The First-Time Homebuyers Guide | iTHINK Financial

Buying Your First Home: Mortgage Options, Down Payments, and Credit Union Benefits

First-time home buyers do not need a 20% down payment or perfect credit to buy a home. The typical first-time buyer puts down just 10%, and loan programs exist that allow as little as 3.5% down (FHA), 0% down (VA), or even 100% financing for qualified buyers through credit unions like iTHINK Financial. The keys to buying your first home are understanding your real budget, knowing which loan type fits your credit and savings, and choosing a lender who keeps your loan in-house and explains your options clearly. This guide covers mortgage types, down payment and credit requirements, and the first-time buyer assistance programs available in Florida and Georgia.

As of June 2026, the average 30-year fixed mortgage rate is about 6.5%, and the 15-year fixed averages around 5.85%. iTHINK Financial's published first mortgage rates are 6.625% (6.706% APR) on a 30-year fixed and 6.000% (6.130% APR) on a 15-year fixed as of June 17, 2026. The national median existing-home price is approximately $435,000 as of late 2025. First-time buyers now make up 21% of the market with a median age of 40 and a median down payment of 10%, the highest first-time down payment since 1989. The national average FICO score is 714. iTHINK offers 100% financing for qualified first-time buyers, which removes the down payment barrier entirely.

Buying your first home is one of the biggest financial decisions you'll ever make, and in today's market, it comes with real challenges. In South Florida, median home prices have climbed past $420,000. Along the Treasure Coast, inventory remains tight as more buyers discover the appeal of coastal living without Miami price tags. And in metro Atlanta, bidding wars are still common in desirable suburbs like Alpharetta and Marietta.

For first-time buyers in these competitive markets, the questions pile up fast: How much house can I actually afford? Do I really need 20% down? Should I go with a 30-year fixed or an ARM? What if my credit isn't perfect?

Here's what most people don't realize: The median first-time buyer puts down just 10%, not 20%. Programs exist that can cover your entire down payment and choosing the right lender can save you thousands in closing costs before you even move in.

Whether you're house-hunting in Broward County, searching for waterfront property in Stuart or Fort Pierce, or eyeing a starter home near Georgia's growing job hubs, this guide breaks down exactly what you need to know. We'll cover mortgage types, credit requirements, down payment assistance programs specific to Florida and Georgia, and why your choice of lender matters more than you think.

What Should First-Time Home Buyers Know Before Getting Started?

The difference between buying a home you can afford and buying a home that stretches your budget too thin often comes down to preparation. Before you start scrolling through listings or attending open houses such as Delray Beach or Decatur, you need a clear view of your finances, your market, and what homeownership actually costs month to month.

Start with a Realistic Budget (Not Just What You're Pre-Approved For)

Your pre-approval amount is the maximum a lender will give you, not necessarily what you should borrow. Lenders evaluate your debt-to-income ratio (DTI), which is the percentage of your gross monthly income consumed by debt payments. Most conventional loans require a DTI around 43% to 45% , though some programs allow up to 50%. But just because you qualify at 50% DTI doesn't mean you should stretch that far.

A more sustainable approach follows the 28/36 rule for housing affordability :

• Your total housing payment should stay below 28% of your gross monthly income.
  
• Your total debt obligations should stay below 36% of gross income.
  

Real-world example: If your household earns $75,000 annually ($6,250/month gross), your total housing costs should cap around $1,750/month, and all debt payments combined should stay under $2,250/month.

You can use a mortgage calculator to model different scenarios, like what happens if rates increase by half a point, or how much a larger down payment reduces your monthly obligation.

Understand Your Local Market: What You're Really Buying Into

Housing markets in South Florida, the Treasure Coast, and Georgia are vastly different from each other. They're operating in entirely different economic realities. Here's what the data actually shows:

Housing in South Florida: High Demand, Limited Inventory, Premium Pricing

As of late 2025, the national median existing-home price was approximately $435,000, and South Florida's tri-county area (Miami-Dade, Broward, and Palm Beach) continues to trend above the national median.

What's driving prices? Continued migration from higher-tax states, remote work flexibility, and Florida's lack of state income tax keep demand elevated. Inventory remains below pre-pandemic levels, with Broward County's current inventory down by 42.4% compared to August 2019. This means buyers face competition and often waive inspection contingencies or offer above asking price.

