Your first home. A clearer first step.
A practical first-time homebuyer guide to budgeting, loan preparation, preapproval, offers and closing.
Talk through your optionsStart with a comfortable payment
A homebuying plan starts with your life, not a listing price. Consider the monthly payment you can sustain while continuing to save and meet your other obligations. Include property taxes, homeowners insurance, mortgage insurance when applicable, association dues and maintenance.
Keep an emergency cushion in mind. Spending every available dollar at closing can leave little room for repairs, moving expenses or a change in income.
Build your purchase plan
- Review income, recurring debts and available savings.
- Discuss down payment options and the cash needed beyond the down payment.
- Gather financial documents and understand how preapproval works.
- Coordinate a realistic search budget with your real estate professional.
- Compare a complete Loan Estimate when you have an eligible application.
Know the checkpoints
Preapproval can help clarify a budget, but it is conditional. Once you have a contract, the lender reviews the property and verifies application information. You may need an appraisal, additional documentation and a final review before closing.
Ask the questions now
You do not need to know every mortgage term before contacting Harman. Start with your goal, timeline, rough budget and the questions that are keeping you from moving forward.
FURTHER READING
CFPB: Prequalification and preapproval CFPB: Understanding your Loan Estimate CFPB: What is a Loan Estimate?General educational information. Your loan’s requirements and terms must be confirmed for your application. Content reviewed November 4, 2026.