1st time Buyers and Financing

by Jeff Aughey

Buying your first home in 2025 is an exciting milestone, but navigating the current financial landscape requires careful planning. Here are three critical factors to consider:
  • Credit Scores Matter Most: In 2025's market, your credit score heavily dictates your interest rate. Aim for 740+ for conventional loans or 580+ for FHA options to secure the best terms.
  • Watch Your DTI Ratio: Lenders are closely reviewing your debt-to-income (DTI) ratio. Most prefer it stay below 43%. To boost your buying power, pay down credit cards or car loans before applying.
  • The Power of Pre-Approval: Unlike a basic pre-qualification, a formal pre-approval clarifies your exact budget and signals to sellers that you are a serious contender in a competitive market.
Preparation is key to a smooth journey!

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1st time Buyers and Financing
1st time Buyers and Financing

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