Housing Affordability in Florida’s Treasure Coast: The "Affordable" Alternative (For Now)

Martin, St. Lucie, and Indian River counties - spanning Stuart, Fort Pierce, Port St. Lucie, and Vero Beach - have emerged as attractive options for buyers priced out of South Florida. Port St. Lucie, ranked as the fifth-fastest-growing city in the United States for cities with populations over 20,000 , has seen annual appreciation as young families and retirees discover its relative affordability.

The tradeoff? Longer commutes if you work in Palm Beach or Broward counties (60–90 minutes), fewer urban amenities, and elevated flood insurance costs in coastal zones. Still, for first-time buyers seeking space, newer construction, and lower property taxes than South Florida, the Treasure Coast remains compelling.

Homebuying in Metro Atlanta: Volume, Variety, and Competitive Suburbs

According to the National Association of Realtors (2024), the median home price in the South was approximately $354,200 , and metro Atlanta tracks closely to this figure ( around $400,000 for median sale price in August 2025 ), but the suburbs tell different stories.

High-demand Georgia suburbs like Alpharetta, Johns Creek, and Marietta, see median prices of $437,000-$760,000 , driven by top-rated schools and corporate headquarters (Mercedes-Benz, State Farm, Microsoft). First-time buyers often compete with cash offers and escalation clauses in these markets.

More accessible options exist in Lawrenceville, Douglasville, Kennesaw, and areas south of the city, where median prices fall between $372,000–$388,000 . These communities offer solid appreciation potential as Atlanta's growth continues to sprawl outward.

Georgia's advantage over Florida? Lower property insurance costs (no hurricane premiums), more moderate property taxes in many counties, and greater housing stock. Georgia buyers should note the state's flat income tax, which has been stepping down in recent years, compared with Florida's zero state income tax.

Learn Before You Buy: Education Beats Guesswork

The home-buying process has many distinct steps, from pre-approval to final walkthrough. Misunderstanding any one of them can delay your closing, cost you money, or cause you to miss out on your ideal home.

Our iTHINK Financial Homebuyer Webinars walk you through:

• How mortgage underwriting actually works (and what can derail approval)
• The real difference between FHA and conventional loans
• How to interpret loan estimates and spot junk fees
• What happens during inspection and appraisal
• Why timing matters when locking your rate

These webinars are taught by iTHINK Financial mortgage specialists who close loans in your specific markets. Attending costs you nothing, but skipping it may cost you thousands. Find an upcoming homebuyer webinar and sign up today.

What Mortgage Options Are Available for First-Time Buyers?

First-time home buyers have four main mortgage options: conventional loans (as little as 3% to 5% down, 620 minimum credit score, with cancellable private mortgage insurance once you reach 20% equity), FHA loans (3.5% down with credit scores as low as 580), VA loans (0% down and no mortgage insurance for eligible military borrowers), and adjustable-rate mortgages (lower introductory rates that adjust after 3 to 10 years). Qualified first-time buyers at iTHINK Financial can also access 100% financing, which allows a purchase with no down payment. The right choice depends on your credit score, how much you have saved, and how long you plan to stay in the home.

The right mortgage depends entirely on your financial profile and homeownership timeline. Buyers with credit scores below 680 or those who have saved less than 5% typically benefit most from FHA loans, despite higher insurance costs. Those with credit scores of 700 or higher and a stable income often save money in the long term with conventional loans, where private mortgage insurance is typically dropped once 20% equity is reached. Veterans should almost always opt for VA financing due to its unmatched benefits. Buyers planning to sell or refinance within 5–7 years may reduce initial costs with ARMs, although they accept the uncertainty of variable payments. The difference between a 30-year fixed mortgage and a 5/1 ARM might seem small at today's rates (iTHINK's published rates are 6.625% on a 30-year fixed and 6.375% on a 5/1 ARM as of June 17, 2026), but over the life of a $300,000 loan, it can mean tens of thousands of dollars in interest and a fundamentally different risk profile.

Here's what you need to know about each option and how iTHINK Financial structures these loans to give first-time buyers genuine advantages over traditional bank financing.

Fixed-Rate vs. Adjustable-Rate Mortgages (ARMs)

Most first-time buyers choose between fixed-rate and adjustable-rate mortgages (ARMs). A fixed-rate mortgage offers consistent payments over the life of the loan, ideal if you plan to stay in your home for many years and want predictable monthly costs. Adjustable-rate mortgages, on the other hand, start with a lower introductory rate that adjusts periodically after a set term (for example, 5/1, 7/1, or 10/1).

