10 Things Every First-Time Homebuyer Should Know
Buying your first home is a big deal—and while it’s an exciting milestone, it can also feel overwhelming if you’re not sure what to expect. Between the paperwork, the financing, and all the real estate jargon, it’s easy to feel lost. But don’t worry—here are 10 key things every first-time homebuyer should know to make the process smoother and less stressful. 1. You don’t need 20% down. A lot of people think they have to wait until they’ve saved up a massive down payment, but that’s not always true. There are low down payment loan programs available—some as low as 3% down. In some cases, you may even qualify for down payment assistance or grants. 2. Get pre-approved before you shop. A mortgage pre-approval gives you a clear idea of what you can afford—and shows sellers you’re serious. It can also help speed up the process when you’re ready to make an offer. 3. Know your credit score. Your credit score impacts the interest rate you’ll get and whether you qualify at all. Before a...