First-Time Home Buyer Tips

Buying your first home is one of the most exciting and most stressful things you will ever do. The process is full of jargon, decisions, and people who profit from your confusion. The Vault Library has vetted the free YouTube channels that give first-time buyers a real education - not a sales pitch from a lender or agent.

What You Need to Know

• ✓Down payment assistance programs exist in most states - research them before you assume you need 20 percent
• ✓Pre-approval is not the same as pre-qualification - know the difference
• ✓Your debt-to-income ratio matters as much as your credit score
• ✓The seller pays both agents in most transactions - you do not pay your buyer's agent
• ✓Do not make any large purchases or change jobs while your loan is in process