Your First Home

Stacie Rihl
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Welcome to Your First Home Podcast - I'm your host and homebuying expert Stacie Rihl and I've spent the last 8 years helping first-time homebuyers like you make their dreams of owning a home reality. Buckle up, because we're about to demystify the process and learn everything we should have been taught in school about the biggest and most exciting purchase you'll ever make. Your first home.

  1. 1d ago

    37. How Much Do You Really Need For a Down Payment As a First-Time Home Buyer? 3-5% Down vs. 20% Down

    You've probably heard that you need 20% down to buy a house. And if you've done the math on what that actually looks like in 2026, it might feel impossible. The truth is, the 20% rule comes from a time when home prices were a fraction of what they are today — and most first-time homebuyers are putting down far less. In this episode, I break down the real pros and cons of a larger versus smaller down payment, explain how mortgage insurance actually works (and what it costs), and walk you through how to decide what the right amount is for your situation. Ready to take the first step of finding your first home? Connect with a FAME agent in your area (it's free!) What you'll learn today: Why the 20% down payment rule is outdated, and the 1980 vs. 2026 math that proves it The three real benefits of putting 20% down (lower payment, negotiating power, and home equity) and who they matter most for Why a small down payment can be a financial risk if you need to sell your home quickly How mortgage insurance (PMI) works, what it actually costs, and when you can cancel it Why putting 10% down instead of 3% can cut your PMI from $350/month to $132/month How to use a mortgage calculator to figure out what monthly payment you're actually comfortable with When it makes sense to buy with a smaller down payment instead of waiting years to save more Resources mentioned: Connect with a FAME agent in your area (free) Free homebuying masterclass Fannie Mae mortgage calculator Episode 33: How to Set a Realistic Budget for Your First Home (Without Going House Poor) Connect with me: Follow me on Instagram Visit my website   CHAPTERS: 00:00 — How much do you really need for a down payment as a first-time buyer? 01:01 — The great debate: save 20% or buy with 3–5% down? 01:48 — Why the 20% rule is outdated (1980 vs. 2026 math) 04:12 — Benefit #1: Lower monthly payment with no mortgage insurance 04:43 — Benefit #2: Negotiating power in competitive markets 06:44 — Benefit #3: Home equity and why low equity is a financial risk 08:29 — The biggest drawback of waiting to save 20% down 09:35 — Opportunity cost: could your money be working harder elsewhere? 10:16 — Why draining your savings for a bigger down payment can backfire 11:15 — What if you don't have 20% saved? Start here 13:48 — What mortgage insurance (PMI) actually is and how it works 15:10 — How much PMI costs (it's probably less than your streaming subscriptions) 17:42 — When and how you can cancel mortgage insurance 18:31 — How to decide what down payment amount is right for you 19:40 — Your next step: connecting with a first-time homebuyer agent

    21 min

  2. Jun 3

    36. When to Start Looking for a House: The Step-by-Step Timeline for First-Time Homebuyers

    How far in advance should you actually start the home buying process? If you're someone who likes to have a plan before making a big decision, this episode maps out the full timeline: what to do more than a year out, when to connect with an agent, when to talk to a lender, and exactly when to start seriously touring homes. I also explain why jumping straight to scheduling tours on Zillow can actually set you back, and how the way mortgage payments are structured gives you more flexibility than you might think. Ready to take the first step of finding your first home? Connect with a FAME agent in your area (it's free!) What you'll learn today: How long it actually takes from finding a home to getting your keys (and why it's shorter than most people think) Why three to four months before your lease is up is the sweet spot to start seriously house hunting How your first mortgage payment skips a month and why that gives you more flexibility than you'd expect Why connecting with a trusted agent six to twelve months out sets you up to make confident decisions fast The reason scheduling tours on Zillow too early can leave you panicking when it's time to make an offer Why knowing the home buying process before you start looking is the single biggest thing you can do to feel ready When to talk to a lender and why online mortgage calculators aren't enough once you're seriously looking What to focus on if you're more than a year out from buying: credit, savings, and browsing without pressure Resources mentioned: Connect with a FAME agent in your area (free) Free homebuying masterclass Episode 33: How to Set a Budget Before Buying a House Episode 34: How Much of Your Income Should You Spend on a House? Connect with me: Follow me on Instagram Visit my website   CHAPTERS: 00:00 — How early is too early to start buying a house? 01:05 — From accepted offer to keys: the one-to-two month closing timeline 01:51 — Why you should start seriously house hunting three to four months before your lease is up 02:25 — How competitive vs. buyer's markets affect your timeline 03:21 — Why your first mortgage payment skips a month (and what that means for your budget) 05:04 — How your closing timeframe is negotiable with sellers 06:23 — Why starting early beats rushing — even if it means dragging out your timeline 06:43 — What "seriously looking" actually means and why offers are a big deal  08:12 — The three things you need before you start touring homes 08:46 — Step 1: Learn the home buying process before you start looking 10:12 — Why scheduling tours on Zillow without preparation can backfire 11:28 — Step 2: Connect with a trusted agent six to twelve months out 13:51 — Step 3: Know your numbers by talking to a local lender 15:09 — What to do if you're more than a year out from buying

