Home Loan Basics Buyers Should Know | 🏡 Think you need 20% down to buy a home? Think again! You may qualify with less money down than you think.

A mortgage helps finance a home or other Real Estate purchase, usually covering the purchase price minus your down payment, plus interest over time.
Before borrowing, plan for closing costs, property taxes, insurance, maintenance, monthly payments, and how each affects your long-term financial comfort over time.
Loan term matters: a common 30-yr mortgage can lower monthly payments, while 10-yr, 15-yr, or 20-yr options may reduce total interest paid.
Match loan type to goals: fixed-rate offers steady payments, while adjustable-rate may start lower before adjusting with market conditions as terms allow.
Shopping lenders matters: one extra quote saved buyers an avg. $1.5K, while five more quotes saved ~$3K over loan life in housing research.