At iTHINK Financial, members can choose from a variety of mortgage loans to fit their financial goals . ARMs can be a good fit if you anticipate selling or refinancing within five to ten years, since they often come with lower starting rates. However, fixed-rate loans are generally safer if you plan to stay long term or prefer stability in your budget.

FHA Loans: Lower Down Payments, Easier Qualification

For buyers who haven’t built significant savings or have less-than-perfect credit, an FHA loan can open the door to homeownership. Backed by the Federal Housing Administration, these loans require a down payment as low as 3.5%, and often accept credit scores starting around 580.

FHA loans are especially popular among first-time home buyers, making up 28% of first-time buyer financing in the most recent NAR data. They also allow for higher debt-to-income ratios, making them a flexible option for buyers still growing their credit or balancing student loans.

While FHA loans require mortgage insurance premiums, these costs are often offset by easier qualification standards and competitive interest rates.

Conventional Loans: Greater Flexibility and Long-Term Value

Conventional mortgages—those not backed by a government agency—remain the most common loan type in the U.S. These loans typically require a minimum credit score of 620 and a down payment of 5% or more. However, private mortgage insurance can be canceled once you reach 20% equity.

For borrowers with strong credit and stable income, conventional loans often result in lower long-term costs than FHA loans, especially if you plan to stay in the home beyond five to seven years. iTHINK Financial offers conventional programs with both fixed and adjustable terms, allowing first-time buyers to choose between shorter payoff periods or extended terms with smaller monthly payments.

Why Choose a Credit Union Over a Bank for Your Mortgage?

A credit union is often a better choice than a bank for a first mortgage because credit unions are member-owned and not-for-profit, which typically means lower fees, lower closing costs, and more flexible underwriting. iTHINK Financial offers first-time buyers specific advantages that a typical bank does not: a 60-day rate lock at no cost (most lenders offer 30 days or charge for 60), mortgage servicing that is never sold, so your loan stays with iTHINK for its full term, rates published with zero discount points, and up to 100% financing for qualified first-time buyers. As a not-for-profit serving Florida and Georgia, iTHINK passes savings back to members through lower origination and processing fees.

Here’s how iTHINK Financial stands apart from many banks and online lenders:

• 60-day rate lock at no cost: Most competitors offer only 30 days or charge a fee for longer locks.
• Servicing never sold: You’ll always make payments directly to iTHINK Financial.
• Lower closing costs: As a not-for-profit credit union, iTHINK Financial passes savings back to members through reduced origination and processing fees.
• 100% financing available: Qualified first-time buyers can purchase with no down payment.

These advantages reflect iTHINK Financial’s mission of Service Excellence, ensuring each member experiences the difference that personalized, community-driven lending makes.

Choosing the Right Loan for You

There’s no single “best” mortgage for first-time buyers, only the one that fits your unique financial situation and long-term plans. If you’re early in your career or expect income growth, an FHA or ARM might make sense. If you have a strong credit profile and want predictable payments, a fixed-rate conventional loan is often the most stable choice. And if you qualify for a VA loan, taking advantage of zero down and no PMI can make a significant difference in affordability.

The key is working with a lender who takes the time to understand your goals, not just your application. That’s exactly what iTHINK Financial’s mortgage team delivers, combining expert guidance with competitive, transparent loan options that put members first.

How Much Should You Save for a Down Payment and Closing Costs?

Most first-time buyers put down far less than 20%. The median first-time buyer down payment is 10%, and several loan types require much less: FHA loans require 3.5% down, conventional loans accept 3% to 5% down, VA loans require no down payment for eligible veterans, and iTHINK Financial offers up to 100% financing for qualified first-time buyers. On a $300,000 home, a 10% down payment is $30,000, an FHA 3.5% down payment is $10,500, and a VA or iTHINK 100% financing option can be $0. Beyond the down payment, plan for closing costs of roughly 2% to 5% of the loan amount, which iTHINK keeps lower than most banks because it is a not-for-profit credit union.

