WATCH: 5 Things First-Time Homebuyers Wish They Knew

Name: First Time Home Buyers: 5 Things You NEED To Know Before You Buy
Uploaded: 2026-09-10T00:30:30Z
Duration: 3 min 8 s

We sat down with the mortgage brokers at Next Door Lending to get the advice they give every first-time buyer — on PMI, down payment assistance, underwriting land mines, seller concessions and gift funds.

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Published Sep 24, 2026

👀 WATCH: 5 Things First-Time Homebuyers Wish They Knew

Buying your first home comes with a learning curve nobody warns you about — the difference between the "rules" you've heard and how mortgages actually work in practice. We sat down with loan officers from Next Door Lending to unpack five things first-time buyers often get wrong, from how scary PMI really is to who can actually help cover your closing costs. Watch the video below, or jump to any section that speaks to where you are in the process.

» Want more? Check out the NerdWallet YouTube channel for all our expert advice.

Bella Angelos contributed graphic design support to this project. Some of these graphics were created using HTML code written with the assistance of AI, and all have been reviewed by our editorial team for accuracy and quality.

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About the author

Abby Doyle

Abby Doyle has been writing about homeownership and mortgages for NerdWallet since 2022. Her work has been featured in outlets including The Associated Press, The Washington Post and The Seattle Times. From interactive tools to practical advice, Abby is passionate about making the homebuying journey less stressful — especially for first-time buyers.

As a reporter, she is interested in writing about innovative housing solutions (like co-living) and personal stories about how homeownership builds community and a sense of belonging.

Abby is also a musician, songwriter and producer who knows the challenge of balancing creative fulfillment with financial stability. In 2024, she produced a special episode of NerdWallet’s “Smart Money” podcast on how to navigate income swings in a creative career.

Abby is based in Pittsburgh, a city defined by working-class grit and neighborly spirit. When she’s not writing about personal finance, she’s at her urban homestead: playing fiddle, raising chickens and preserving the bounty from her garden.

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