First-time homebuyers should determine their budget using affordability calculators and start saving early for down payments, closing costs, and moving expenses. Maintaining good credit is crucial for favorable mortgage rates. Research assistance programs and understand different loan types like conventional, FHA, VA, and USDA loans. Shop multiple lenders and get preapprovals. Choose a reliable agent, stick to your budget, get a home inspection, negotiate repairs or costs, and secure adequate homeowners insurance before closing.
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