How to Buy a House Step by Step | First-Time Home Buyer Guide

You finally bought your home and got the keys—but what should you do next? In this episode, Michael and Jessica walk through 7 important priorities every new homeowner should focus on during the first year of homeownership.

From building an emergency fund and understanding your mortgage payment to protecting your credit and staying ahead of home maintenance, this episode provides a practical roadmap for navigating those important first 12 months.

You'll learn why homeowners should prepare financially for unexpected repairs, what's actually included in a mortgage and escrow payment, and how taxes and insurance can cause your monthly housing costs to change. Michael and Jessica also explain simple habits that can help protect your credit after buying a home.

The episode also covers creating a realistic home maintenance schedule, understanding potential homeowner tax benefits, and budgeting for expenses buyers often overlook—including utilities, lawn care, pest control, HOA costs, furniture, and other ongoing expenses.

You'll also discover why you don't need to renovate or furnish everything immediately. Instead, Michael and Jessica discuss how prioritizing your spending, maintaining an emergency fund, and developing good homeowner habits can help create a more financially comfortable first year.

Whether you recently closed on your first home or you're preparing to become a homeowner, this episode will help you understand what to do after buying a house and how to prepare for your first year of homeownership.

🏠 Find more first-time home buyer guides and resources at HomeBuyingCompass.com

This podcast is for general educational and informational purposes only and should not be considered financial, mortgage, tax, legal, or real estate advice.

FHA Loan Debt-to-Income Ratio Requirements

Wed, 12 Aug 2026 23:13:59 GMT

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FHA Loan Debt-to-Income Ratio Requirements — Episode Description

Wondering whether you have too much debt to qualify for an FHA loan? In this episode, Michael and Jessica break down FHA debt-to-income ratio (DTI) requirements in simple terms and explain what first-time home buyers should understand before applying for a mortgage.

You'll learn what DTI means, how lenders calculate it, and the difference between front-end and back-end DTI ratios. The episode explains that FHA loans typically work around a 43% back-end DTI guideline, while some borrowers may qualify with higher ratios when their overall application includes strong compensating factors.

Michael and Jessica also discuss factors that may strengthen an FHA application, including good credit, cash reserves, a strong rental payment history, and other documented financial strengths. You'll also hear how FHA and conventional loans differ when it comes to debt, credit, and down-payment requirements.

Most importantly, the episode covers practical ways to lower your DTI and improve your chances of mortgage approval, including paying down credit cards, avoiding new debt, eliminating monthly loan payments when possible, and getting pre-approved early.

Whether you're worried about credit card debt, car payments, student loans, or simply aren't sure whether your income is enough to qualify, this episode will help you better understand the numbers lenders consider.

🏠 Learn more about buying your first home at HomeBuyingCompass.com

This podcast is for general educational and informational purposes only and does not constitute financial, mortgage, legal, tax, or real estate advice.

7 New Homeowner Expenses Buyers Forget to Budget For

Mon, 10 Aug 2026 20:49:56 GMT

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Buying a home can feel complicated, especially if you’re going through the process for the first time. Home Buying Compass is designed to make the journey easier to understand by breaking important home-buying topics into simple, practical conversations.

In each episode, we explore the information buyers should understand before making one of the biggest financial decisions of their lives. Topics may include preparing your finances, credit scores, mortgages, pre-approval, down payments, closing costs, home inspections, choosing the right property, making an offer, understanding monthly housing expenses, and preparing for homeownership.

Our goal is simple: help home buyers become better informed, ask better questions, avoid common mistakes, and approach the home-buying process with greater confidence.

Whether you're thinking about buying your first home, actively searching for a property, comparing mortgage options, or getting ready to close, you'll find straightforward information to help you better understand what comes next.

🎙️ Hosted by Michael Ben, Real Estate Coach

🏠 Learn more and explore additional home-buying guides, resources, and educational content at: HomeBuyingCompass.com

This podcast is for general educational and informational purposes only and should not be considered financial, legal, tax, mortgage, or real estate advice. Always consult qualified professionals regarding your individual situation.

12 First Time Home Buyer Facts Every Beginner Should Know

Fri, 07 Aug 2026 20:46:32 GMT

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Buying your first home can feel exciting, overwhelming, and a little intimidating—but it doesn't have to be. In this episode, Jessica and Michael break down 12 essential facts every first-time home buyer should know before making one of the biggest financial decisions of their life. Based on practical, beginner-friendly advice, they separate common myths from reality and explain what truly matters when preparing to buy your first home.

You'll learn why you probably don't need a 20% down payment, how your credit score affects your mortgage, the crucial difference between pre-qualification and pre-approval, and why closing costs surprise so many buyers. Jessica and Michael also explain the most common loan options, discuss down payment assistance programs, and share simple budgeting tips that can save you thousands over the life of your mortgage.

The conversation continues with practical advice on understanding your true monthly housing payment, why skipping a home inspection can become an expensive mistake, and why just because a lender approves you for a certain amount doesn't mean you should spend it. They also walk through the entire home-buying process—from checking your credit to receiving the keys—so you'll know exactly what to expect at every step.

Whether you're just starting to think about homeownership or you're actively searching for your first house, this episode will help you approach the process with greater confidence and fewer surprises. Jessica and Michael also discuss the most common mistakes first-time buyers make, including taking on new debt before closing, forgetting to budget for maintenance, and overlooking neighborhood considerations.

If you've ever wondered how much money you really need, what credit score lenders look for, how long the buying process takes, or whether first-time buyer assistance programs are available, this episode answers those questions in clear, easy-to-understand language. By the end, you'll have a solid foundation for making informed decisions and taking the next step toward owning your first home.