Abby Badach Doyle

So the important thing to keep in mind when you're budgeting for a house is it's not just the down payment. You do want to have some wiggle room for the closing costs. as well as all of those cash expenses that you'll pay along the way, like a home inspection, things like that, moving costs. So it's not just the down payment.

So the important thing to keep in mind when you're budgeting for a house is it's not just the down payment. You do want to have some wiggle room for the closing costs. as well as all of those cash expenses that you'll pay along the way, like a home inspection, things like that, moving costs. So it's not just the down payment.

Definitely account for a wiggle room for closing costs and other miscellaneous expenses, too.

Definitely account for a wiggle room for closing costs and other miscellaneous expenses, too.

Definitely account for a wiggle room for closing costs and other miscellaneous expenses, too.

To tackle those larger questions about loans and financing, I know Nikki asked about a first-time homebuyer loan. But there's not just one type of loan for first-time homebuyers. There's definitely a lot of options. This is where someone like a mortgage broker can really be helpful in explaining your options and helping you shop around.

To tackle those larger questions about loans and financing, I know Nikki asked about a first-time homebuyer loan. But there's not just one type of loan for first-time homebuyers. There's definitely a lot of options. This is where someone like a mortgage broker can really be helpful in explaining your options and helping you shop around.

To tackle those larger questions about loans and financing, I know Nikki asked about a first-time homebuyer loan. But there's not just one type of loan for first-time homebuyers. There's definitely a lot of options. This is where someone like a mortgage broker can really be helpful in explaining your options and helping you shop around.

So common options for first-time homebuyers include conventional loans. As the name suggests, that's the most common type. Conventional loans allow for lower down payments, that 3% figure that I mentioned before. Another popular option for first-time homebuyers is FHA loans, which are guaranteed by the Federal Housing Administration.

So common options for first-time homebuyers include conventional loans. As the name suggests, that's the most common type. Conventional loans allow for lower down payments, that 3% figure that I mentioned before. Another popular option for first-time homebuyers is FHA loans, which are guaranteed by the Federal Housing Administration.

So common options for first-time homebuyers include conventional loans. As the name suggests, that's the most common type. Conventional loans allow for lower down payments, that 3% figure that I mentioned before. Another popular option for first-time homebuyers is FHA loans, which are guaranteed by the Federal Housing Administration.

Those can be easier to qualify for if you've had credit challenges, if you're building your credit, if you have a lower credit score. So typically, conventional and FHA loans are the most common options for first-time homebuyers.

Those can be easier to qualify for if you've had credit challenges, if you're building your credit, if you have a lower credit score. So typically, conventional and FHA loans are the most common options for first-time homebuyers.

Those can be easier to qualify for if you've had credit challenges, if you're building your credit, if you have a lower credit score. So typically, conventional and FHA loans are the most common options for first-time homebuyers.

For credit score in general, just like everything else, the higher the better. You're going to have a more competitive interest rate. You're going to have more options if you have a stronger credit score. Most borrowers have scores in the high 600s to low 700s, and each lender is going to set their own minimum credit score. score by loan type.

For credit score in general, just like everything else, the higher the better. You're going to have a more competitive interest rate. You're going to have more options if you have a stronger credit score. Most borrowers have scores in the high 600s to low 700s, and each lender is going to set their own minimum credit score. score by loan type.

For credit score in general, just like everything else, the higher the better. You're going to have a more competitive interest rate. You're going to have more options if you have a stronger credit score. Most borrowers have scores in the high 600s to low 700s, and each lender is going to set their own minimum credit score. score by loan type.

I love that you brought that up because that can be such a useful first step and that can really make a difference if you're able to get a lower interest rate with a better credit score. Building that credit as a first step in home buying readiness overall is a really smart place to start.

I love that you brought that up because that can be such a useful first step and that can really make a difference if you're able to get a lower interest rate with a better credit score. Building that credit as a first step in home buying readiness overall is a really smart place to start.

I love that you brought that up because that can be such a useful first step and that can really make a difference if you're able to get a lower interest rate with a better credit score. Building that credit as a first step in home buying readiness overall is a really smart place to start.