To Know When Buying A House: What

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

: 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 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 : Keep an emergency fund that covers 3–6

: Define your non-negotiables (e.g., number of bedrooms, yard size) versus features you can add later (e.g., smart home tech, new flooring). Conventional loans can require as little as 3%

: Never waive a home inspection to speed up a deal. A professional can uncover structural issues, mold, or failing systems (HVAC, roof, plumbing) that could cost you thousands in repairs.

It is easy to get distracted by "shiny" features, but focus on the elements you cannot easily change.

: A lender will require an appraisal to ensure the home is worth the loan amount. If the appraisal comes in low, you may need to renegotiate the price or cover the difference in cash.