Illustrated graphic features first-time homebuyers considering if they can buy a house. Illustrated graphic features first-time homebuyers considering if they can buy a house.

Can I buy a house?

With rent continually on the rise, you may be thinking about purchasing a home. But you don’t know if you can afford it or get approved, so you don’t bother.

We’re here to tell you that buying a home is more possible than you think. And we can show you how the first step is the most important in finding a place to call your own.

Family of three enters open house for a home when considering if they should rent or own.

Renting vs. owning

Have you delayed buying a home because of upfront costs and high interest rates? When it comes to buying a home, time is money. If you wait, you could lose out — not just on the chance to find the perfect home, but also on the money you could save in the long run. Most surprising fact, though? You don’t even have to save for a down payment.

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The advantages of owning vs. renting

Icon of the letter X with a circle around it. Renting Icon of a check mark with a circle around it.Owning After each payment, that money is gone Each payment builds wealth & equity Can’t make major changes to the property Freedom to renovate (think dream kitchen!) Rental prices can go up with lease renewal Monthly mortgage payments stay the same You’re paying a mortgage, just your landlord’s You’re paying down your own mortgage No tax advantages Tax advantages

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Understanding your credit report

Your credit score can impact your ability to buy a home and determine the terms of your mortgage — but your credit doesn’t have to be perfect! We have many ways to get first-time homebuyers into homes they love with a less-than-perfect credit report.

How to keep it strong and get approved

  • Pay your bills on time — 30+ days overdue bills can lower your score by 10 points
  • Try not to close accounts— Keep old credit accounts open and active
  • Minimize credit applications — Don’t apply for credit you don’t need
  • Keep your balances low— A 30% ratio of balances to available credit is ideal
See How we help
Illustrated graphic shows a pie chart that breaks down the percentages that go into your credit report.
A couple sits outside their home eating lunch on their porch.

How much home can you afford?

Understanding your expenses

Preparing to buy a house also means setting a budget. How much house can you afford? There’s a lot to consider, including money for private mortgage insurance (PMI) and property taxes. Staying on budget means staying ahead of the game.

See how we can help pinpoint your household budget here.

What makes up a monthly mortgage payment?

Your monthly mortgage payment is made up of four parts. With one payment, that means you only have one due date. And it also means you’re paying off your loan, protecting your home with insurance, and staying up to date on taxes while building your equity.

  • Principal — a portion of the amount borrowed or remaining unpaid
  • Interest — the amount charged by the lender for borrowing money
  • Taxes — the amount charged by the municipality based on the property value
  • Insurance — policy that protects you against financial loss in the event of property damage
Calculate your payment
Illustrated graphic is a pie chart that breaks down how debt-to-income ratio is calculated. Illustrated graphic is a pie chart that breaks down how debt-to-income ratio is calculated.

Your debt-to-income ratio

Reduce your DTI
Exterior of suburban home with blue siding.

How much do I need 
for a down payment?

You don’t have to put 20% down to own your first home. Of course, you can, and it has plenty of advantages. But many home loan programs allow you to buy a home with as little as 3% down — or even NO money down with down payment assistance!

See if I qualify

Your free personal
financial consultant

We make the process as clear as possible while offering pathways to homeownership you might not come across on your own. We offer loan programs that fit who you are and where you are in the process. Find out how we can guide you through the entire process from beginning to end.

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Begin the pre-approval process today