Whether you’re a first-time home buyer or a repeat customer, purchasing a home requires a reality check on your finances - unless you’re one of the select few with plenty of cash to make your move.

Even with a slowing housing market in 2025, home prices remain stubbornly high, and mortgage rates remain above 6 percent. The combination of those trends continues to create affordability issues for many buyers.

But lenders say there are financing options, including low down-payment loans, mortgage rate buydowns and adjustable rate mortgages (ARMs) that can ease the strain on borrowers. And there are steps buyers can take to position themselves for the lowest mortgage rate.

“I tell people to consult a lender six months to one year before they’re ready to buy a home,” said Deb Levy Griffin, a

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