You have tracked listings on Zillow or other real estate listing websites for several months. You have gone to open houses to take a closer look at properties. You have determined what neighborhoods you want to target. You know how much you can or want to spend. You are almost ready to find your home.

Next, you need to form a team of experts to help you find your home.

The first member of your team is your real estate agent. I know you can find listings on line yourself, but homebuyers need an expert to assist you with the largest purchase you will ever make.

Find an agent who works in your targeted neighborhoods. That agent will know the market and will know when new listings come online. Ask for referrals for your agent. Does this agent communicate well with you? Is his or her style work well with you? Remember the agent works for you.

Make sure you understand how your agent is compensated in real estate transactions.

The next member of your team is your mortgage loan lender. It is useful to get pre-approved for a mortgage loan. You will know you qualify for your loan and you will know exactly how much you can borrow. Also, if you find a home you like, you can move quickly.

You will need to gather documents that your lender needs to underwrite your loan – W2, pay stub, tax returns, and bank and investment statements, etc. Credit history is very important in this process. Do you know your FICO score? You need to be above 600 to begin to qualify for a mortgage loan.

The lender will also be looking at your DTI or your debt to income ratio. The Dodd Frank Act DTI cap is 43%. Other lenders may cap it in the 30% range.

Do you want to lock in the interest rate on your loan? Are you concerned that rates will rise while you are looking? Some lenders charge you a fee for locking in the rate, but it is usually reimbursed at closing.

If you are using FHA for your lending partner, you will need to understand what additional requirements are needed in your home purchase.

You also should consider finding a real estate lawyer to join your team. Buying a house or condo is the biggest expenditure you may ever make. It makes sense to make sure that you have real estate legal expertise. Negotiate the fee with the lawyer upfront.

You have assembled your team. You know what your financial parameters should be. Now you are ready to find the right home for you.

You need to become an informed buyer if you decide to w buy your home. This may be the largest purchase you will ever make, so do your homework!

First step is research the areas where you want to live.

• What neighborhoods do you like?
• Have you walked or driven through the neighborhoods at different times of the day?
• Are there good schools nearby?
• Is there a crime problem in the area?
• Is public transportation nearby?
• What amenities are nearby?

What kind of property do you want?

• A single family home or a condo?
• Do you want outdoor space?
• Do you want a washer and dryer?
• Do you need a great kitchen?
• Do you need parking?
• What style of property do you like?
• Is a view important to you?
• Do you need lots of sunlight in your home?
• Are you willing to take on renovation projects?

Know your rights as a homeowner. Consumer Financial Protection Bureau is a good source of information.

What can you afford? Look at real estate listings of your targeted neighborhoods through Zillow, Realtors.com or local search engines. Research listings for several months to give you a feel for prices, what you like and what you can afford.

How big of a down payment is needed to buy the house you want? The Rule of Thumb is you should have 20% down, but this is probably not realistic. In 2013 down payments averaged 7.5%.

So, how big of a mortgage will you need? There are lots of calculators out there. In addition, you need to make a list of costs that come with home ownership – taxes, utilities, insurance, HOA fees, routine maintenance, trash removal, and repairs. Does the mortgage payment and other associated costs add up to reasonable housing costs for your income and your financial plan?

If you still think home ownership is a viable option, you should research mortgage lenders.

You will need to make the following decisions:

• What is the length of the mortgage loan you want – 15, 20, 25, or 30 years?
• How big of a down payment do you plan to make?
• Do you want a fixed rate mortgage or an ARM (adjustable rate mortgage)? Currently ARMS are only about 10% of the market.

Conventional mortgages are sourced from mortgage lenders – banks and specialized mortgage loan lenders. Conforming conventional loans follow the terms of Fannie Mae and Freddie Mac. Required down payments are from 5-20%.

FHA (Federal Housing Authority) also offers mortgage loans. They have a special program for first time homebuyers. The FHA offers lower credit requirements and lower down payments as little as 3%. The FHA also has a program know as HAWK – Homeowners Armed with Knowledge.

When you are well informed about your needs and the housing market you can begin your search for your home.