The first step in the home buying process is to get pre-qualified for a mortgage. This involves meeting with a lender to discuss your financial situation and determining how much you can afford to spend on a home. Pre-qualification gives you a clear idea of your budget and shows sellers that you are a serious buyer.

The amount needed for a down payment can vary depending on the type of loan you choose. Generally, conventional loans require a down payment of 5% to 20% of the home's purchase price. FHA loans may require as little as 3.5% down. There are also programs available for first-time homebuyers that offer down payment assistance.

Closing costs are fees associated with the purchase of a home and typically range from 2% to 5% of the loan amount. These costs can include appraisal fees, title insurance, lender fees, and recording fees. It's important to review the Loan Estimate provided by your lender, which outlines all the expected closing costs. Depending on the market closing cost can be negotiated.

The time it takes to close on a home can vary, but it typically takes between 30 to 45 days from the time your offer is accepted. The timeline can be influenced by factors such as the complexity of the transaction, the efficiency of the mortgage process, and the completion of necessary inspections and appraisals.