To buy a house with a loan, follow these steps: secure pre-approval, save for a down payment and closing costs, tour properties, negotiate an offer, obtain mortgage financing, and close the sale. Pre-approval from a lender improves credibility with sellers and determines your budget. A down payment (as low as 3.5% for FHA loans) and closing costs (typically 2-5% of the loan amount) are required. Choose a mortgage type based on credit score, income, and loan terms. For example, conventional loans require a 620+ credit score and 20% down, while VA loans offer no down payment for military veterans.

This process ensures financial readiness and aligns with market standards. Pre-approval reduces offer rejection risks, as 68% of sellers prioritize pre-approved buyers (National Association of Realtors, 2023). Down payments and closing costs vary by loan type: FHA loans require 3.5% down (U.S. Department of Housing and Urban Development), while conventional loans need 20% to avoid PMI. Closing costs average $5,000-$8,000 nationally (Federal Housing Finance Agency, 2022). Mortgage interest rates affect long-term costs; the average 30-year fixed rate was 6.5% in Q3 2023 (Freddie Mac). Securing financing before house hunting saves time and strengthens negotiating power. Closing typically takes 30-60 days, involving title searches, appraisals, and lender finalizations. Proper planning mitigates risks like default and ensures sustainable homeownership.