How to Buy Your First Home in the USA in 2026 — Low Down Payment, Closing Costs, FHA and VA Eligibility

Home prices across the United States remain elevated in 2026. Yet the cost of entering the market — the actual cash you need on day one — is lower than most first-time buyers expect.

Government-backed loan programmes allow down payments as low as zero for eligible veterans and rural buyers. FHA loans accept credit scores from 580 with just 3.5 percent down. Dozens of states offer grants and assistance that reduce upfront cash requirements significantly. The barrier to buying a first home in the US in 2026 is not always price. More often, it is not knowing which programme applies to your specific situation.

This guide is structured around four decisions every first-time buyer must make: whether they qualify, which loan product fits their profile, what the real costs add up to, and whether their target state and market make buying financially sensible right now. Each section gives you the specific numbers and requirements to work with — not estimates, not averages, but the actual criteria lenders and agencies apply.

Who This Guide Is For

This guide is for you if you are:

• Buying your first home in the United States, or buying again after more than three years without owning a primary residence
• A permanent resident, green card holder, or work visa holder exploring US mortgage eligibility
• A veteran or active-duty service member who has not yet used a VA loan
• A buyer with a credit score below 700 who wants to know which loan programmes are still accessible
• Someone earning a moderate income who needs to understand what down payment assistance is available
• A buyer overwhelmed by FHA versus conventional versus VA versus USDA comparisons and wanting a clear framework

Quick Answer

You can buy a first home in the US in 2026 with a down payment as low as zero if you qualify for a VA or USDA loan. FHA loans require 3.5 percent down with a credit score of 580 or above. Conventional loans start at 3 percent down for qualifying first-time buyers with scores of 620 or above.

Closing costs typically add 2 to 5 percent of the purchase price on top of your down payment. Seller concessions, lender credits, and state assistance programmes can reduce or eliminate much of this cost in the right circumstances.

Your immigration status, credit score, income, and the state you are buying in all affect which products are available to you. The sections below break each of these factors down clearly.

Which Loan Fits My Profile? — A Decision Matrix

The table below maps common first-time buyer profiles to the loan products most likely to be available. Use it as a starting point, not a final answer. Lender policies vary and eligibility must be confirmed directly.

Decision One — Am I Eligible?

The First-Time Buyer Definition Is Broader Than You Think

Many buyers assume they do not qualify as first-time buyers because they owned property in the past. The federal government defines a first-time buyer more broadly than that.

Under HUD and IRS guidelines, you are considered a first-time buyer if:

• You have not owned a principal residence in the past three years
• You previously owned jointly with a spouse but never independently, and you are now buying alone
• You only ever owned a mobile home or a property not permanently attached to a foundation
• You are a displaced homemaker who only owned as part of a joint household

Some state and local programmes extend this definition further. Certain city programmes treat anyone who has not owned property in that specific county as a first-time buyer — even if they owned elsewhere.

Immigration Status and Eligibility

Your immigration status directly affects which loan products are available to you.

Permanent residents and green card holders qualify for FHA, VA (if veteran), USDA, and conventional loans on the same terms as US citizens.

Non-permanent residents — including H-1B, L-1, TN, O-1, and E-2 visa holders — may qualify for FHA and conventional loans. Fannie Mae and Freddie Mac both have guidelines permitting non-permanent resident borrowing with valid visa documentation and US employment. Your visa must have remaining validity at the time of application.

DACA recipients may currently qualify for conventional loans under Fannie Mae and Freddie Mac guidelines, and some lenders offer FHA loans as well. Policy in this area has changed in previous years. Confirm current eligibility directly with a licensed lender before making plans.

ITIN-only borrowers — buyers without a Social Security Number — are not eligible for FHA, VA, USDA, or standard conventional loans. Specialist lenders offering ITIN loan products do exist. These typically require 10 to 20 percent down, carry higher rates, and are offered by a limited number of community banks and non-QM lenders.

Non-resident aliens and foreign nationals living outside the US and purchasing US property as an investment will typically need a foreign national loan with a down payment of 25 to 40 percent.

Always confirm your specific eligibility with a licensed mortgage lender familiar with your visa category before making financial commitments.

Decision Two — Which Loan Fits My Financial Profile?

FHA Loans — The Most Widely Used First-Time Buyer Option

FHA loans are insured by the Federal Housing Administration. They are designed specifically for buyers with limited savings or moderate credit profiles.

