From “can we?” to closing day.

First, set a budget you can live with.

Look at your income, debts, savings, and everyday spending. Leave money for maintenance, utilities, and emergencies. Try a few numbers in the calculator before asking a lender how much you can borrow.

The buying process, in order

1. Get preapproved

   Ask a lender to review your income, savings, debts, and credit. Have pay stubs, bank statements, and tax returns ready. Prequalification is usually an early estimate; preapproval generally involves more checking. A preapproval is conditional, can expire, and is not a final loan promise.

   Ask about loan types and down payment help now. You can compare lenders before choosing one.

2. Choose your team and find your home

   Discuss an agent’s services, pay, and cancellation terms before signing a buyer agent agreement. Write down your must-haves, visit neighborhoods, and compare the full cost of homes—not just their listing prices.

3. Make an offer and agree on a contract

   Work through price, deadlines, and protections such as financing, appraisal, and inspection contingencies. Once the seller accepts, follow the contract’s instructions for your earnest-money deposit. Understand when it could be at risk.

4. Request at least three Loan Estimates

   Once you have a property and the information lenders need, request a written Loan Estimate from at least three different lenders. For most covered mortgages, the lender must provide this form within three business days after receiving your application. You do not need to commit to a lender to get one.

   Compare the same loan type, term, loan amount, and rate-lock situation, ideally on the same day. Look at interest rate, APR, points, lender fees, total monthly payment, cash to close, and the page 3 “Comparisons” section. A lower rate can come with higher upfront fees. Ask each lender to explain differences before you choose.

5. Inspect the home and finish loan approval

   Arrange an independent inspection within your contract’s deadline. Review needed repairs and any options to negotiate or withdraw. The lender usually orders an appraisal to check the home’s value; it is not an inspection. Send requested documents promptly and arrange homeowners insurance.

   Inspections, the appraisal, and loan shopping often overlap. Avoid new credit or major unexplained money movements while the lender finishes its review.

6. Receive and check your Closing Disclosure

   For most mortgages, your lender must make sure you receive the Closing Disclosure at least three business days before closing. This five-page form shows your final loan terms, monthly payment, closing costs, and cash to close. Compare it line by line with the Loan Estimate and ask about anything unexpected.

   Certain major changes require a corrected disclosure and a new waiting period. Other changes may not. Ask your lender how any correction affects your closing date.

7. Do your final walkthrough, then close

   Check the home’s agreed condition and repairs. Before sending money, call your closing company using a phone number you already trust to confirm the wiring instructions. At closing, bring required ID, review and sign the documents, and confirm when the funds, recording, and keys are released. Possession timing depends on your contract and local practice.

Meet the two forms you’ll see.

These are standard federal forms for most closed-end mortgages. Some loans, including HELOCs and reverse mortgages, use different disclosures. The timing rules are more specific than a simple weekday count; ask the lender to confirm your actual deadline.