    17 min

  3. May 27

    35. How to Save Money Buying a House in 2026: 3 Strategies First-Time Buyers Need to Know

    Buying a home is expensive, but it doesn't have to be as expensive as you think. In this episode, I'm breaking down three proven strategies to save money while buying a house, from being flexible on what you're looking at, to timing your search in the off season, to negotiating your mortgage rate and fees. I've used all three of these strategies myself across three home purchases, including an investment property where every dollar counted. If you're a first-time homebuyer trying to stretch your budget further, these are the moves that actually make a difference. Ready to take the first step of finding your first home? Connect with a FAME agent in your area (it's free!) What you'll learn today: Why your must-have list should be short and how flexibility on everything else can save you thousands What to look for in a home that's well-maintained but cosmetically outdated, and why that's actually the best deal How staging and good photos trick buyers into overpaying and what to look for instead Why days on market matters and how homes listed for 14+ days give you more negotiating power How exploring less popular neighborhoods can get you a better home at a lower price Why shopping for a home in winter instead of spring can save you $20,000–$30,000 How to negotiate your mortgage interest rate by getting competing lender quotes within 14 days Why even a quarter-point difference in your interest rate can save you $50,000+ over the life of your loan Resources mentioned: Connect with a FAME agent in your area (free) Free homebuying masterclass Episode 26: When is the BEST and WORST time to buy a house? Connect with me: Follow me on Instagram Visit my website   CHAPTERS: 00:00 — Three strategies to save money buying a house 01:17 — Strategy 1: Get crystal clear on your must-haves and be flexible on everything else 02:48 — Why a cosmetically outdated home is actually the best deal 04:18 — If it meets your must-haves, go look at it even if the photos are bad 06:15 — How staging tricks buyers into paying more 09:00 — Why "cute" houses cost more and what to look for instead 09:13 — Days on market: why 14+ days means negotiating power 10:09 — Being flexible on location and exploring less popular neighborhoods  12:38 — Strategy 2: Shop for a home in the off season 13:18 — Start looking in winter even if your lease isn't up until spring 14:46 — Strategy 3: Negotiate your interest rate and fees with lenders 15:58 — The 14-day credit shopping window and why you should get three quotes 16:38 — Recap: three ways to save money when buying a house

    18 min

  4. May 20

    34. How Much of Your Income Should You Spend on a House? Budgeting Formulas for First-Time Buyers

    Setting a budget is one of the most confusing parts of buying your first home, especially when the advice you're hearing was written for a completely different housing market. In this episode, I break down the three most common budgeting formulas for how much of your income should go toward your mortgage (what lenders will pre-approve you for, the 28% rule, and the 25% rule) so you can figure out what actually makes sense for your income, your lifestyle, and where you live. I also share what my husband and I were pre-approved for versus what we were actually comfortable spending, and why the "right" number is different for everyone. Ready to take the first step of finding your first home? Connect with a FAME agent in your area (it's free!) What you'll learn today: What lenders will actually pre-approve you for and why that number is almost always higher than what you should spend The 28/36 rule: how to calculate 28% of your gross income as a mortgage ceiling and why financial experts recommend it Why Ramit Sethi's version of the 28% rule includes maintenance and utilities, and how to estimate those costs The 25% rule: a more conservative formula using your take-home pay instead of gross income, and when it's realistic How the average home price, interest rates, and cost of living affect which formula actually works for you Why high earners, salaried workers, and business owners may each land on a different comfortable percentage How to find the sweet spot between what the formulas say and what you can actually sustain month to month Resources mentioned: Connect with a FAME agent in your area (free) Free homebuying masterclass I Will Teach You To Be Rich, by Ramit Sethi Connect with me: Follow me on Instagram Visit my website   CHAPTERS: 00:00 — How much of your income should you spend on a house? 00:54 — Why a lot of housing affordability advice is outdated 02:48 — What lenders will pre-approve you for (and why it's too high) 04:00 — Our pre-approval was more than my husband's entire paycheck 05:24 — The 28/36 rule: 28% of gross income for your mortgage 06:11 — Ramit Sethi's recommendation and how total housing costs factor in 07:24 — Why these formulas use gross income instead of take-home pay 08:13 — Why some people think 28% is still too high 08:45 — HUD's 30% guideline for housing affordability 09:19 — The 25% rule: a more conservative formula using take-home pay 10:58 — Why the 25% rule isn't realistic in many markets today 11:37 — What I personally spend and why I land between 25–28% of gross 13:13 — How income type, cost of living, and earnings level change the math 14:23 — Finding the sweet spot: what are you actually comfortable with? 15:19 — Connect with a FAME agent in your area

