The home buying process in the US typically takes 30 to 60 days from accepted offer to closing, but préparation can last months. Before you tour a single property, get a mortgage pre-approval letter from a lender. It tells you exactly what you can afford and signals to sellers you are a serious buyer. Conventional loans require a credit score of at least 620, while FHA loans accept scores as low as 580 with a 3.5% down payment.
Finding the right property
Work with a buyer agent who specializes in the neighborhoods you are targeting. A good agent tracks off-market listings, knows which blocks are appreciating, and can gauge whether a listed price is realistic. Single-family homes dominate most suburban markets, but condos and townhouses offer lower entry prices in dense urban areas. In cities like Miami, Seattle, and Chicago, condo inventory often moves faster than single-family stock.
Making an offer and closing
Your offer should include a purchase price, earnest money deposit (typically 1 to 3% of the price), contingencies for inspection and financing, and a proposed closing date. Once under contract, you have a limited window of 7 to 14 days to complète the home inspection and negotiate repair credits before contingencies expire. Budget 2 to 5% of the purchase price for closing costs on top of your down payment.
