: While 20% avoids private mortgage insurance (PMI), many buyers qualify for loans with as little as 3% or 3.5% down.

: Do not settle for the first quote. Comparing at least 3 to 5 lenders (banks, credit unions, and online brokers) can save you thousands in interest over the life of the loan.

: Total housing costs should generally remain below 28–30% of your gross monthly income . Beyond the mortgage, factor in property taxes, homeowners insurance, utilities, and a maintenance fund (ideally 1% of the home's value annually).

: A pre-approval letter shows sellers you are a serious buyer and defines your exact price range.