Get to know the basics of mortgages, which are loans specifically used to buy a home. Learn how mortgages work, the difference between fixed-rate loans (where the interest rate stays the same over time) and adjustable-rate loans (where the interest rate can change). Understand how interest rates impact both your monthly payments and the total cost of the loan over time.

Learn how to financially prepare for buying a home. This includes budgeting, improving your credit score (a number lenders use to assess your likelihood of repaying a loan), saving for a down payment (an initial, upfront payment toward your home’s price), and gathering key documents. You’ll also gain insight into the upfront costs of purchasing a home and the ongoing expenses of homeownership.

Explore different types of mortgage loans as well as government-backed loans (loans insured by the government to make them easier to qualify for) and other special programs designed for certain buyers. This will help you find the option that best fits your needs and financial situation.

Understand the steps to apply for a mortgage, starting with gathering documents, comparing lenders, and getting pre-approved (an initial review by a lender to estimate how much you could borrow). Learn about your rights as a borrower and how to identify and address any potential unfair treatment based on factors like race, gender, or other characteristics.

Discover the different costs associated with buying and owning a home. Upfront expenses include the down payment and closing costs (fees paid to finalize the mortgage). Ongoing costs may include property taxes (paid to local governments for services in your area), insurance, and maintenance costs for the upkeep of the home.

Learn practical strategies for managing your mortgage payments, including creating a budget and building a financial safety net. If you face financial difficulties, explore options like loan modification (changing the loan terms to make payments more manageable), forbearance (temporarily pausing or reducing payments), and repayment plans (paying back missed payments over time). Find out how to access resources for additional support and guidance in keeping your home secure.