The strategic question isn't just how much you need to save, but how much you should put down, even if you have more available. While a larger down payment reduces your loan balance, lowers monthly payments by approximately $30 per $10,000 in additional down payment, and may eliminate private mortgage insurance at 20% down, depleting your savings leaves you vulnerable to emergency repairs, insurance increases, and unexpected expenses that statistically affect most new homeowners within their first year. Financial advisors typically recommend keeping 3–6 months of living expenses in reserves after closing, particularly for buyers in Florida's coastal markets, where hurricane-related repairs and insurance premium fluctuations are common realities. For example, putting 5% down ($17,500) on a $350,000 home creates a $332,500 mortgage with roughly $150/month in PMI, while putting 10% down ($35,000) reduces the loan to $315,000 and lowers your total monthly payment by $125–$150—but costs you an extra $17,500 in cash that could cover a new AC unit, roof leak, or six months of mortgage payments if income disruption occurs.

The optimal strategy balances minimizing monthly costs with maintaining a financial cushion, which is why working with iTHINK Financial's mortgage specialists to model different down payment scenarios using real-time rates and loan calculators helps you make informed decisions based on your specific financial situation, rather than generic rules of thumb.

How Much Is a Typical Down Payment?

According to the National Association of REALTORS, the median down payment for first-time buyers is 10%, the highest since 1989. That means you could buy a $300,000 home with $30,000 down, and often less, through FHA, VA, or 100% financing programs.

Here’s how common mortgage types compare:

What Down Payment Assistance Is Available in Florida and Georgia?

First-time buyers in Florida may qualify for the Florida Hometown Heroes Housing Program, which provides up to $35,000 in down payment and closing cost assistance as a 0% interest, non-amortizing second mortgage that is repaid only when you sell, refinance, or pay off your first mortgage. Eligible buyers must be first-time buyers (no ownership in a primary residence in the past three years), have a minimum 640 credit score, work full-time in an eligible Florida occupation, and meet county income limits that range from roughly $142,950 to $195,450. Georgia first-time buyers may qualify for the Georgia Dream Homeownership Program, which offers down payment assistance paired with a fixed-rate first mortgage. Because program funding is limited and rules change, the best first step is to talk with an iTHINK Financial mortgage advisor about which programs you qualify for.

How Much Are Closing Costs?

In addition to your down payment, you’ll also need to plan for closing costs, which cover services required to finalize your mortgage. These typically include:

• Appraisal and inspection fees
• Loan origination and underwriting fees
• Title search and title insurance
• Recording fees and taxes
• Prepaid insurance and property taxes

Closing costs generally total 2–5% of your loan amount.  On a $300,000 home, that translates to roughly $6,000–$15,000.

How Down Payment Size Impacts Your Mortgage

Your down payment directly affects your monthly payment, loan term, and private mortgage insurance (PMI) costs. A higher down payment lowers your loan balance and may help you qualify for a lower interest rate. However, it’s not always best to drain your savings for a larger upfront payment. Keeping extra funds available for emergency repairs , maintenance, or insurance adjustments after closing is often the smarter move, especially for buyers in Florida’s coastal regions, where home insurance premiums can fluctuate year to year.

For example:

• A 5% down payment on a $350,000 home results in a $332,500 mortgage.
• Increasing the down payment to 10% ($35,000) reduces the loan amount to $315,000 and can lower monthly payments by roughly $125–$150, depending on the interest rate.

If you’re not sure what’s best for your situation, an iTHINK Financial mortgage specialist can help you compare scenarios using real-time rates and loan calculators, giving you a clearer picture of how different down payment amounts, affect your long-term affordability.

How Do You Get Pre-Approved for a Mortgage?

Before you start house hunting, one of the smartest moves you can make is getting pre-approved for a mortgage. This step not only helps you understand what you can afford, but also shows sellers that you’re a serious, qualified buyer, an advantage that can make all the difference in today’s competitive markets across South Florida, the Treasure Coast, and Georgia.

What Is a Mortgage Pre-Approval?

Pre-approval is an evaluation by a lender that verifies your income, credit history, assets, and debts to determine how much you can borrow. It’s a formal review that results in a conditional loan offer.

Getting pre-approved gives you three major benefits:

• It helps you set a realistic price range before shopping.
• It allows you to compare rates and terms between lenders.
• It strengthens your purchase offers, since sellers prefer buyers with verified financing.

In fast-moving housing markets like Palm Beach County or metro Atlanta, that edge can be crucial.

The Mortgage Pre-Approval Process

Getting pre-approved typically involves a few straightforward steps. iTHINK Financial makes the process simple, with options to apply online, over the phone, or with a local mortgage specialist.

