Preparing to shop for your mortgage

Buying a home is exciting. Choosing a mortgage to pay for your new home is just as important. Don’t rush into it.

Goals for this phase

• Determine how much you want to spend on a home
• Decide if it’s the right time to buy a new home
• Gather your application paperwork

Action steps

Before you start shopping for a home and a mortgage, set yourself up for success by taking time to prepare. Use our step-by-step guide to check your credit, assess your finances, set your home-price budget, and more.

• Get your money situation in order
• Figure out how much you want to spend
• Consider whether it's the right time for you to buy
• Create a loan application packet

Tools for this phase

Credit report checklist

Spending tracker

Track your spending to know how much you can afford for a monthly payment.

Interest rate explorer

The interest rate you expect to receive helps you decide how much to spend on a home.

Visit our sources page to find more about the facts and numbers we reference.

The process and forms described on this page reflect mortgage regulations that apply to most mortgages.

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About links and references

This resource guide includes links and references to third-party resources or content that consumers may find helpful. The Bureau does not control or guarantee the accuracy of this third-party information. By listing these links and references, the Bureau is not endorsing and has not vetted these third parties, the views they express, or the products or services they offer. Other entities and resources also may meet your needs.