Who qualifies:

• US citizens, permanent residents, and non-permanent residents with valid work authorisation
• Credit score of 580 or above for 3.5 percent down payment
• Credit score of 500 to 579 with 10 percent down payment
• Debt-to-income ratio up to 50 percent with compensating factors

Key features:

• Down payment as low as 3.5 percent of the purchase price
• Entire down payment may come from gift funds — you do not have to save it yourself
• Loan limits of $498,257 in standard-cost counties and up to $1,149,825 in high-cost areas
• Mortgage Insurance Premium (MIP) applies for the life of the loan in most cases

What FHA mortgage insurance costs:

The upfront MIP is 1.75 percent of the loan amount. On a $260,000 loan, that is $4,550, which is typically added to the loan balance rather than paid at closing.

The annual MIP runs between 0.55 and 1.05 percent of the loan, depending on size and term. On a $260,000 loan at the mid-range, this adds approximately $175 per month to your payment.

Unlike private mortgage insurance on conventional loans, FHA mortgage insurance does not automatically cancel when you reach 20 percent equity. It stays for the life of the loan unless you refinance to a conventional product.

FHA loans are not available to: non-resident aliens, ITIN-only borrowers, or foreign nationals without US work authorisation.

VA Loans — Best Available Product for Eligible Veterans

VA loans are guaranteed by the Department of Veterans Affairs. For buyers who qualify, they offer terms no other mainstream mortgage product can match.

Who qualifies:

You may be eligible for a VA loan if you meet one of the following service criteria:

• 90 or more consecutive days of active service during a wartime period
• 181 or more consecutive days of active service during peacetime
• Six or more years of service in the National Guard or Reserves
• You are a surviving spouse of a service member who died in service or from a service-connected disability

To use your entitlement, you need a Certificate of Eligibility (COE). This can be obtained instantly through the eBenefits portal online, through a VA-approved lender during the application process, or by mailing a request to a VA regional loan centre.

Key features:

• Zero down payment on homes up to $766,550 in standard-cost counties
• No monthly mortgage insurance — ever
• Interest rates typically 0.25 to 0.75 percent lower than comparable conventional loans
• Flexible credit requirements; most lenders accept scores from 580
• Reusable entitlement — you can use a VA loan more than once in your lifetime

VA funding fee:

VA loans charge a one-time funding fee in place of mortgage insurance. For first-time use with zero down payment, the fee is 2.15 percent of the loan amount. On a $280,000 loan, that is $6,020. This can be financed into the loan rather than paid at closing.

Veterans receiving VA disability compensation, and surviving spouses of service members who died in service, are fully exempt from the funding fee.

USDA Loans — Zero Down for Eligible Rural and Suburban Areas

USDA loans are guaranteed by the US Department of Agriculture. They require no down payment and are available in a wider range of locations than most buyers expect.

Approximately 97 percent of US land area falls within USDA-eligible zones. This includes many suburban communities within 30 to 60 minutes of major cities. Towns near Atlanta, Dallas, Phoenix, Charlotte, and Sacramento frequently qualify.

Who qualifies:

• Buyers purchasing in a USDA-designated eligible area
• Household income at or below 115 percent of area median income
• Credit score of 640 or above for most lenders
• US citizens, permanent residents, and certain non-citizen nationals

Income limits vary by location and household size. A family of four in many areas may qualify with income up to approximately $103,500 annually. Check your specific address at the USDA eligibility tool before assuming a property does or does not qualify.

What USDA loans cost:

A one-time guarantee fee of 1 percent of the loan amount is charged at closing and can be financed. An annual fee of 0.35 percent is applied monthly. On a $235,000 loan, the annual fee adds approximately $69 per month. There is no private mortgage insurance.

Conventional Loans — HomeReady and Conventional 97

Fannie Mae and Freddie Mac offer conventional loan programmes with low down payment requirements for first-time buyers.

Conventional 97:

• 3 percent minimum down payment
• Credit score of 620 or above required
• No income limits in most areas
• Private mortgage insurance required but cancels automatically when you reach 20 percent equity
• Works well for buyers with good credit who want to avoid FHA mortgage insurance that cannot be removed

HomeReady (Fannie Mae):

• 3 percent minimum down payment
• Income limits at 80 percent of area median income
• Lower private mortgage insurance rates than standard conventional
• Accepts income from non-borrowing household members toward qualification
• Reduced fees for first-time buyers

HomeOne (Freddie Mac):

• 3 percent minimum down payment
• No income limits
• At least one borrower must be a first-time buyer
• Credit score of 620 or above

Conventional loans are a strong option for buyers with credit scores above 660 who want mortgage insurance they can eventually cancel, unlike FHA.

