The Basics of Buying a Home in Albuquerque Buying a house in Albuquerque, NM is an exciting milestone, but it's important to approach the process with careful planning and preparation. From getting preapproved for a mortgage to finding the right real estate agent, there are several crucial steps that first-time homebuyers in Albuquerque should take to ensure a smooth home buying experience. The journey begins with assessing your financial situation, including your credit score and debt-to-income ratio, to determine your home affordability and secure preapproval for a mortgage. This will not only help you understand your budget but also make you a more attractive buyer to sellers. Next, you'll need to explore various loan options, such as FHA, VA, or USDA loans, and familiarize yourself with the home buying process, including making offers, home inspections, and closing costs.