It’s been said that if you stay ready, you don’t have to get ready. This is especially true for homebuying. You don’t want to wait until the last minute to prep for such a major life decision. There are steps you can take right now to make sure you’re ready to move when the timing is right for you.

We have partnered with Freddie Mac to demystify the homebuying process with insider tips to help you budget, understand the buying process, and navigate the emotional rollercoaster of homeownership.

Get Financially Prepared

Before you start thinking about homeownership, you need to get your money situation right. Money management is a skill set that will help you through every stage of your life, setting you up for long-term stability. Once you have your finances under control, you can start thinking about how much you can afford to spend on a home.

Take advantage of Freddie Mac’s CreditSmart®, a free financial education resource, to learn more about budgeting, saving and managing your credit score.

Learn the Process

Navigating the homebuying journey can be overwhelming, especially for first-time buyers. As you level up your adulting status, it’s essential to empower yourself with knowledge at every step, from pre-approval to closing day. Understanding the process will help you make informed decisions and achieve your dream of homeownership confidently.

My Home by Freddie Mac® has a helpful step-by-step guide to home buying that breaks down the ins and outs of the process.

Assemble Your Squad

Your homebuying team should include three main players: housing counselor, real estate agent and lender– consider them your super squad during the process. These professionals will guide you through the homebuying journey and help you achieve sustainable homeownership. As you choose each one, prioritize trust and comfort. This squad will be critical to your decision-making, so you want to make sure that you are tactical in assembling this team of professionals. Don’t hesitate to meet with several folks from each group to ensure you have a team that is going to work for you. Freddie Mac research shows that shopping for lenders can save you as much as $3,000 over the life of your loan.

Get Familiar with Your Options

As a first-time homebuyer, there are a lot of products designed to help you get into a home. For example, with Freddie Mac’s HomeOne® mortgage, first-time homebuyers can make down payments as low as 3%. Other mortgage products can provide favorable terms for specific home types, like manufactured homes.

There are also a number of programs available to first-time homebuyers that can provide financial assistance for down payments and closing costs. Talk to your lender to discuss what options are available to you.

For more information to help you through every step of the homebuying journey, visit My Home by Freddie Mac.