Decision Three — What Will It Actually Cost?

Down Payment by Loan Type

Closing Costs — What They Are and What They Include

Closing costs are the fees and prepaid expenses required to finalise your mortgage and complete the property purchase. They typically run between 2 and 5 percent of the purchase price.

Lender fees:

• Loan origination fee: 0.5 to 1 percent of loan amount
• Underwriting fee: $400 to $900
• Processing fee: $300 to $700
• Credit report fee: $30 to $75

Third-party fees:

• Home appraisal: $400 to $650
• Home inspection: $350 to $550 (not required by lenders but strongly recommended)
• Title search: $200 to $400
• Title insurance: $800 to $2,000
• Settlement or escrow fee: $400 to $800
• Recording fees: $125 to $350

Prepaid expenses:

• Homeowners insurance: first year’s premium, typically $1,200 to $3,000
• Property tax reserves: two to six months of taxes collected upfront
• Prepaid mortgage interest: interest from your closing date to the end of the month
• Upfront mortgage insurance premium if applicable

Total closing cost estimates:

How to Reduce What You Pay at Closing

Negotiate seller contributions. In most markets in 2026, buyers can request that sellers contribute toward closing costs as part of the purchase agreement. FHA loans allow seller contributions of up to 6 percent of the purchase price. Conventional loans allow 3 to 9 percent depending on the down payment amount. This is one of the most effective ways to reduce cash needed at closing.

Shop multiple lenders. Lender fees vary significantly. Comparing four to five lenders — including banks, credit unions, online lenders, and mortgage brokers — can reveal differences of $1,500 to $3,500 in fees for the same loan amount and rate. Always compare the Annual Percentage Rate (APR), not just the interest rate, as APR includes fees.

Use lender credits. Some lenders will cover some or all closing costs in exchange for a slightly higher interest rate. This works well for buyers with limited cash who plan to refinance within three to five years if rates improve.

Apply for down payment assistance programmes. Most states operate Down Payment Assistance (DPA) programmes offering grants or second mortgages specifically for first-time buyers. These often cover both the down payment and some or all closing costs. Funding is limited and is sometimes exhausted during peak buying months — apply early.

Time your closing date. Closing at the end of the month rather than the beginning reduces the prepaid interest charge, which covers interest from your closing date to the first of the following month. Closing on the 29th versus the 3rd on a $280,000 loan at 6.7 percent saves approximately $850.

Ongoing Monthly Costs Beyond the Mortgage Payment

Many first-time buyers budget only for the principal and interest portion of their mortgage. The full monthly housing cost is higher.

A $280,000 FHA loan at 6.7 percent has a principal and interest payment of approximately $1,810 per month. Add taxes, insurance, mortgage insurance, and a maintenance reserve, and the full monthly housing cost is closer to $2,400 to $2,700 depending on location. Budget for this total figure, not just the mortgage payment.

Decision Four — Is Your State and Market the Right Fit?

Where you buy matters enormously. Property prices, property tax rates, homeowners insurance costs, and the availability of state assistance programmes all vary dramatically by state.

Affordability by State — A Broad Framework

In the most affordable states, a buyer earning $55,000 annually may comfortably qualify for a home purchase with an FHA loan. In California or New York, the same income may not be sufficient for any financed purchase in most markets without additional income, a co-borrower, or substantial assistance.

Down Payment Assistance Programmes — What to Expect by State

Most states fund first-time buyer assistance through a state housing finance agency. The type and amount of assistance varies widely.

States with particularly strong DPA programmes (as of 2026):

• California — CalHFA offers deferred payment second mortgages and MyHome Assistance covering down payment and some closing costs
• Texas — TSAHC and TDHCA offer grants and second mortgages for qualifying buyers statewide
• Florida — Florida Housing Finance Corporation operates multiple assistance programmes with grants up to $10,000
• Georgia — Georgia Dream programme provides up to $10,000 in down payment assistance
• Ohio — Ohio Housing Finance Agency offers grants of up to 5 percent of the purchase price
• Pennsylvania — PHFA offers closing cost and down payment assistance with competitive rates
• Colorado — CHFA offers low-interest second mortgages and grants for qualifying first-time buyers

Most DPA programmes require completion of a HUD-approved homebuyer education course. This is a one-time requirement and the course is widely available online for a modest fee. Complete it before you apply for pre-approval — some programmes require the certificate as part of your application.

