Secrets First-Time Homebuyers Succeed With Essential Advice

Financial Preparedness

One of the most significant steps for first-time homebuyers is ensuring you're financially prepared. This involves saving for a down payment, which typically ranges from 3% to 20% of the home's purchase price². Additionally, it's important to factor in closing costs, which can add another 2% to 5% to the total purchase price. By setting a realistic budget and exploring mortgage options, you can secure a loan that fits your financial situation. Many lenders offer first-time homebuyer programs with favorable terms, so it's worth visiting websites of major banks and credit unions to explore these options.