Buying a home is one of the most exciting—and significant—financial decisions you'll ever make. Whether you’re just starting to save for a down payment or working through other financial challenges, partnering with a REALTOR® can make the journey smoother and more successful. At NCJAR, we’re here to empower you with the information and resources you need to navigate the process with confidence.
🎥 [Watch this video] and 📖 [read this article] to see how REALTORS® help buyers just like you!
Am I Financially Ready to Buy a Home?
Before diving into the housing market, it’s important to assess your financial picture. Start by reviewing:
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Your income and monthly expenses
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Outstanding debt and credit score
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Savings for a down payment and closing costs
Improving your credit can make a big difference in qualifying for better loan terms. Focus on:
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Making payments on time
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Lowering your credit card balances
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Avoiding new debt
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Reviewing your credit report for any errors
Good news: You don’t necessarily need a huge down payment. Many first-time buyers qualify for government-backed loans—like FHA loans—that require as little as 3–5% down. There are also state and local programs that may help cover closing costs or offer forgivable loans.
Can I Still Buy a Home If I Have Student Loans?
Absolutely. What lenders really look at is your debt-to-income ratio—how much of your monthly income goes toward paying off debt. Managing this ratio responsibly shows lenders that you’re financially capable of handling a mortgage.
Know Your Rights: Fair Housing Protections
Your right to buy a home should never be compromised by personal characteristics. The Fair Housing Act protects you from discrimination based on:
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Race or color
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Sex (including sexual orientation and gender identity)
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Religion
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National origin
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Disability
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Familial status
REALTORS®, sellers, appraisers, and lenders are all required to treat you fairly under the law.
What Does Housing Discrimination Look Like?
Discrimination can be subtle, but it's still illegal. Be on the lookout for:
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Being told a home is "not available" when it actually is.
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Only being shown homes in certain neighborhoods.
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Comments about who "typically lives" in a community.
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Biased language in ads.
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Unequal terms during negotiations.
If you suspect discrimination, report it to your local fair housing agency or HUD. You deserve equal treatment at every step.
Get Help from a Housing Counselor
Not sure where to begin? A housing counselor is a trained, impartial professional who can help you understand:
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Budgeting and credit improvement
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Home financing options
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Steps to take throughout the buying process
They provide trustworthy, non-biased advice and often work with little to no cost to you.
Resources for Buyers with Disabilities
If you have a disability, there are dedicated resources to help make homeownership more accessible, including:
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Grants and loans for home modifications
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Down payment assistance programs
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Legal rights under the Americans with Disabilities Act
You can also request reasonable accommodations during the homebuying process. A housing counselor or local advocacy group can connect you with the right programs.
Staying Financially Strong After Your Purchase
Homeownership comes with ongoing responsibilities—property taxes, insurance, and regular maintenance. Stay financially prepared by:
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Creating a monthly homeowner budget
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Building an emergency fund
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Keeping up with repairs to protect your investment
Some communities also offer post-purchase counseling to help you succeed long-term.
REALTORS® Are Advocating for You
With a historic shortage of available homes, REALTORS® are taking action. The National Association of REALTORS® (NAR) is pushing for:
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Tax reforms that support homeownership
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Increased housing supply and accessibility
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Strong ethical standards in every transaction
When you work with a REALTOR®, you’re partnering with a professional who’s committed to your success and your rights.
Ready to Learn More?
Every state has its own laws and programs, so be sure to consult your REALTOR® or a local attorney for specifics. For more tools and tips on buying a home, visit facts.realtor.
Let NCJAR and our community of REALTORS® help make your dream of homeownership a reality!