The Home Buying Process — Stage by Stage

Stage One — Financial Preparation (Six to Twelve Months Before)

Check your credit reports. Obtain free reports from all three bureaus — Experian, Equifax, and TransUnion — through AnnualCreditReport.com. Review for errors, incorrect balances, or accounts you do not recognise. Dispute errors immediately.

Build your credit score if needed. If your score is below 580, focus on paying down credit card balances below 30 percent of their limits, making all payments on time, and avoiding new credit applications. Six to twelve months of consistent behaviour can move a score significantly.

Calculate a realistic budget. A common lender guideline is that total monthly housing costs should not exceed 28 percent of gross monthly income. For a total monthly payment of $1,800, you would need approximately $6,430 in gross monthly income.

Start saving a dedicated housing fund. Open a separate savings account for your home purchase. Automate regular transfers. Track your progress toward both down payment and closing cost targets.

Research state and local assistance programmes. Identify which programmes are available in your target area and what their income, credit, and purchase price limits are. Some programmes have limited annual funding and run out before the end of the year.

Stage Two — Pre-Approval (Three to Six Months Before)

Gather your documents. Lenders need the following for pre-approval:

• Two months of recent pay stubs
• Two years of W-2 statements
• Two years of federal tax returns (self-employed buyers and those using ITIN loans will need these regardless)
• Two to three months of bank statements
• Photo identification and visa or immigration documents if applicable
• Gift letter if any down payment funds are a gift

Apply with multiple lenders. Get pre-approval from at least three to four lenders — not just pre-qualification, which is a less rigorous estimate. Full pre-approval involves a credit pull and documentation review. The result is a firm figure you can rely on. Multiple credit pulls for mortgage purposes within a 45-day window are typically treated as a single enquiry for scoring purposes.

Choose your agent. Select a buyer’s agent with experience working with first-time buyers and familiarity with the assistance programmes, FHA requirements, and lender restrictions that apply to your situation.

Stage Three — Property Search and Offer

Stay within your pre-approved range. Viewing properties significantly above your budget creates expectations the market may not support within your finances.

Make a complete offer. A competitive offer includes the purchase price, an earnest money deposit of 1 to 3 percent of the price, a closing date, requested seller contributions toward closing costs if applicable, and contingencies protecting you — at minimum an inspection contingency and a financing contingency.

Complete a professional home inspection. A qualified inspector will examine the property’s structure, roof, electrical system, plumbing, heating and cooling, and other systems. The cost is typically $350 to $550. Never waive an inspection to strengthen an offer. If the seller will not accept an inspection contingency, negotiate an inspection for information only — which allows you to walk away if you discover problems, even if you cannot request repairs.

Stage Four — Loan Processing and Underwriting

After your offer is accepted, your lender orders a property appraisal, verifying that the purchase price is supported by the property’s market value. Underwriters then review your complete financial file.

Respond to any underwriter requests for additional documents promptly. Delays in responding extend the timeline and can put your closing date at risk.

Once underwriting approves your file, you receive a clear-to-close. At this point, lock your interest rate if you have not already done so. Rate locks typically last 30 to 45 days.

Stage Five — Closing

Review your Closing Disclosure carefully. You must receive this document at least three business days before closing. Compare every line to the Loan Estimate you received at the start of the process. Any material changes must be explained by your lender.

Arrange homeowners insurance. Your lender requires an active policy from your closing date. Obtain quotes from multiple insurers and purchase before closing day.

Conduct a final walkthrough. Walk through the property 24 to 48 hours before closing to confirm its condition is unchanged and any agreed repairs have been completed.

Bring the right funds. Personal cheques are not accepted at closing. Bring a certified bank cheque or arrange a wire transfer for the exact amount shown on your Closing Disclosure.

On closing day, you sign the mortgage note, the deed of trust, and the closing disclosure. Once documents are signed and funds are confirmed, the keys are yours.

Understanding Mortgage Rates in 2026

Mortgage interest rates fluctuate daily and are influenced by Federal Reserve policy, bond market movements, economic data, and your individual credit profile.

