Are there plans for me if im a first time buyer?

Homeownership is the American Dream. Owning your own home is at the heart of the American Dream. Homeownership is something that many people aspire to, and others already do.
Homeownership is a very personal thing. Some people like big houses, other people like small houses. Some people like hardwood floors, other people like tile. Some like to live in suburbia, others prefer downtown living. Some people like to garden, others like to throw parties.
Some people get their first taste of homeownership by renting an apartment or house. Others get their first taste of homeownership by buying their first home.
Buying a home is an important decision. It is not a decision that anyone should make thoughtlessly. And owning your own home is not something everyone can do.
But for many people buying their first home is one of the best decisions they will make in their lives.
Buying a home can be scary. It is, after all, a big investment. But it can also be exciting. Buying a home can be the beginning of a lifetime of personal growth and accomplishment. Buying a home is something that you can truly call your own.
If you dream of homeownership, the first step is to learn as much as you can about homeownership. Buying a house is hard work. But it’s fun too.
What do you need to know before buying a house?
First, decide what you can afford. You probably will not be able to buy a house in the same week you start looking for one, so make the decisions ahead of time.
How much can you afford? You’ll need a downpayment of at least 20 percent of the price of a home. If you have bad credit, you might have to put down as much as 40 percent. (You can get help with a down payment.)
What about monthly payments? This is a tough question. The rule of thumb is that you can afford a monthly payment of not more than 28 percent of your gross income. But everybody’s income is different. If you think you can’t afford to pay for a house that is 28 percent of your gross income, that probably means you are spending too much money.
Figure out how much you can afford by calculating your gross monthly income, subtracting your estimated expenses, and subtracting 20 percent for your downpayment. This is your net monthly income.
Now figure out how much money you can afford for a house. Suppose you find a house for $200,000. You can make your payments on that house, assuming you don’t get laid off or get a huge raise, if you limit your monthly payment to $1,786.08.
After you’ve picked a house you can afford, it’s time to start looking.
Look for houses.
Look everywhere. You never know where a house might be, so look in every neighborhood in your town.
Go to open houses.
Talk to real estate agents.
Look at houses on the internet.
Negotiate.
There are a lot of houses out there, so be patient. There is probably a house out there you can afford, and if you have patience and wait long enough