Buying a home is exciting and stressful. You will finally be paying for a home that will be yours, an asset. However, seemingly endless showings, financial challenges and moving can distract you from the excitement. However, you can make your home-buying process easier by following a few simple tips.

Figure Out the Money

Before you look for local real estate, e.g., Suffolk land for sale, your first task should be determining how much house you can afford. You need to account for your mortgage payment, insurance and property taxes. To make this calculation, you need to evaluate your income and debt. Where you live will have a direct impact on how much house you can afford as well.

Then, you need to calculate the costs you will incur when you purchase your house. You may need a down payment of up to 3%, and your closing costs may be up to 5%. You will also have moving costs. Therefore, you need to start saving immediately.

Research Mortgages and Assistance

In addition to researching mortgage options, you should also research buyer’s assistance programs. Some programs offer down payment assistance to first-time home buyers, military veterans and others. Your state, city or county may also offer assistance. Then, seek preapproval.

Address Your Credit

Your credit score will determine the interest rate you pay and the loan amount you are approved for. Therefore, you need to address your credit situation. First, order your credit report and review it carefully. Address any errors immediately. Then, continue paying your bills on time. Lower any consumer credit as much as you can. Do not close your cards even if they are paid off, but do not open new credit accounts or make large purchases. You need to show financial responsibility to gain approval.

Once you get your credit and finances in order and you have researched mortgages and any assistance that may be available to you, you are ready to start working with a realtor and searching for your new home.