- home >
- purchase >
- homebuyer's guide >
- step 1
Before you start to look for a house, it's important to have a solid home-buying plan in place. Your plan is a roadmap for helping you reach homeownership.
- Own or rent? First, consider whether it makes more sense for you to buy a home or rent one based on your personal situation. Understanding the benefits of owning, including the potential tax advantages, is a good place to start.
- How much can you afford? If you decide that buying a house is a good option, the next question is how much space you need and how much you can afford to spend. Creating a homebuying budget will help you create realistic goals.1
- What type of house? Once you have a budget in place, consider the different types of housing options that may be available, which may include single-family homes, condos, co-ops and planned unit developments (PUDs).
- Who can help? Finally, ask yourself who you can work with to help achieve your goals. It can be a good idea to partner with lenders and real estate professionals who can address your specific needs as a homebuyer.
Step 2: Understanding mortgage rates
1. Results of the mortgage affordability estimate/prequalification are guidelines; the estimate is not an application for credit and results do not guarantee loan approval or denial.
"The process went very smoothly considering I needed a quick close. Everything was handled well by our Chase Loan Specialist."
– Brian R.
