3.5% down. On a $300,000 home, that is $9,000–$10,500. Research down payment assistance programs in your state.
Step 3: Get pre-approved
Before you shop, meet with a lender (bank or mortgage broker) and get a pre-approval letter. It tells you exactly what you can afford and makes you a serious buyer.
Step 4: Find your real estate agent
Work with an agent who speaks Spanish and knows your market. The buyer's agent is usually paid by the seller—you typically do not pay out of pocket.
Step 5: Search and make an offer
Your agent will show properties within your budget. When you find the right one, you make an offer. Be ready to negotiate.
Step 6: Inspection and appraisal
Always get a professional inspection ($300–$500). It can save you from $10,000+ in hidden issues. The lender orders the appraisal to confirm the home's value.
Step 7: Closing
Closing is when you sign everything and get the keys. Closing costs are often 2–5% of the home price. Read every document carefully—ask questions if anything is unclear.
Special programs for first-time buyers
FHA loans: Low down payment, flexible credit requirements.
USDA loans: 0% down in eligible rural and suburban areas.
VA loans: 0% down for eligible veterans.
State programs: Many states offer down payment assistance for first-time buyers.
Connect with a trusted realtor
At Atton Finance we connect you with licensed agents who speak Spanish and know the assistance programs available in your state.
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