Answers to First-time Buyer Questions
Buying your first home is an exciting milestone�but it can also come with a lot of questions. From financing and credit scores to mortgage options and closing steps, understanding the process can help you make informed decisions with confidence. That's why we've compiled straightforward answers to some of the most common questions first-time homebuyers ask. Whether you're just starting to explore the idea of homeownership or getting ready to make an offer, this guide will give you a solid foundation. How much money will I need to buy a house? You'll need enough to cover your down payment plus closing costs (typically 2...6% of the loan amount), as well as additional funds for moving and initial home expenses. How much house can I afford? Your affordability should consider what you can comfortably pay monthly, not just what your lender approves, using your debt-to-income ratio as a guide. Do I need a good credit score? Yes and higher scores help y...