A Financial Primer for First-Time Homebuyers

You’ve learned plenty of consumer lessons haggling with automobile dealers to buy a car, reckoning with rental apartment leases and landlords, and dealing with college loan debt. But as instructive and enlightening (and at turns, frustrating) as these experiences can be, in all likelihood they will not fully prepare you for the highly involved and often stressful process of purchasing your first home.

For first-time homebuyers, the more you understand about the entire process, from the financial steps to take in preparing for the purchase, to shopping for and securing a mortgage, to the choices you make you officially become a homeowner, the more positive the experience is likely to be. Here the personal finance experts at the Financial Planning Association offer suggestions to help first-timers minimize their stress and maximize their investment.

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