When Mortgage Rates Soar, First‑Time Buyers Must Pivot

Mortgage rates are at a one-year high, yet first-time buyers can still secure a purchase. Zero-down options exist through programs such as FHA, VA, and USDA, each with specific eligibility and credit requirements. Credit hacks include consolidating high-interest debt, correcting errors on credit reports, and building a small savings buffer to improve debt-to-income ratios. Timing tricks involve locking in a rate early in the application cycle, monitoring rate trends, and coordinating with lenders who offer rate-lock extensions. By combining these strategies, a first-time buyer can navigate the current market and close a loan.

Read the full article on our blog