5 Things First-Time Buyers Are Getting Wrong This Spring

Shopping before getting pre-approved remains the most common misstep — it leads to falling for homes outside your real budget, then re-calibrating expectations under time pressure.

The second most common issue: treating the down payment as the whole cash requirement, and forgetting to budget separately for closing costs, which typically run 1.5%–4% of the purchase price.

We're also seeing buyers stress-test their own comfort level, not just the federal stress test — running their numbers at a rate a point or two above their contract rate to make sure a future renewal wouldn't be a shock.