Most first-time buyers I work with feel the same thing: excited and a little lost. The good news is the process is predictable once you see it laid out.
- 1
Know your monthly number
Start with the monthly payment you're comfortable with — principal, interest, taxes, insurance and any HOA — not the biggest loan a bank will offer.
- 2
Get pre-approved by a lender
A pre-approval tells you your real budget and shows sellers you're serious. Talk to a local lender about loan types, including FHA, VA, USDA (common for homes outside city limits) and conventional loans, and ask about Mississippi first-time buyer assistance programs.
- 3
Pick your must-haves
Write down three things you can't live without and three you'd like. It keeps showings focused.
- 4
Tour homes and compare
Look at homes in person, and compare asking prices against recent sales nearby — not just against other listings.
- 5
Make an offer with protections
Your offer should include an inspection period and, usually, appraisal and financing contingencies. I'll walk you through each one.
- 6
Inspect, appraise, close
Get a full home inspection (plus termite, and septic or well if it applies). The lender orders the appraisal. Then you sign and get your keys.
Costs first-time buyers forget
- Earnest money when your offer is accepted
- Inspection and appraisal fees
- Closing costs, and homeowners and flood insurance
- Moving, utilities set-up, and a cushion for repairs
Ask your lender for an estimate of all of these up front. Then compare homes in your price range or read my home buying tips.
Questions about your move?
Talk it through with Travis — no pressure, just straight answers about Hattiesburg real estate.