First-Time Buyers

Programs, loan limits and step-by-step guides for your first home.

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  Down Payment Assistance Explained: Grants, Second Loans and Catches

  How down payment assistance works, who offers it, typical eligibility rules, when the money must be repaid, and how to find your state housing finance agency.

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  Earnest Money Explained: How Much, Who Holds It, When You Lose It

  What an earnest money deposit is, typical amounts, who holds it, the contingencies that protect it, and a worked example on a $350,000 home.

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  FHA vs. Conventional Loan: Down Payment, Credit and Insurance

  Compare FHA and conventional mortgages on down payment, credit scores and mortgage insurance, with a side-by-side example on a $300,000 home.

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  Home Buying Timeline: Every Step From Pre-Approval to Keys

  The steps of buying a home in order, from setting a budget and getting pre-approved to closing day, with the deadlines that set the pace and a sample schedule.

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  Home Inspection Guide: What It Covers and How to Negotiate

  What a standard home inspection checks and skips, when to add radon, sewer scope or termite inspections, typical cost, and how to use the report to negotiate.

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  How Much House Can I Afford? The 28/36 Rule, Worked Out

  Use the 28/36 rule to estimate a realistic home price from your income, debts and down payment, including the taxes, insurance and PMI most estimates skip.

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  How to Get Rid of PMI: The 80% and 78% Rules Explained

  When you can ask your lender to cancel private mortgage insurance, when it must end automatically, and how extra payments can save you thousands.