Buying your first home is exciting (and overwhelming). Between home searches, mortgage terms, down payments, inspections, and closing costs, there is a lot of information to sort through.

If you're wondering where to start, you're not alone. Many first-time homebuyers have the same questions, so we've gathered answers to a few of the most common ones to help you feel more confident as you take the next step toward homeownership.

How much house can I afford?

The amount you can afford depends on more than the home's purchase price. Lenders typically consider:

• Your income
• Existing debt
• Credit history
• Down payment amount

It's also important to focus on what fits comfortably within your monthly budget. Homeownership comes with additional costs.

Affordability looks different for everyone. Online mortgage calculators can provide a starting point, but speaking with a lending professional can help you understand your financial situation.

How long does it take to buy a house?

Every homebuying journey is different. For many buyers, the process can take anywhere from a couple of months to six months or more, depending on your financial readiness, local market conditions, and how quickly you find the right home.

A typical timeline might look like this:

• Financial prep: A few weeks to several months
• Pre-approval: A few days to a week
• House hunting: Several weeks to several months
• Under contract and closing: Typically 30 to 60 days after an offer is accepted

According to the National Association of Realtors, the closing process itself generally takes 30 to 60 days. During that time, your lender, appraiser, title company, and other professionals work together to finalize the details and prepare for closing day.

Do I need a 20% down payment?

While putting 20% down may help borrowers avoid private mortgage insurance, many loan programs allow qualified buyers to purchase a home with a much smaller down payment.

Some first-time homebuyer programs allow you to put down as little as 3%.

Understanding your options early can help you determine what may work best for your budget and homeownership goals.

How much money do I need upfront?

The down payment is only one of several costs to plan for when buying a home. You may also need funds for:

• Closing costs
• Earnest money deposit
• Moving expenses
• Initial home-related purchases or repairs

Closing costs typically range from 2% to 5% of the loan amount. To help offset these expenses, buyers may be able to negotiate seller credits, in which the seller contributes toward the buyer's closing costs at purchase.

Earnest money is an upfront deposit that shows a seller you're a serious buyer. It often ranges from 1% to 10% of the home's purchase price, although requirements vary by market.

Creating a savings plan before you begin house hunting can help you prepare for these expenses and hopefully avoid surprises along the way.

What credit score do I need to buy a home?

Different mortgage programs have different credit requirements. In general, higher credit