Here are three predicaments first-time buyers may encounter along the purchase journey:

Going it alone. It’s great to do some online home shopping and you might see homes in neighborhoods you’re considering and think a quick visit can’t hurt. This is the first big mistake. Your first step should be talking with a lender, real estate agent, or other trusted adviser to help you understand if you’re ready to buy or if renting could be a better option for you.

Only 46 percent of buyers did not get the first home on which they made an offer, demonstrating that in today’s fast-moving market, “disappointment and competition are now part of the process.” You need an ally who knows the system inside and out.

Looking at homes you can’t afford.
It is extremely import to get a pre-approval before seeing any homes. Pre-approval involves completing a loan application and submitting documentation like W-2s, tax returns, and pay stubs.

And remember, being approved for a certain amount doesn’t mean you have to spend that much. Many first time buyers try to max out on how much they can spend and it can get them into trouble.

Not comparing mortgage quotes.
Just because you have worked with one lender, or gotten pre-approved by them, doesn’t mean you have to stick with them. In fact, to get the best loan terms, you should shop around and compare quotes from different lenders. By not getting quotes from multiple lenders you’re leaving money on the table.