2026 First-Time Buyers Need Savings Strategy

First-time buyers need more than a deposit: closing costs, moving expenses, insurance, taxes, lender fees, and repairs all belong in the plan.
2026 may offer decent opportunities for stable, prepared buyers, with 30-yr fixed mortgages in the low-6% range and easing forecast ahead this yr.
A buyer's market can expand choices and strengthen negotiation, especially when inventory exceeds demand and fewer buyers compete for similar nearby homes.
Saving ~20% remains a common target; conventional loans require 620 credit scores, while government-backed options may allow 580, or lower with larger deposits.
Pre-approval helps buyers set a realistic range before house hunting, and emergency savings help manage urgent repairs while building habits for future purchases.