Everything first-time homebuyers need to know, from saving for a down payment to getting the keys.
Last updated: October 2026 · Editorial standards When shopping for a mortgage, you’ll encounter both mortgage brokers and direct lenders — and the distinction matters for how your loan is priced and processed. What Is a Direct Lender? A direct lender is any institution that lends its own money — banks, credit unions, mortgage banks,…
Last updated: October 2026 · Editorial standards Three main types of institutions offer mortgages, each with distinct advantages and weaknesses. Here’s an honest comparison to help you find the right fit. Online Mortgage Lenders Examples: Rocket Mortgage, Better Mortgage, LoanDepot, Guaranteed Rate, AmeriSave Online lenders operate without physical branches, which reduces overhead costs. Many pass…
Last updated: October 2026 · Editorial standards The difference between lenders can cost or save you thousands of dollars on your mortgage. Here are the seven factors that matter most when choosing where to borrow. Factor 1: Interest Rate (and APR) The interest rate determines your monthly payment. But the rate alone doesn’t tell the…
Last updated: October 2026 · Editorial standards “First-time homebuyer” sounds self-explanatory, but the legal definition is broader than most people assume. Under HUD’s definition — used by most programs — a first-time buyer is anyone who has not owned a primary residence in the past three years. This means divorced individuals, people who owned a…