    16 min

  5. May 13

    33. How to Set a Realistic Budget for Your First Home (Without Going House Poor)

    How do you actually set a budget for buying a house: one that works for your real life and not just what a lender says you qualify for? In this episode, I'm walking you through the exact process I recommend to every first-time homebuyer. We're looking at your take-home pay, your fixed and variable expenses, your goals for after you buy, and what you're currently paying in rent. I also share the practice mortgage payment method that helped me and my husband figure out what we could actually afford when our payments doubled, and how you can use it to test your budget before you ever commit. Ready to take the first step of finding your first home? Connect with a FAME agent in your area (it's free!) What you'll learn today: Why your pre-approval amount and what you can actually afford are two completely different numbers How to figure out the highest mortgage payment you could realistically handle based on your take-home pay and fixed expenses How to have the priorities talk with your partner about what matters more: a bigger house or more lifestyle flexibility The practice mortgage payment method: how to simulate your future payment before you buy so you know what it actually feels like What to think about five to ten years out: kids, career changes, and how your needs in a home might shift How to use a mortgage calculator to work backwards from the monthly payment you're comfortable with to a home price Resources mentioned: Connect with a FAME agent in your area (free) Free homebuying masterclass Free guide: How much house can you afford? Fannie Mae mortgage calculator Connect with me: Follow me on Instagram Visit my website   CHAPTERS: 00:00 — How do you know how much house you can actually afford? 00:55 — The free guide that started it all 02:31 — The goal: a house that fits your life, not one that takes it over 04:18 — Start with your take-home pay and fixed expenses 06:27 — Variable expenses and the priorities conversation 09:57 — Your goals for after you buy 11:07 — What are you paying in rent, and how does it feel? 11:49 — Practice mortgage payments: test your budget before you commit 14:14 — How your life and finances might change in 5–10 years 15:00 — The ultimate question: what monthly payment are you comfortable with? 16:34 — Using a mortgage calculator to find your price range 19:13 — How to connect with a FAME agent

    20 min

  6. May 6

    32. The Hidden Costs of Buying a House That No One Warns You About

    Buying a house is one of the most exciting things you'll ever do, but it comes with costs that most first-time buyers don't see coming. And when your bank account is already feeling light from the down payment, an unexpected $1,200 Target run can feel like a gut punch. In this episode, I break down every hidden cost of buying a house in chronological order: what you'll pay before closing, what hits right after you get the keys, and the ongoing costs that come with homeownership so you can plan for all of it and actually enjoy your new home without the financial stress. Ready to take the first step of finding your first home? Connect with a FAME agent in your area — it's free. What you'll learn today: How much to budget for home inspections and appraisals before you even close (and why they're usually non-refundable) What earnest money is, how much it costs, and how it folds into your closing costs The post-closing expenses that catch almost every first-time buyer off guard, from tools to deep cleaning to window treatments Why most of your mortgage payment goes toward interest instead of paying down your loan, and what you can do about it How property taxes and homeowner's insurance can raise your monthly payment over time, even after your mortgage is paid off The 1% rule for home maintenance and why a six-month emergency fund gives you more peace of mind than a strict savings target Resources mentioned: Connect with a FAME agent in your area (free) Free homebuying masterclass Closing costs calculator (Fannie Mae) Mortgage amortization calculator Connect with me: Follow me on Instagram Visit my website   CHAPTERS: 00:00 — What are the hidden costs of buying a house? 01:24 — Welcome to Your First Home 03:43 — Hidden cost #1: Home inspections and the appraisal 07:03 — Why inspections and appraisals are usually non-refundable 07:32 — Hidden cost #2: The rest of your closing costs 09:42 — Hidden cost #3: Post-closing expenses (the costs no one talks about) 13:27 — Hidden cost #4: Mortgage interest and how your payment is really broken down 15:50 — Hidden cost #5: Property taxes and homeowner's insurance 16:40 — Hidden cost #6: Home maintenance and the 1% rule 18:03 — Why a six-month emergency fund changes everything 20:03 — Recap: every hidden cost in order 21:02 — How to connect with a FAME agent for free

