What To Know When Buying A House May 2026

: Sellers often won't even look at an offer without a pre-approval letter, which proves you are a serious and capable buyer. What to Know When Buying a House - JN Bank

Before you browse listings, you must understand your true purchasing power. what to know when buying a house

: While 20% down helps you avoid PMI, many programs allow for much less. Conventional loans can require as little as 3% down, while FHA loans allow for 3.5%, and VA or USDA loans may require 0% down. 2. The Search: Prioritizing Your Lifestyle : Sellers often won't even look at an

: 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. Conventional loans can require as little as 3%

: Keep an emergency fund that covers 3–6 months of living expenses separate from your down payment.

: 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

: Define your non-negotiables (e.g., number of bedrooms, yard size) versus features you can add later (e.g., smart home tech, new flooring).