Buying a Home
First-Time Homebuyer Guide
Published 2026-07-31 · Last reviewed 2026-07-31 · Reviewed by Jim Lyddon, NMLS #2573609
A first purchase is easier when it is sequenced correctly: understand your monthly comfort level, get preapproved, then shop. Starting with the payment rather than the price keeps the search realistic, particularly in Phoenix-area communities where HOA dues and property taxes vary widely.
What to know
- Start with the monthly payment you are comfortable with, not the maximum approval.
- Understand how down payment affects both cash needed and monthly cost.
- Learn how mortgage insurance works before deciding on the down payment.
- Budget for closing costs and initial escrow deposits.
- Ask about every program you may qualify for, not just the common one.
How Jim approaches this
Bring your specific numbers. General education gets you oriented, but the decision only becomes clear when it is run against your income, your cash position, the property you are considering and how long you plan to keep the loan. That conversation is free and does not require an application.
The information on this website is provided for general education only and does not constitute financial, tax or legal advice. Loan programs, guidelines and availability are subject to change and to borrower and property qualification.
JHL Mortgage, Inc. is an Equal Housing Opportunity lender. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.