    22 min

  7. Apr 29

    31. Will the Housing Market Crash in 2026? What First-Time Buyers Actually Need to Know

    You've probably seen the headlines: home prices are shifting, interest rates have been bouncing around, and it feels like every article is telling you something different about whether now is the right time to buy. But unfortunately, most of that information is based on data that's already two months old, so it's not as accurate as we'd hope. In this episode, I'm breaking down the real numbers behind the 2026 housing market: what's happening with interest rates, where home prices actually stand, why media headlines are misleading, and what all of it means for you if you're a first-time homebuyer trying to figure out your next move. Ready to take the first step of finding your first home? Connect with a FAME agent in your area — it's free.   What you'll learn today: What happened when interest rates dropped below 6% in February, and why they rose again before spring Why most housing market headlines are based on outdated data and how the two-month sales lag works What mortgage purchase applications tell us about buyer demand right now (and what they don't) How current housing inventory compares to the 2008 crash, and why we're nowhere near those numbers Where home prices actually are in Q2 2026 and how they compare to inflation and wage growth Why the national market doesn't tell you much, and how regional markets like the Northeast vs. Florida are moving in opposite directions How to find an agent who knows your local market so you're not overpaying or underbidding   Resources mentioned: Connect with a FAME agent in your area (free) Free homebuying masterclass Freddie Mac Primary Mortgage Market Survey Redfin housing market data Connect with me: Follow me on Instagram Visit my website   CHAPTERS: 00:00 — Why most housing market headlines are wrong 01:01 — Recap: what we predicted for 2026 at the start of the year 02:06 — How interest rates, home prices, and wages were expected to move together 05:33 — What actually happened: rates dropped below 6% in February 06:55 — The Iran conflict and the rate spike that followed 07:47 — Why we can't see real pricing data for two months 08:53 — What mortgage purchase applications tell us about demand 10:04 — Current housing inventory vs. the 2008 crash (70K vs. 400K listings) 11:28 — The spring market: where prices stand right now 12:34 — Why the national market doesn't matter — your local market does 14:05 — Regional breakdown: Northeast vs. Florida vs. Arizona 14:50 — How a FAME agent helps you navigate your local market

    17 min

  8. Apr 22

    30. 7 Best Pieces of Advice and Tips for First-Time Homebuyers

    Buying a house doesn't come with an instruction manual, and most of us were never taught how to do this. So if you're feeling lost on where to start, that's not your fault. In this episode, I'm sharing the seven best pieces of advice I give every first-time homebuyer, based on helping hundreds of people through this process and buying three homes myself. Some of these tips are for when you're actively house hunting, some are for before you buy, and some are for after. All of them will help you avoid the expensive surprises that catch most first-time buyers off guard. Ready to take the first step of finding your first home? Connect with a FAME agent in your area — it's free. What you'll learn: Why the age of the roof and HVAC system tells you more about a home than a renovated kitchen does How a fresh coat of paint is the most affordable upgrade (and how good staging can trick you into overpaying) Why you should never plan to move in right after closing, and how much overlap to budget for What to look for in a home inspector and why you should never shop for one based on price How to research a neighborhood before you tour a single home so you don't end up regretting your location Why talking to a mortgage lender is free, doesn't commit you to anything, and will answer 95% of your questions The timeline you actually need: when to connect with an agent and when to start touring homes   Resources mentioned: Connect with a FAME agent in your area (free) Free homebuying masterclass Episode 2: Red flags to look for with home inspector Vince Tecce Connect with me: Follow me on Instagram Follow me on TikTok Visit my website   CHAPTERS: 00:00 — Buying a house doesn't come with an instruction manual 01:30 — Tip 7: Always ask about the roof and HVAC system 03:42 — Tip 6: Never underestimate a fresh coat of paint 05:05 — Tip 5: Don't try to move in right after closing 05:59 — Tip 4: Research your home inspector before hiring 07:37 — Tip 3: Research the neighborhood before you look at homes 09:45 — Tip 2: Talk to a mortgage lender (it's free) 12:18 — Tip 1: Start the process early 13:53 — Recap and final advice

    15 min
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About

Welcome to Your First Home Podcast - I'm your host and homebuying expert Stacie Rihl and I've spent the last 8 years helping first-time homebuyers like you make their dreams of owning a home reality. Buckle up, because we're about to demystify the process and learn everything we should have been taught in school about the biggest and most exciting purchase you'll ever make. Your first home.

Information

  • Creator
    Stacie Rihl
  • Years Active
    2025 - 2026
  • Episodes
    38
  • Rating
    Explicit
  • Show Website
    Your First Home

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