The homebuyer files
Every topic in the homebuyer files
Twenty topic files, each opened by a plain-language overview and followed by deep guides with worked examples, checklists and small calculators that run on your device.
Home budget and affordability
Find a price that fits your monthly life, not just the lender's ceiling.
- The 28/36 rule: a quick budget test and where it falls short
- Buying a house on one income: how to qualify and stay safe
- Buying a house with student loans: how lenders count the payment
- Cash reserves after closing: how much to keep in the bank
- Debt-to-income ratio for a mortgage: how lenders count it
- How much house can I afford? A budget you can live with
- How much income you need to buy a house, worked backwards
- Rent vs buy: finding your break-even year
- The true monthly cost of owning a home, line by line
Credit for a mortgage
Which score counts, what lenders see, and what to fix before you apply.
- Buying a home after bankruptcy: waiting periods and next steps
- Check your credit reports before applying for a mortgage
- Collections on your credit report: what they mean for a mortgage
- What credit score do you need to buy a house?
- Credit utilization before a mortgage application
- Shopping lenders without hurting your credit: the 45-day window
- Getting a mortgage with no credit history
- Raise your credit score before a mortgage: a realistic plan
- Rapid rescore: updating your credit during a mortgage application
Down payment and savings
How much to put down, where the money can come from, and what to keep back.
- Do you need 20 percent down? What changes above and below the line
- Buying a house with a co-borrower or co-signer
- A down payment savings plan you can actually follow
- Down payment or emergency fund: how to split your savings
- Gift funds for a down payment: who can give and how to document it
- The down payment gift letter: what it must say and what goes with it
- How much down payment do you need for a house?
- Large deposits and sourcing funds: what lenders ask and why
- Where to keep your down payment savings while you shop
First-time buyer programs
Down payment help, state agency loans and free counseling, without the myths.
- Types of down payment assistance: grants, forgivable loans and seconds
- First-time home buyer programs: how to find the real ones
- Forgivable second mortgages: how down payment help is paid back or forgiven
- Down payment grants vs assistance loans: which to choose
- Homebuyer education courses: when you need one and how to pick it
- HUD housing counselors for first-time buyers
- Mortgage credit certificates: a yearly tax credit for some buyers
- State housing finance agencies: what they offer first-time buyers
- Who counts as a first-time home buyer? The three-year rule and exceptions
FHA loans
Low down payment, flexible credit thresholds, and insurance that lasts.
- FHA 203(k) loans: buying a home and financing the repairs together
- The FHA appraisal: value, property standards and required repairs
- FHA condo approval: project approval and single-unit approval
- FHA down payment sources: gifts, assistance and what the seller cannot pay
- FHA loan limits: how they work and how to find your county's
- FHA loan requirements for first-time buyers
- FHA mortgage insurance: upfront and annual premiums explained
- FHA vs conventional: how to compare the two for your file
- FHA loans with low credit: what scores 500 to 579 mean
VA home loans
Service-based eligibility, no required down payment, and a one-time funding fee.
- The VA appraisal: Notice of Value, Tidewater and what to do if it comes in low
- How to get a VA Certificate of Eligibility (COE)
- VA loan closing costs, seller credits and the 4 percent concession limit
- VA loan entitlement: basic, bonus and what is left after a first loan
- The VA funding fee: chart, examples and exemptions
- VA loan eligibility: service requirements by group
- VA loans for National Guard and Reserve members
- VA home loans for surviving spouses
- VA loan vs FHA loan: which costs less for an eligible buyer
USDA rural home loans
No-down-payment loans for moderate incomes in eligible rural areas.
- USDA closing costs: what you pay and how to cover them
- USDA construction loans: building a home with a guaranteed loan
- The USDA direct loan (Section 502 direct): payment help for lower incomes
- The USDA eligibility map: checking whether a home qualifies
- The USDA guarantee fee: upfront and annual costs on a USDA loan
- USDA income limits: whose income counts and which deductions apply
- USDA loan eligibility: the three tests, step by step
- USDA property requirements: what kind of home qualifies
- USDA vs FHA: comparing two low-down-payment loans
Conventional loans
Loans that follow Fannie Mae and Freddie Mac rules, with cancellable mortgage insurance.
- 3 percent down conventional loans: HomeReady, Home Possible and more
- The conforming loan limit: what it is and why it matters to buyers
- Conventional loan requirements: credit, debt, down payment and limits
- Using gift funds on a conventional loan
- HomeReady vs Home Possible: two 3% down conventional loans compared
- Jumbo loans: what happens when you borrow above the conforming limit
- Piggyback loans: an 80-10-10 instead of PMI
- Private mortgage insurance: what it costs, who it protects and how it ends
- Removing PMI: the three ways it ends and how to ask
Rates, terms and points
Fixed or adjustable, 15 or 30 years, points or no points, compared with real arithmetic.
- 15-year vs 30-year mortgage: payment, interest and flexibility
- APR vs interest rate: what each tells you about a mortgage
- ARM caps, index and margin: reading an adjustable-rate loan
- Comparing mortgage rate quotes the right way
- Fixed vs adjustable-rate mortgage: run the reset test first
- How amortization works: where each mortgage payment goes
- Mortgage discount points: when buying down the rate pays off
- Temporary rate buydowns: how a 2-1 buydown works
- What moves your mortgage rate, and which parts you control
Preapproval and lenders
Get a letter that sellers trust, and pick a lender by comparing real offers.