Current rate ranges in 2026:

These are indicative ranges only. Actual rates depend on your credit score, loan size, down payment, lender, and market conditions at the time of your application.

How your credit score affects your rate:

A borrower with a 760 credit score will typically receive a significantly lower rate than a borrower at 620. On a $280,000 loan, the difference between a 6.4 percent rate and a 7.1 percent rate is approximately $130 per month — and over $46,000 over the life of a 30-year loan.

Improving your credit score before applying is one of the most financially impactful things a first-time buyer can do.

Interest rate versus APR:

The interest rate determines your monthly principal and interest payment. The Annual Percentage Rate (APR) includes the interest rate plus lender fees, expressed as an annual percentage. Use APR to compare lenders accurately. A lender offering 6.4 percent with $5,000 in fees may cost more overall than one offering 6.5 percent with $1,500 in fees.

Tax Benefits of First Home Ownership

Owning a home creates several tax advantages worth understanding before you buy.

Mortgage interest deduction. You may deduct interest paid on up to $750,000 of mortgage debt on your federal tax return if you itemise deductions. In the first year of a $270,000 mortgage at 6.6 percent, interest paid is approximately $17,700. At a 22 percent tax bracket, this reduces your federal tax bill by around $3,900.

Note that you must itemise deductions to claim this benefit. With the 2026 standard deduction at $14,600 for single filers and $29,200 for married couples filing jointly, itemising only makes sense if your total deductible expenses exceed those thresholds.

Property tax deduction. State and local property taxes are deductible up to $10,000 per year ($5,000 if married filing separately), as part of the SALT deduction.

Mortgage Credit Certificate (MCC). Many state housing finance agencies offer MCCs to first-time buyers. An MCC converts a percentage of your annual mortgage interest — typically 20 to 50 percent — into a dollar-for-dollar federal tax credit. Unlike deductions, credits directly reduce your tax bill. An MCC saving $4,000 in taxes per year is available in California, Texas, Florida, Arizona, Colorado, Illinois, Ohio, Pennsylvania, and more than 30 other states. Apply through your state housing finance agency.

Capital gains exclusion on eventual sale. When you sell your primary residence, you may exclude up to $250,000 in profit from capital gains tax — $500,000 if married filing jointly — provided you have lived in the property for at least two of the five years before the sale.

Tax rules are subject to change. Confirm current deduction limits and MCC availability with a qualified tax adviser before making purchase decisions based on expected tax benefits.

Common Mistakes to Avoid

Not checking credit early enough. Six to twelve months is the minimum time needed to meaningfully move a credit score. Buyers who discover they have a 550 score one month before they want to buy have very few options. Check your score as early as possible.

Ignoring total housing costs. The mortgage payment is not your full housing cost. Property taxes, insurance, mortgage insurance, HOA fees, and maintenance often add $600 to $1,200 per month above the principal and interest payment. Budget for all of it before deciding what you can afford.

Getting only one lender quote. Lenders vary significantly on rates and fees. Accepting the first offer without comparing is one of the most costly mistakes a buyer can make. Get at least four quotes and compare APRs.

Skipping the home inspection. An inspection costing $400 can identify structural problems, roofing issues, plumbing failures, or electrical hazards worth tens of thousands of dollars. Never buy without one.

Making large purchases or opening new credit before closing. Between pre-approval and closing, do not buy a car, open a new credit card, or make any major purchase. These actions can change your credit score and debt-to-income ratio and cause your lender to deny the loan at the last stage.

Using all savings for down payment and closing. After closing, you need an emergency fund. Boilers fail. Roofs leak. HVAC systems stop working. A first-time buyer with no cash reserves after closing is financially exposed from day one. Maintain three to six months of living expenses in savings.

Not applying for assistance programmes early enough. State DPA programmes have annual funding caps. Some are exhausted by mid-year. Apply as early as your eligibility allows.

Frequently Asked Questions

Can non-citizens buy a home in the US?

Yes. Permanent residents, green card holders, and many non-permanent residents on work visas including H-1B, L-1, TN, and O-1 may qualify for FHA or conventional loans. ITIN-only buyers without a Social Security Number have more limited options through specialist lenders. Non-resident aliens and foreign nationals can buy US property but typically require larger down payments and specialist financing. Always confirm current eligibility with a licensed lender who understands your visa category.

