Excitement, confusion, happiness, panic. If you're going through all these emotions at the same time, then chances are you are thinking about purchasing your first home. Going through the home-buying process for the first time can be overwhelming. If you're just beginning and your head is starting to spin, take a deep breath, then take a look at these suggestions to help you prepare for your home purchase.

Suggestion #1: Check your credit report.
Did you know your credit could affect your future mortgage rates and terms? That's why it's a good idea to make sure your credit report is accurate and ready to be reviewed by lenders. Make sure potential inaccuracies, including signs of potential Identity Theft, won't take you by surprise. Check your FREE CREDIT REPORT HERE when you sign up for credit monitoring.

Suggestion #2: Find out how much you can afford.
When you pre-qualify, the lender will give you an estimate of the loan amount and interest rate, but it is not guaranteed. With a pre-approval, the lender will review your financial situation, including your credit report, and certify you for a loan amount and interest rate.

Suggestion #3: Locate your neighborhood.
Determine what factors are important to you when you evaluate your potential neighborhood, such as school district reputation, local parks, and work commute. If you are wondering about the crime risk in your potential neighborhood, contact the local police department and ask for a neighborhood crime report that lists crime statistics for the area.

Suggestion #4: Find your home.
Are you looking for a brand new home, or an older home? Is yard size important? Do you want a detached residence? Once you find a prospective home, have it inspected thoroughly before making your offer.

Suggestion #5: Get your finances in order.
There are many additional costs involved in a home purchase. Agent, escrow, legal, and appraisal fees, inspection costs, homeowners' insurance, property taxes, and private mortgage insurance are just a few of the extra expenses you will most likely encounter when buying a home. Be sure to do your research!