Can I afford to buy a home?
These questions address the biggest concern many first-time buyers have: whether homeownership fits their budget.
- How much house can I afford on my salary?
- How much money do I need to buy my first home?
- What credit score do I need to buy a house?
- How much should I save for a down payment?
- What will my monthly mortgage payment be?
- Can I buy a home with little or no money down?
- What other costs should I expect besides my mortgage payment?
Mortgage rates and financing
Buyers want to understand their financing options and how to avoid paying more than necessary.
- What are mortgage rates today?
- Should I choose a 30-year fixed mortgage or an adjustable-rate mortgage (ARM)?
- Should I get preapproved for a mortgage before looking at homes?
- What is the difference between mortgage prequalification and preapproval?
- How do I find the best mortgage lender?
- Should I pay points to lower my mortgage interest rate?
Timing the housing market
Many buyers worry about purchasing at the wrong time or missing a better opportunity.
- Is now a good time to buy my first home?
- Should I buy now or wait for mortgage rates to drop?
- Will home prices go down in the next year?
- Is it better to buy a home or continue renting?
- What happens if I buy a house and home prices fall?
The homebuying process
First-time buyers also want a clear roadmap from beginning to end.
- What are the steps to buying my first home?
- What should I look for when touring a house, and how do I make a competitive offer?
These are all great questions! Check in with your trusted real estate agent and lender to help you make the right move for you and your specific situation.
