You are here: Home > Mortgage 101 > Home Buying Process Home Buying Steps / Process: Step 1 – Getting Pre-Approved Prior To Shopping For A Home It’s obviously important to know how much home you can afford, what type of down payment to budget for, monthly mortgage payment as well as what type of loan program you’ll be using to finance the new property. Certain mortgage loans have residence type, HOA, appraisal or insurance restrictions that your agent needs to be aware of pri