Step 1: Gather Your Financial Documents
Most lenders require:

• Recent pay stubs and W-2 forms (or 1099s for self-employed borrowers)
• Two years of tax returns
• Bank and investment account statements
• Government-issued ID
• Proof of any additional income (bonuses, alimony, rental income, etc.)

Having these ready helps speed up the process and ensures accuracy in your pre-approval estimate.

Step 2: Review Your Credit Report and Score
Your credit score is a key factor in determining your mortgage rate and loan amount. iTHINK Financial can help you review your credit report, identify any discrepancies, and offer tips to improve your score before applying.

According to FICO, the national average FICO score is 714 as of early 2026. While many mortgages go to borrowers with strong credit, lower-scoring buyers, especially first-time buyers using FHA or similar programs, often qualify with scores closer to 670.

Step 3: Submit Your Application
Once your documents are ready, you’ll complete a pre-approval application. This typically includes a hard credit inquiry and a detailed financial review.

Step 4: Receive Your Pre-Approval Letter
If approved, you’ll receive a pre-approval letter that outlines your estimated loan amount, interest rate, and conditions. This letter is valid for about 60–90 days and can be renewed if your home search takes longer. Having it in hand shows sellers that your financing is solid, a big confidence boost in competitive bidding situations.

Why Pre-Approval Matters in Competitive Markets

In areas like Palm Beach County or Atlanta’s suburbs, homes often attract multiple offers within days of listing. A pre-approval letter helps your offer stand out and gives sellers peace of mind that your financing won’t fall through.

It also prevents disappointment later, helping you avoid falling in love with a home that’s outside your approved price range. You’ll have a clear picture of your monthly payment, interest rate, and loan term before making any commitments.

What Credit Score Do You Need to Buy a Home?

Your credit score plays a major role in determining whether you qualify for a mortgage and at what rate. It signals to lenders how reliably you manage debt, which helps them assess risk and set loan terms.

Each loan type has different credit score guidelines:

If your score is below 620, focus on credit score improvement before applying. Even a 10-point increase can potentially lower your rate, and strategic credit work over 3–6 months can dramatically expand your options. If you're buying with a lower score, consider strategies like shopping multiple lenders (requirements and flexibility vary significantly), exploring FHA loans if you have steady employment and 10%+ down (though mortgage insurance adds cost), planning to refinance once your score improves to capture better rates, or adding a creditworthy co-signer who assumes responsibility, if you default.

Credit unions like iTHINK Financial often provide more flexibility than big banks because local underwriters can consider context—strong savings, stable employment, documented explanations for past credit issues—rather than relying solely on automated algorithms. iTHINK Financial’s Financial Wellness Center also offers personalized financial wellness guidance to help members strengthen credit and achieve mortgage readiness within months rather than years.

Key Takeaways

• Plan ahead: Learn what to expect before buying your first home, from budgeting and pre-approval to closing day.
• Compare loan types: Understand how FHA and conventional mortgages differ, and which fits your goals best.
• Know your numbers: Get clarity on down payments, closing costs, and credit score requirements.
• Explore assistance: Discover state and local programs in Florida and Georgia that can help with upfront costs.
• Choose wisely: See why credit unions like iTHINK Financial offer lower fees, personalized support, and flexible mortgage options that simplify the path to homeownership.

Final Takeaway

The gap between renting and owning isn't as wide as most first-time buyers assume. It's often just a matter of knowing which programs you qualify for and choosing a lender who's invested in your success rather than their loan volume. You don't need perfect credit (580 gets you in the door with FHA), you don't need 20% down (the median first-time buyer puts down just 10%, and some programs require zero), and you don't need to navigate this process alone. What you do need is clarity on your budget, understanding of how different mortgage types affect your long-term costs, awareness of down payment assistance programs available in Florida and Georgia, and a financial partner who explains your options honestly rather than pushing you toward whichever product generates the highest commission.

That's where iTHINK Financial fundamentally differs from banks and online lenders. As a member-owned, not-for-profit credit union serving South Florida, the Treasure Coast, and Georgia since 1969, iTHINK Financial keeps your mortgage in-house for its entire term (no surprise transfers to unfamiliar servicers), provides 60-day rate locks at no extra cost (double the industry standard 30 days), reduces closing costs by $1,500–$3,000 through eliminated junk fees, and offers 100% financing for qualified first-time buyers, eliminating the down payment barrier entirely.

