Day: May 22, 2022

The First-Time Homebuyer’s Guide: Everything You Need to Know to Buy a Home

For many of us, buying a home is one of the most important — and most expensive — financial decisions we’ll ever make. The first-time home buying process can feel especially daunting if you’re not armed with the information you need to make sound choices.  

We’ve broken down everything you need to know about buying a home for the first time in 11 steps. 

What is a first-time homebuyer? 

Generally speaking, a first-time homebuyer hasn’t owned a home before. That may seem obvious, but the definition of a first-time homebuyer is broader than you might expect. You could also qualify as a first-time homebuyer if you’ve been a homeowner in the past — as long as you haven’t owned a home for at least three years. 

First-time homebuyers are often eligible for specific programs and discounts that can make buying a home more affordable. For example, an FHA loan,

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