You don’t have to be debt-free to buy a home – most homebuyers have debts that they pay each month. But your DTI will play a major role in how much you’re able to borrow for a mortgage. Budgeting, building reserves, and practicing your mortgage payment can help you assess your homeownership readiness and reduce debt.
First Time Home Buyer Texas 2017 D-FW home prices top national median for first time in Realtors’ survey – Nationwide, median home prices were up 6.9 percent from a year ago to $232,100. The D-FW area for the first time surpassed the rest of the nation. "We are getting big-city prices," he said. Texas.First Buyer Home Credit The original first-time homebuyer tax credit provided buyers with a tax credit of up to $7,500. The tax break subsequently was expanded, with a new credit limit of $8,000 for first-time homebuyers.How Long Do First Time Home Buyers Stay In Their Home Requirements For Fha First Time home buyers mortgage requirements for First-time home buyers in 2018 – Mortgage Requirements for First-Time Home buyers. federal housing administration (fha) home loans allow eligible borrowers to make a down payment as low as 3.5% of the purchase price or appraised value. First-time buyers must have a credit score of 580 or higher to qualify for this down-payment option.