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First Time Homebuyer Tips

Reading Time: 3 minutes
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Highlights
In this article

In this video we go over 3 tips for first time homebuyers, including the 28/36 rule and other guidelines.

Highlights:

  • Know how much you can afford—most lenders follow a guideline known as the 28/36 rule, when it comes to deciding what size mortgage to approve.
  • Check your credit reports and scores before you apply for a mortgage. To qualify for most conventional mortgages, you'll need a minimum credit score of 620.
  • Pick the loan that's right for you. Several first-time homebuyer loans exist, including: FHA, VA and USDA loans.
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