You Don’t Need 20% Down

Many buyers still believe they need to put down 20%, but that’s simply not true anymore. There are many loan options that allow for much lower down payments — some as low as 3% or even 0% for qualified buyers.

Closing Costs Can Be Covered

Don’t let closing costs stop you from buying. In many cases, your realtor or even the seller can contribute toward those costs, making homeownership more affordable upfront.

Your Credit Score Matters – A Lot

Your credit score plays a major role in your loan approval and interest rate. The better your score, the better your loan terms. If your credit needs some work, now’s the time to tackle it before applying.

Be Ready for Expenses, Upkeep & Repairs

When you’re renting, if something breaks or needs repair you call the landlord and they take care of it. Owning a home means more than just making the mortgage payment. From lawn care to appliance repairs, it’s important to understand the true cost of ownership and budget accordingly.

Keep Some Money in Reserve

Don’t drain your savings to buy your home. You’ll want to keep some cash set aside for unexpected expenses and regular maintenance. It’s key to long-term stability.

Final Thoughts

Buying your first home is a big step — and preparation is everything. Understanding your financial limits, educating yourself, and partnering with a trusted mortgage lender can make all the difference. With the right knowledge, you can avoid costly mistakes and enjoy a smoother homebuying journey. Be sure to consult with an experienced lender to help you navigate the process with clarity and confidence.