February 24, 2026
Buying a home is one of the biggest financial decisions you'll ever make. It's exciting, but it can also feel overwhelming if you don't know what to expect. The good news? The process is simpler than you think. From application to closing, we guide you through every step. Our job is to make the mortgage piece as smooth as possible so you can focus on finding the right home.
Here are five things every buyer should know before getting started.
1. Get Pre-Approved Before You Start Shopping
Before you fall in love with a house, you need to know what you can actually afford. A pre-approval gives you a clear budget based on a verified review of your income, credit, and assets. It also shows sellers that you're a serious, qualified buyer, which can give you an edge in competitive markets.
A pre-approval is different from a pre-qualification. Pre-qualification is a rough estimate. Pre-approval is the real deal, backed by documentation. It puts you in a much stronger position when it's time to make an offer.
2. You Don't Need 20% Down
One of the biggest myths in real estate is that you need to put 20% down to buy a home. That's simply not true anymore. Conventional loans are available with as little as 3-5% down. FHA loans require just 3.5%. And if you're a veteran, VA loans offer 0% down.
Yes, putting more down reduces your monthly payment and may help you avoid mortgage insurance. But waiting years to save 20% when you could be building equity today isn't always the smartest move. We'll help you weigh the pros and cons based on your specific financial picture.
3. Your Credit Score Matters, But It's Not Everything
Your credit score plays a role in the rate you'll qualify for, but it's not the only factor. Different loan programs have different requirements. Conventional loans typically start at a 620 score. FHA loans can work with scores as low as 580, and in some cases even 500 with a larger down payment.
If your credit isn't where you want it to be, that doesn't mean homeownership is off the table. It might just mean a different loan program is the better fit right now. And if you need a little time to improve your score before applying, we can help you build a plan for that too.
4. Budget for More Than Just the Mortgage Payment
Your monthly mortgage payment is only part of the picture. As a homeowner, you'll also need to account for property taxes, homeowners insurance, and potentially mortgage insurance and HOA fees. On top of that, there are closing costs to plan for, which typically run 2-5% of the purchase price.
None of this should scare you off. It just means going in with your eyes open. When we run your numbers during pre-approval, we factor in the full picture so there are no surprises at the closing table.
5. The Right Loan Makes All the Difference
Not every mortgage is the same, and the right loan for your neighbor might not be the right loan for you. A 30-year fixed gives you the lowest monthly payment and long-term stability. A 15-year fixed saves you a ton in interest. An ARM can make sense if you plan to move within a few years. FHA and VA loans open doors for buyers who might not qualify for conventional financing.
This is where working with an experienced loan officer pays off. We take the time to understand your goals, your budget, and your timeline so we can match you with the loan that actually fits your life.
Ready to Take the First Step?
Buying a house doesn't have to be complicated. It starts with a conversation. Whether you're just starting to think about homeownership or you're ready to make an offer this weekend, we're here to help you move forward with confidence.
Contact John Pennington at Edge Mortgage USA to get pre-approved and start your home buying journey today.
