The first step in buying a home is to determine how much you can afford. If you do not have enough cash, apply for a loan from a bank. Banks give loans based on your income. If your income is not enough, you can add a friend(s) or relative(s) to the loan application. Your combined incomes might be enough to qualify for the loan. Use one of the calculators to determine the amount you can afford to pay. Banks usually require you to pay them 20% of the purchase price as downpayment, and they will charge approximately 7% interest. You can set the loan up for payments for 20 years. Example: Home price is 5,000,000 x 20% = 1,000,000. You will have to pay the bank a downpayment of 1,000,000, and your monthly payments will be 4,000,000 divided by (20 years x 12 months per year) = 240 payments plus 7% interest = your monthly loan payment.