It's very likely that you will never make a purchase as large as a home purchase.
This is a very good reason to prepare for the process as much as possible. The home you purchase will depend very much on the amount of mortgage for which you qualify.
As a first time mortgage user, preparing yourself for the home buying process is the best way to set yourself up for success.
Making the Down Payment
Many first time mortgage users worry about saving up for their down payment and rightfully so.
A down payment can mean the difference between getting approved or denied for a mortgage. This is true for first time mortgage users and homebuyers who have obtained a mortgage previously.
The good news is that, for many lenders, you don't have to make as high of a down payment as first time mortgage users have in the past.
First time mortgage users should keep these tips in mind when trying to reach a down payment goal.
