{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/69c148bb1a160b44db9c8fcc/6a66b3c9d1989631426cc6e1?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"9 things to know about buying your first home","description":"<p><strong>1038.</strong> Are you thinking about buying your first home but feeling overwhelmed by interest rates, upfront costs, and hiring a real estate agent? Host Laura Adams walks you through 9 tips every first-time homebuyer must know to protect their finances and land the right deal.</p><p><strong>Key Takeaways:</strong></p><ul><li>How subtle changes in your credit score can save (or cost) you tens of thousands in today's rate environment.</li><li>Most mortgage underwriters look for a maximum debt-to-income ratio of 45% to 50%, which includes your existing debts plus the new estimated housing payment.</li><li>Hidden homeownership expenses—from surging insurance premiums to HOA fees.</li><li>You should budget 2% to 5% extra for closing costs beyond your down payment to cover loan origination, appraisals, taxes, insurance reserves, and title fees.</li><li>Why you need an additional 5% of a home’s purchase price saved on top of your down payment.</li><li>A prequalification provides a loose baseline for house hunting, but you need a verified preapproval before making official offers on properties.</li><li>Contract contingencies, such as financing, appraisal, and home inspections, safeguard your earnest money deposit if unmanageable structural defects arise.</li></ul><p><br></p><p><strong>Discover more from Money Girl!</strong></p><p><a href=\"https://www.facebook.com/MoneyGirlQDT\" rel=\"noopener noreferrer\" target=\"_blank\">Facebook</a></p><p><a href=\"https://www.quickanddirtytips.com/money-girl-newsletter/\" rel=\"noopener noreferrer\" target=\"_blank\">Newsletter</a></p><p>Transcripts available at <a href=\"https://www.quickanddirtytips.com/transcripts/money-girl/\" rel=\"noopener noreferrer\" target=\"_blank\">QuickandDirtyTips.com</a>.</p><p>Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.</p>","author_name":"QuickAndDirtyTips.com"}