"One of the most common questions I hear is, 'How much money do I actually need to buy a home?' The answer surprises many people because it's often much less than they expected.

While a 20% down payment can help you avoid private mortgage insurance, it isn't required for most buyers. Many mortgage programs allow qualified buyers to purchase a home with much smaller down payments.

You'll also want to budget for closing costs, earnest money, inspections, and moving expenses. Fortunately, there are situations where sellers can help cover certain closing costs, and some buyers may qualify for down payment assistance programs.

Before you begin searching online for homes, meet with a mortgage professional who can review your finances and explain exactly what you'll need based on your goals.

The biggest mistake buyers make is assuming they can't afford to purchase a home without exploring their options. A quick conversation can answer many questions and help create a realistic plan toward homeownership."