- Mortgage broker vs lender: who does what and how each is paid
- Documents for mortgage preapproval: the complete packet
- How to choose a mortgage lender: compare offers, not ads
- Intent to proceed: what happens after the Loan Estimate
- Preapproval denied: what to do next
- When does a preapproval letter expire, and how do you renew it?
- Prequalified vs preapproved: what the letters really mean
- How to read a Loan Estimate, page by page
- Self-employed mortgage documents: what lenders ask for
Working with an agent
Written agreements, negotiable pay, and how to pick the right person.
- Buyer agent agreements: what to read before you sign
- Buyer agent commission: how it is set and who pays
- Buying new construction with your own agent
- Do you need a buyer's agent? What one does and the alternatives
- Dual agency: when one agent or brokerage represents buyer and seller
- Ending a buyer agreement with your agent
- Questions to ask a buyer's agent before you sign anything
- Going to open houses without your own agent
- Do you need a real estate attorney to buy a home?
House hunting
What to notice on a tour, and how to compare very different homes fairly.
- Condo vs house: costs, rules and financing for first-time buyers
- Buying a fixer-upper: costs, loans and how to avoid surprises
- How to check a home's flood zone before you buy
- House hunting checklist: from budget to the offer
- Buying a manufactured home: land, labels and loans
- New construction vs existing home: how to compare them
- Older home red flags to check before you make an offer
- How to research a neighborhood before you buy
- What to look for when touring a house: a room-by-room method
Offers and contracts
Price, deposit, contingencies and deadlines, and how they protect you.
- The appraisal contingency: how it protects a buyer and how to set it
- Contingencies in a home purchase: inspection, appraisal, financing and more
- How to respond to a counteroffer on a house
- Earnest money: how much, who holds it, and how to protect it
- Escalation clause: how it works in a home offer
- The financing contingency: protecting your deposit if the loan falls through
- How to make an offer on a house: building the offer package
- The inspection contingency: how it protects you and how to use it
- Seller disclosures: what sellers must tell you and when
Home inspection
What inspectors check, which specialist tests to add, and how to negotiate repairs.
- Asking for repairs after a home inspection
- How to choose a home inspector
- Home inspection checklist: before, during and after
- Lead paint in older homes: the federal disclosure and your 10-day window
- Radon testing when buying a house: options, results and fixes
- Repair credit vs price cut after inspection
- Sewer scope inspections: checking the pipe a general inspection skips
- Specialist inspections: when a general inspection is not enough
- What home inspectors check, and what they usually leave out
Underwriting and appraisal
Verification, conditions, appraisal and title, and how to reach clear to close.
- The appraisal came in low: your options, step by step
- Appraisal waivers and value acceptance on a mortgage
- Clear to close: what it means and what happens next
- Conditional approval: what it means and how to clear conditions fast
- Mortgage underwriting: what the underwriter checks and how to help
- Reconsideration of value: how to challenge a low appraisal
- Title search: what it finds and why it matters
- Verification of employment before closing
- What not to do before closing on a house
Closing costs and closing day
The final numbers, the three-day review, safe wiring and the signing.
- Cash to close: what it includes and how to pay it safely
- Closing costs for buyers: what you pay, and which ones you can shop
- Closing day: what to bring and what to expect
- Closing delays: common causes and how to avoid them
- The Closing Disclosure and the three-day rule
- The final walkthrough: what to check before you sign
- No-closing-cost mortgages: how lender credits really work
- Prepaid items and the initial escrow deposit
- Seller concessions: how much the seller can pay toward your costs
Insurance for a new owner
Homeowners, flood and title coverage, explained before the lender asks.
- Condo insurance (HO-6): what your policy needs to cover
- Dwelling coverage: how much insurance to put on the house itself
- Flood insurance for home buyers: when it is required and how to get it in time
- Home warranty vs homeowners insurance: what each one covers
- Homeowners insurance basics for first-time buyers
- Homeowners insurance deductibles explained
- How to compare homeowners insurance quotes
- Insuring an older home: coverage gaps and how to close them
- Owner's title insurance: what it protects and whether to buy it
Taxes for homebuyers
Property tax, closing prorations, and the IRS rules behind common moves.
- Borrowing from a 401(k) for a down payment: limits and risks
- Homestead exemptions: lowering property tax on the home you live in
- Using an IRA for a first home: the first-time buyer exception
- The mortgage interest deduction: who benefits and how much
- Are mortgage points tax deductible? How the IRS treats points
- Property tax basics for first-time buyers
- Property tax proration at closing
- Property tax reassessment after you buy
- Tax records for homeowners: what to keep and for how long
Condos, townhomes and HOAs
Dues, reserves, rules and approvals, read before you sign.
- Co-op vs condo: what you actually own
- The condo questionnaire: what lenders ask your HOA and why it matters
- HOA documents to review before you buy
- HOA fees: what they cover, how they change and how lenders count them
- HOA reserve study: how to read one before you buy
- HOA rules to check before you buy
- Special assessments: what they are and how to spot one before you buy
- Townhouse vs condo: ownership, HOAs, insurance and loans compared
- Warrantable vs non-warrantable condos
Your first year as an owner
Escrow, maintenance, servicer letters and the habits that protect the home.
- The escrow account analysis: reading your yearly escrow statement
- Escrow shortage: why it happens and how to handle it
- Extra mortgage payments: how much they save
- First-year homeowner checklist: month by month
- How to budget for home maintenance and big replacements
- A homeowner emergency fund: how much and where to keep it
- When your mortgage servicer changes
- Seasonal home maintenance checklist for first-time owners
- When refinancing makes sense: costs, break-even and goals
Prefer reading in order? The original chapters walk through the purchase from first question to closing.