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To buy a home, obtaining a mortgage pre-approval is essential. This process helps determine your borrowing capacity and interest rates based on your financial information. Pre-approvals are typically valid for 30 to 90 days and can be obtained from multiple lenders for comparison. Key steps include checking your credit score, gathering financial documents, and understanding your budget. While pre-approval indicates potential eligibility, it does not guarantee loan approval, as financial circumstances may change. It's advisable to assess your finances before seeking pre-approval.

National median rents for zero- to two-bedroom units in the 50 largest U.S. metros fell 1% year over year to $1,693, showing continued rent softening through 2025. Median rents remain over 17% higher than in 2019. Only five metros are affordable for two minimum-wage earners under a 30% rent-to-income ratio. Minimum wage increases in some metros next year will improve affordability, reducing required work hours to afford rent.

Buyers decide within 8 seconds if they want a home, so sellers should de-clutter and de-personalize to make spaces inviting. Consult a realtor before major renovations, focusing on cost-effective updates like kitchen and bathroom fixtures or fresh paint. Explore lender programs that offer financial credits to sellers. Being prepared is crucial in a competitive market.

Biweekly mortgage payments can help homeowners pay off their loans faster and save on interest, as they involve making payments every two weeks, resulting in 13 payments per year instead of the usual 12. This method can build equity more quickly but requires careful budgeting and commitment. Potential drawbacks include financial strain and possible prepayment penalties. Alternatives to consider include rounding up monthly payments, applying extra funds, or making an additional annual payment. It's essential to review your budget and goals before deciding on a repayment method.