Check your credit report to make sure all the information it contains is accurate. If not, contact the credit bureau to correct it. If the information is accurate, find out your credit score.

An ideal down payment in the eyes of a lender is 20% of the home’s purchase price.

You have a choice of several types of mortgage. One is a conventional (or a regular) loan. Of those, you can choose between a fixed-rate loan and an adjustable-rate loan. There are also government-insured loans, such as a Federal Housing Administration (FHA) loan or a Veterans Affairs (VA) loan.

When you are serious about buying a home, you’ll want to be pre-approved for a mortgage, which is a more involved process than pre-qualification. You’ll submit paperwork that will verify your employment and income, as well as a number of other documents that detail your financial life. You can find a list of common documents you’ll need in our guide on mortgage pre-approval. If you get pre-approved, you can let sellers know. They’ll then consider you a serious buyer.

After you’ve found the home you want and have your offer approved, it’s time to get official by applying for your mortgage loan. You don’t have to apply to one of the mortgage lender​s that gave you pre-approval, but if you’re happy with one of them, apply with that lender.

If your loan application is approved, the next step is closing on your home. The mortgage becomes official on the day you close.