More importantly, our  local mortgage specialists understand the markets you're buying in: they know what flood insurance actually costs in coastal Florida, how property taxes differ between Georgia counties, which neighborhoods offer the best value in Palm Beach versus metro Atlanta, and how to structure your loan to keep monthly payments manageable while you build equity. We’re helping members make one of life's biggest financial decisions with confidence, transparency, and support that extends well beyond closing day.

FAQs

1. What’s the minimum credit score to buy a home?

Most conventional mortgages require a minimum credit score of 620, while FHA loans may accept scores as low as 580 with a 3.5% down payment, and VA loans typically look for 620 or higher. The national average FICO score is currently 714, but you do not need an average or above-average score to qualify. iTHINK Financial works with a range of borrowers and can help members strengthen their credit before applying through its Financial Wellness Center.

2. How much should I save for a down payment and closing costs?

Plan to save roughly 3% to 5% of the home price for a down payment and another 2% to 5% for closing costs, though qualified buyers can put down as little as 3.5% (FHA), 0% (VA), or nothing at all through iTHINK Financial's 100% financing for first-time buyers. The median first-time buyer puts down 10%, not 20%. iTHINK's lower not-for-profit fees and 100% financing reduce the cash you need at closing.

3. What are the best mortgage options for first-time buyers?

The best mortgage depends on your finances. FHA loans work well for lower credit scores and smaller savings (3.5% down, 580 score), VA loans offer no down payment for eligible veterans, and conventional loans often provide long-term savings for buyers with strong credit. iTHINK Financial offers all three, plus up to 100% financing for qualified first-time buyers and member benefits that a typical bank does not provide.

4. Can I buy a home with no down payment?

Yes. Eligible veterans and service members can buy with $0 down through a VA loan, and qualified first-time buyers at iTHINK Financial can access up to 100% financing, which removes the down payment entirely. In addition, programs like Florida Hometown Heroes provide up to $35,000 toward a down payment and closing costs for eligible buyers. A mortgage advisor can tell you which no-down-payment options you qualify for.

5. Why choose a credit union over a bank for my mortgage?

Credit unions like iTHINK Financial are not-for-profit and member-owned, which generally means lower rates, fewer fees, and more personal service than a bank. iTHINK also offers a 60-day rate lock at no cost, never sells your loan to another servicer, and provides up to 100% financing for qualified first-time buyers. For many first-time buyers in Florida and Georgia, that combination saves thousands of dollars over the life of the loan.

6. Are there credit unions known for first-time homebuyer programs?

Yes. Credit unions are widely recognized for first-time buyer programs because they offer lower fees, reduced closing costs, and flexible options like low or no-down payment financing. iTHINK Financial, which serves Florida and Georgia, offers up to 100% financing for qualified first-time buyers, a 60-day rate lock at no cost, servicing that is never sold, and free homebuyer webinars to guide you through the process.

7. What is the Florida Hometown Heroes program?

The Florida Hometown Heroes Housing Program provides up to $35,000 in down payment and closing cost assistance to eligible first-time buyers as a 0% interest second mortgage with no monthly payments, repaid only when you sell, refinance, or pay off your first mortgage. To qualify, you generally need a 640 minimum credit score, full-time employment in an eligible Florida occupation, and a household income within your county's limit. Funding is limited and released by the state, so getting pre-approved early matters.

8. How do I get pre-approved for a mortgage?

To get pre-approved, you submit income, credit, asset, and debt information to a lender, who verifies it and issues a conditional loan offer that tells you how much you can borrow. You will typically need recent pay stubs, W-2s or 1099s, two years of tax returns, bank statements, and a government-issued ID. iTHINK Financial lets you start pre-approval online, by phone, or with a local mortgage specialist, and a pre-approval letter is generally valid for 60 to 90 days. Pre-approval strengthens your offer in competitive Florida and Georgia markets.

9. How can I start the home buying process?

Start by getting pre-approved, which clarifies your budget and strengthens your offers. You can get pre-approved online or with a local iTHINK Financial mortgage specialist, and iTHINK also offers free Homebuyer Webinars that cover budgeting through closing day. Reviewing your credit, saving for a down payment and closing costs, and learning which loan type and assistance programs you qualify for are the best first steps.