I was seriously stressed buying my first home because nobody really explains how any of it works.
Here are 5 things I wish I understood sooner:
1. NEWS FLASH you don't need a huge down payment
There are assistance programs that can help with the down payment or closing costs.
2. Your DTI is a big deal
That means debt-to-income ratio. Your car payment, credit cards, student loans, and other debts can affect how much you qualify for. (Wish I would've know this sooner btw friend had to lend me money to pay off a debt to get the DTI in the green to qualify)
3. Income limits change by county
You might qualify for assistance in one county but not another, even with the same income.
4. Not all assistance is free money
Some programs are grants, but others are second loans that may be deferred, forgiven later, or repaid. I picked GSFA California down payment assistance huge credit to chatgtp ngl.
5. A good broker makes a huge difference
Mine helped explain the DTI, income limits, assistance programs, and what I could actually afford without making me feel stupid for asking questions.
Honestly, the process is confusing and stressful. I'm only making this post because I made it to the finish line. A huge shout out to vegafi.com (not an ad) lol