First keys.
Fewer unknowns.

01 / Give your budget some breathing room.

List the monthly costs you can comfortably carry, including the home payment, utilities, maintenance, and other obligations. Keep room for savings and the unexpected. The most a lender might approve is not necessarily the amount you should spend.

02 / Separate the money you need upfront.

Your down payment is one part of the purchase. Closing costs, prepaid expenses, moving, and initial repairs also need room in the budget. Compare programs before assuming you need 20% down, and ask whether any assistance options are available and appropriate for you.

03 / Get prepared, then shop.

A preapproval review can help you understand a possible loan amount and conditions before making an offer. Gather income and asset records, review your debts, and ask how your credit will be checked. Preapproval is conditional, and the property still needs review.

04 / Compare the loan behind the home.

When you receive Loan Estimates, compare the same loan amount, term, and rate-lock assumptions. Review closing costs and projected payments, including insurance and taxes. Keep asking questions through the final Closing Disclosure and closing appointment.

Find assistance through the right local source.

First-time homebuyer assistance is separate from choosing FHA, conventional, VA, or USDA financing. Programs can have income and purchase-price limits, education requirements, participating-lender rules, and a separate loan that may need repayment. Compare the complete mortgage and assistance terms together.

Buying in Illinois? Start with the Illinois Housing Development Authority (IHDA). In Indiana, review the Indiana Housing and Community Development Authority (IHCDA). In Missouri, the Missouri Housing Development Commission (MHDC) lists First Place and Next Step homebuyer programs. Official links appear below.

Program names, funding, and terms can change. Confirm current eligibility and lender participation with the agency and your loan officer before relying on assistance. These links are educational resources, not a claim that our team offers every agency program.