4 tips for spring home buyers: Confidently prepare, budget, and buy

Spring is the busiest home-selling and home-buying season in most areas, bringing much more competition for homes. The good news is that with some planning, you can feel more confident about your budget, your financing, and next steps.

Current data suggest the market could finally be swinging back in the buyer’s favor post-pandemic. According to a Q1 2026 Redfin News report, there were an estimated 44% more home sellers than buyers and new home listings are up 4.6% year over year via Zillow’s March 2026 Report.

Whether you’re a first-time buyer or looking to move, you can prepare with these tips.

What you'll learn

• Why your credit score matters when applying for a mortgage
• How mortgage prequalification can strengthen your offer
• The common costs of buying a home
• How to build a realistic wish list

Why your credit score matters when applying for a mortgage

Before you fall in love with a home listing, it’s important to know your credit score. Your credit score is one of the key factors lenders consider when evaluating your mortgage application—and it can influence your interest rate and loan terms. While there’s no definitive credit score minimum, a 620 score is generally considered ideal to qualify for a standard mortgage loan.

• Check your score and credit report early. That gives you time to address surprises (like errors or outdated information) before you apply.
• Understand what lenders see. The score you view may differ slightly from a lender’s version because scoring models can vary, and your credit activity changes over time.
• Use it to plan your next move. If your score needs work, you may decide to pause home shopping, reduce other debt, or save for a larger down payment.

Alliant members can access their credit scores through online banking, but you can also request a free credit report from each of the “big three” credit reporting agencies (Equifax, Experian and TransUnion) once a year via annualcreditreport.com.

How mortgage prequalification can strengthen your offer

If you’re buying in a competitive market, getting pre-qualified can give you an edge when buying a home, especially if you wind up in a bidding war. This shows a seller you’re serious and having a prequalification helps get you to a quicker closing time, which could persuade a seller to take your offer over someone else’s.

• Time it right. Many prequalifications are valid for about 60–90 days, so it’s best to start once you’re actively planning to buy (not just browsing).
• Be prepared to share financial information. A lender may review your credit and request documentation such as pay stubs, W-2s, and bank statements.
• Simplify your path to closing. While prequalifying isn’t a final loan commitment, it can help speed up the underwriting and approval process once you have an accepted offer.

You can prequalify now for an Alliant Mortgage without an application fee.

The common costs of buying a home

Buying a home is more than just a mortgage payment. When you buy your home, you’ll face closing costs, which can range from two to five percent of the home’s purchase price, according to Zillow. So, with the average home costing around $400,000, you could pay between $8,000 and $20,000 in closing costs. Planning ahead can help you avoid stretching your budget too thin.

• Closing costs These may include lender fees, appraisal, title charges and more. They often range from about 2% to 5% of the purchase price (though your actual costs vary by location and loan type). Check out this handy map of closing costs by state to get a better idea of the expenses you may face.
• Home inspection and moving expenses. Inspections can help you spot issues early, and moving costs can be higher than expected.
• Utilities, maintenance, and repairs. A larger space often means higher utility bills—and even well-kept homes need upkeep.

As you research neighborhoods, ask your real estate agent or the seller’s agent about typical utility costs for the homes you’re touring. Pair that with estimated taxes, insurance, and maintenance costs to understand the total cost of ownership.

How to build a realistic wish list

A wish list is helpful, but the most successful home buyers balance “must-haves” with what’s available in their budget. Before you start house hunting, research online to find out what the homes in your price range offer in your desired neighborhood. This will help you determine what you might be willing to compromise on.

• Separate needs from nice-to-haves. For example: number of bedrooms may be a need, while a renovated kitchen might be a preference.
• Pick your “non-negotiables.” Is it location, commute time, school district, outdoor space, or something else?
• Decide what you’ll trade. If you want a larger yard, would you consider a different neighborhood? If location is the priority, could you accept fewer updates in the home?

The spring home-buying season is exciting, but it can be stressful if you’re not prepared. When you know your credit, line up financing, and budget for the full cost of buying a home, you’ll have an advantage when you finally find and put an offer on that perfect place.

Check out Alliant’s home affordability calculator to see how much house you can afford.