The homebuying journey · Step 1 of 6
Get financially ready
Before listings and open houses, get clear on the payment you can comfortably carry, the cash you need beyond the down payment, and how lenders will evaluate the application.
What you’re figuring out
The decisions in this stage
- What monthly payment works in real life
- How much cash to keep after closing
- Which loan structure and lender fit the plan
Start here
Three useful first reads
WTF Does 'House Poor' Mean, and How Do You Avoid Becoming It?
"House poor" means you technically own a home and functionally own nothing else. You made the payment. You also haven't been to dinner, the dentist, or a vacation in a year, and your emer…
WTF Else Do I Need to Save Beyond the Down Payment?
Short answer: budget for closing costs (roughly 2–5% of the purchase price), a few thousand dollars for moving and immediate repairs, and a separate emergency fund of 3–6 months of expens…
Should You Shop Around With Multiple Mortgage Lenders? Here's the Actual Math
Yes. And the amount of money on the table for not doing it is not trivial — we're talking thousands of dollars, sometimes over a hundred dollars a month, for maybe an extra hour of paperw…
The full stage
All 25 guides
Mortgage Rates Feel Too High. Is It Still Worth Buying?
Maybe — and that's not a dodge. Mortgage rates are one input, not the verdict.
WTF Is a Rate Lock, and When Should You Actually Use One?
Quick correction before we go further: pre-approval does not lock your rate. That's a common enough mix-up that it's worth stating plainly, because the number your loan officer quotes you…
Small Down Payment, Big Myth: What the Math Says About 3% to 5% Down
No. Putting 3–5% down instead of 20% is not automatically a mistake — it's a tradeoff, and depending on your situation, it can be the smarter move. You'll pay private mortgage insurance (…
WTF Is DTI, and How Much House Does It Actually Buy You?
Your debt-to-income ratio (DTI) is the single number that does more to cap your home price than your credit score, your down payment, or how much you want to spend. It's the percentage of…
Are Mortgage Points Worth It? The Break-Even Math, Explained
Short answer: paying points is worth it if you'll keep the loan past the break-even point — usually somewhere in the 4-to-6-year range on today's rates — and it's a bad deal if you might…
Buying a House If You Might Move in 3-5 Years: Does the Math Actually Work?
Short answer: it depends on your local market's appreciation, and 3-5 years sits right on the edge where "no" often flips to "maybe." That's not a cop-out — it's the honest shape of this…
Fixed-Rate or ARM? Here's How to Actually Decide
Short answer: if you're not sure how long you'll stay in the house, get a fixed-rate mortgage. If you're confident you'll sell or refinance before the fixed period ends — and you understa…
WTF Happened to Real Estate Agent Commissions? How They Actually Work Now
Real estate agent commissions used to be one of those things nobody explained because nobody had to — the fee was baked into the listing before you ever met your agent. That's no longer t…
Your Mortgage Payment Isn't Just the Mortgage
The principal-and-interest number in a mortgage calculator is not your full monthly housing payment. Property taxes and homeowners insurance can add anywhere from a couple hundred dollars…
The Credit Score Tiers That Actually Move Your Mortgage Rate
Short answer: 740 or higher gets you the best pricing on a conventional loan, and the gap between "meh" and "great" credit can run three-quarters of a percentage point or more on your rat…
WTF Do I Need in Cash Reserve for Move-In Week Repairs?
Set aside roughly $800 to $2,500 in cash you can spend the week you get the keys, on top of your down payment, closing costs, and moving budget. This is a different bucket than the "1% of…
WTF Is PMI, and How Do You Get Rid of It?
Private mortgage insurance is the fee you pay so your lender feels okay about the fact that you didn't put 20% down. That's it. That's the whole emotional core of PMI: it exists to protec…
Raiding Your 401(k) for a Down Payment: Loan, Withdrawal, or Neither?
Yes, with caveats big enough to change your answer. You can generally borrow against your 401(k) or take a hardship withdrawal from it to help fund a down payment — but "loan" and "withdr…
WTF Are Closing Costs, Exactly? The Full Line-Item Breakdown
Budget 2% to 5% of your loan amount for closing costs, and don't let anyone tell you a tighter number than that until you've got a real Loan Estimate in hand. On a $400,000 loan, that's $…
WTF Else Do I Need to Save Beyond the Down Payment?
Short answer: budget for closing costs (roughly 2–5% of the purchase price), a few thousand dollars for moving and immediate repairs, and a separate emergency fund of 3–6 months of expens…
WTF Does 'House Poor' Mean, and How Do You Avoid Becoming It?
"House poor" means you technically own a home and functionally own nothing else. You made the payment. You also haven't been to dinner, the dentist, or a vacation in a year, and your emer…
Down Payment vs. Emergency Fund: Which One Actually Wins?
Short answer: no, don't drain it. Longer, more useful answer: putting more down is genuinely valuable — lower payment, less interest, maybe no PMI — but "more down payment" and "zero doll…
Pre-Qualified vs. Pre-Approved: Why the Difference Actually Matters
Short version: pre-qualification is a lender's best guess based on what you tell them. Pre-approval is a lender's actual commitment based on what they've verified. One takes fifteen minut…
Should You Shop Around With Multiple Mortgage Lenders? Here's the Actual Math
Yes. And the amount of money on the table for not doing it is not trivial — we're talking thousands of dollars, sometimes over a hundred dollars a month, for maybe an extra hour of paperw…
Mortgage Broker vs. Direct Lender: Which One Actually Gets You a Better Deal?
Neither wins by default. A mortgage broker is better if your file is complicated enough that access to multiple wholesale lenders is worth more than convenience. A direct lender or bank i…
The Buyer Broker Agreement: Read This Before You Sign
Yes, probably — you likely don't have a choice if you want a real estate agent to show you homes. But "sign it" and "sign whatever's put in front of you without reading it" are two very d…
Going Without a Buyer's Agent: Who Can Actually Pull It Off
Short answer: you don't legally need one, but going without one usually means the only real estate professional in the room is working for the other side. And as of 2026, using a buyer's…
Buying a House? How to Find a Real Estate Agent Who Actually Works for You
A good buyer's agent is legally required to put your interests first — but "legally required" and "actually happens" are two different things, and the gap between them is where a lot of f…
The Real Estate Agent Interview: Every Question You Should Actually Ask
Hiring a real estate agent is one of the few big financial decisions where most people do zero due diligence. You'll spend hours comparing mortgage lenders and read every review before bu…
Firing Your Real Estate Agent: How (and When) to Actually Do It
Short answer: yes, you can switch, it's more common than the industry likes to let on, and — unless you're already under contract on a specific house — it's usually just a matter of check…