How Does A Mortgage Work For First-Time Buyers
Buying a home is one of the most significant financial commitments a person can make. For first-time buyers, the process can seem overwhelming. In 2024, first-time buyers made up just 24% of all homebuyers, the lowest in recent history, highlighting the increasing challenges in the market. Since most people don’t have enough cash to buy a house outright, they rely on a mortgage—a type of loan that helps them afford a home. A mortgage allows buyers to make monthly payments [...]