The Truth About First-Time Homebuying: Down Payments, Credit Scores & Mortgage Myths

In this episode of the Real Mortgage Guru, host Harrison Schwartz breaks down the real numbers and key insights first-time homebuyers need to know before starting their journey. From the real down payment requirements to credit score expectations and common home-buying myths, this episode provides data-driven clarity to help listeners confidently navigate the mortgage process. Harrison also shares a real-world success story about Jenna, a first-time buyer who thought homeownership was out of reach until she discovered the right loan program. He answers common mortgage questions, including whether waiting for prices to drop is a smart move and whether student loans really prevent homeownership. If you’re thinking about buying your first home—or want to make informed financial decisions—this episode is packed with practical strategies and expert insights to help you get started. Major Themes & Concepts ✅ The Truth About Down Payments: Why you don’t need 20% down to buy a home. ✅ Credit Score Insights: What score you really need for mortgage approval. ✅ Biggest Hurdles for First-Time Buyers: How to overcome the most common financial challenges. ✅ Real-World Success Story: How one buyer turned ‘someday’ into ‘soon’ with the right mortgage strategy. ✅ Market Trends & Affordability: Is now a good time to buy, or should you wait? ✅ Mortgage Myths Debunked: Separating fact from fiction about homeownership. ✅ Actionable Steps for Homebuyers: What to do right now to prepare for your first home purchase. Resources Mentioned 📖 The Homebuyer’s Guide (Consumer Financial Protection Bureau) – A step-by-step resource for first-time buyers. 📖 HUD First-Time Homebuyer Programs – Learn about loan programs with low down payments. 📖 FHA, VA, and USDA Loan Insights – Explore options for buying a home with less money down. 🎧 Mortgage Pre-Approval Checklist (CFPB) – Everything you need before applying for a loan. 📊 Market Trends Report (National Association of Realtors) – The latest stats on home prices, mortgage rates, and affordability. Connect with Harrison Schwartz LinkedIn: The Real Mortgage Guru LinkedIn: Harrison Schwartz Production, Distribution, and Marketing By Massif Studio & Production & The Tallawah Group 🌎 Website: www.massifsp.com 💼 LinkedIn: Massif Studio & Production 🌎 Website: www.TallawahWorldwide.com 💼 LinkedIn: The Tallawah Group 📩 For sponsorship inquiries, email: [e-mail]. Learn more about your ad choices. Visit megaphone.fm/adchoices