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2. First-time homebuyer guide - AOL

   www.aol.com/finance/first-time-homebuyer-guide...

   Most first-time homebuyers get a 30-year, fixed-rate mortgage. Step 3: Get quotes from at least three mortgage lenders Comparing mortgage loan offers is one of the essential steps to buying a house.

3. 16 first-time homebuyer mistakes to avoid - AOL

   www.aol.com/finance/16-first-time-homebuyer...

   Common mistakes for first-time homebuyers 1. Looking for a home before applying for a mortgage. When you’re buying your first house, it’s common to start viewing homes before ever getting in ...

4. Guide to first-time homebuyer loans and programs - AOL

   www.aol.com/finance/guide-first-time-homebuyer...

   That said, many first-time buyers go with a 30-year, fixed-rate mortgage because the monthly payments are lower and more predictable. Two popular 30-year fixed-rate choices: conventional loans and ...

5. Mortgage calculator - Wikipedia

   en.wikipedia.org/wiki/Mortgage_calculator

   Mortgage calculators are frequently on for-profit websites, though the Consumer Financial Protection Bureau has launched its own public mortgage calculator. [ 3 ] : 1267, 1281–83 The major variables in a mortgage calculation include loan principal, balance, periodic compound interest rate, number of payments per year, total number of payments ...

6. First-time homebuyer qualifications - AOL

   www.aol.com/finance/first-time-homebuyer...

   With some first-time buyer programs, there are also income limits. These typically vary based on location and are often capped at 80 percent of the area’s median income (AMI).

7. Housing affordability index - Wikipedia

   en.wikipedia.org/wiki/Housing_Affordability_Index

   A value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home. An index above 100 signifies that family earning the median income has more than enough income to qualify for a mortgage loan on a median-priced home, assuming a 20% down payment and a qualifying ratio of 25%.