Life events · Guide
The purchase price is only the headline. This is the financial sequence of buying a home: credit, down payment, rate shopping, and the costs that show up at closing and after.
Pull your credit a year out
Rate tiers move meaningfully with your score. A year gives you time to dispute errors, pay down utilization, and avoid new credit before underwriting.
Size the real budget, not the pre-approval
Lenders approve more than most budgets comfortably carry. Work backward from the monthly payment you want, including taxes, insurance, and maintenance (~1% of value per year).
Choose the down payment deliberately
20% avoids mortgage insurance, but 5–10% with cash reserves intact often beats being house-poor. PMI drops off; an empty emergency fund doesn't refill itself.
Shop at least three rate quotes
Rate spread between lenders on the same borrower routinely exceeds a quarter point: tens of thousands over a 30-year term. Quotes within a ~45-day window count as one credit inquiry.
Budget closing costs at 2–5%
Title, escrow, appraisal, transfer taxes, prepaid insurance and interest. Ask for the lender's Loan Estimate early and compare line by line: some fees negotiate.
Don't skip the inspection to win the bid
Waiving inspection trades a few thousand dollars of certainty for open-ended risk. If you must compete, shorten the window rather than waiving it entirely.
Price homeowners insurance before you offer
In some markets coverage is now the deciding line item. Get a real quote for the specific address: flood and fire zones surprise people at closing.
Keep the move-in reserve
The first year brings furniture, repairs the inspection flagged as 'monitor', and at least one appliance. A reserve equal to 1–2% of the price keeps it off the cards.
Astra runs this checklist with you.
Every step above is a guided project inside Astra, with your real accounts and numbers.
Educational information, not professional financial, legal, tax, or investment advice. Programs, limits, and windows vary by state and plan. Verify details for your situation.
Also in this series: Having a baby · Getting married · Losing a job · Starting a business · Turning 65 · Caring for aging parents · Going through a divorce · Facing a medical crisis · Losing a loved one · Sending a kid to college · Inheriting money · Special needs planning · Relocating to a new state · Planning for early retirement