What To Know When Buying A House May 2026

: Your score determines your interest rate and loan eligibility. Even a small difference in your rate can cost or save you tens of thousands of dollars over the life of a 30-year loan.

Before you browse listings, you must understand your true purchasing power. what to know when buying a house

: Budgeting for just the mortgage is a common mistake. You must account for property taxes , homeowners insurance , private mortgage insurance (PMI) if putting down less than 20%, and closing costs —which typically range from 2% to 6% of the purchase price. : Your score determines your interest rate and