What credit score do I need to buy a home in 2026?

FHA loans accept scores from 580 with a 3.5 percent down payment. Scores between 500 and 579 require a 10 percent down payment under FHA guidelines. Most VA lenders prefer 580 or above. Conventional loans generally require 620 or above, with better rates above 740. USDA loans typically require 640 or above through most lenders.

How much cash do I need to have available to buy a first home?

It depends on your loan type and location. With a VA or USDA loan and seller-paid closing costs, some buyers close with very little cash out of pocket. With an FHA loan on a $270,000 home, you need approximately $9,450 for the down payment plus 2 to 5 percent for closing costs — though seller contributions and DPA programmes can cover much of that. Budget for at least three months of living expenses remaining in savings after closing, regardless of loan type.

What is the difference between pre-qualification and pre-approval?

Pre-qualification is an informal estimate based on information you self-report. It does not involve a credit pull or document review. Pre-approval is a formal process where the lender pulls your credit, verifies your income and assets, and issues a written commitment for a specific loan amount. Sellers and agents treat pre-approval as a serious commitment. Pre-qualification is not sufficient in competitive markets.

How long does the homebuying process take from start to finish?

From the date an offer is accepted, closing typically takes 30 to 60 days. The full timeline from initial preparation to closing — building credit, saving, getting pre-approved, searching, making an offer — is typically three to twelve months depending on your starting point. Buyers with good credit and savings already in place can move significantly faster.

Can I buy a home while still paying student loans?

Yes. Student loan payments affect your debt-to-income ratio, which lenders use to determine how much you can borrow. FHA loans permit a back-end debt-to-income ratio of up to 50 percent with compensating factors. If your total monthly debt payments — including student loans, a car payment, and the proposed mortgage — stay within the lender’s limit, you may qualify. Get pre-approved with your actual debt figures before assuming you cannot.

What income do I need to buy a home in 2026?

There is no fixed income minimum. Lenders look at your debt-to-income ratio rather than a specific dollar threshold. As a rough guide, total monthly housing costs should not exceed 28 to 31 percent of your gross monthly income. For a total housing payment of $1,900 per month, you would need approximately $6,100 to $6,800 in gross monthly income. Your actual qualification depends on your specific debts, loan type, and lender.

What is an FHA 203(k) loan and is it right for first-time buyers?

An FHA 203(k) loan allows you to finance both the purchase of a home and the cost of renovation in a single mortgage. The loan is based on the expected value of the property after improvements, not its current condition. This can allow buyers to purchase a property below market value, fund necessary repairs, and build equity immediately. It is more complex than a standard FHA loan and requires a HUD-approved consultant for larger renovation projects. It suits buyers who are comfortable with the renovation process and want to enter a higher-priced market through a lower-priced fixer-upper.

Are first-time buyer programmes available in every state?

Yes, but the quality and funding levels vary significantly. Every state has a housing finance agency that operates at least one first-time buyer programme. Some states — including California, Texas, Florida, Ohio, and Georgia — have particularly well-funded programmes with meaningful grant and down payment assistance amounts. Others have more limited programmes or income limits that exclude moderate-income buyers in high-cost areas. Research your specific state housing finance agency before assuming assistance is or is not available.

Disclaimer

This article is for general educational information only. It is not financial, tax, legal, mortgage, or immigration advice. Loan programme guidelines, eligibility requirements, interest rates, down payment assistance programme availability, loan limits, tax rules, and immigration policy can all change. Always confirm current details with a licensed mortgage lender, real estate attorney, tax adviser, immigration lawyer, or other regulated professional before making any home purchase decisions.

Conclusion

Buying a first home in the US in 2026 is achievable for a much wider range of buyers than most people assume — including immigrants, buyers with modest credit scores, and those with limited savings who qualify for assistance.

The four decisions that determine your outcome are: whether you meet eligibility requirements for your chosen loan programme, which product best fits your credit and income profile, what the full costs — including closing costs and monthly housing expenses — will be, and whether your target state and market make financial sense for your budget.

Start by checking your credit and identifying your immigration status eligibility. Then compare at least four lenders. Research down payment assistance in your state. Speak with a buyer’s agent who knows first-time buyer programmes. And get pre-approved with documentation — not just an estimate.

Compare your options, prepare your documents thoroughly, and consult the right professionals before committing.