How much house can you actually afford as a first-time home buyer?

Getting approved for a mortgage is one thing. Choosing a monthly housing payment that fits your lifestyle, savings goals, and long-term financial plan is something completely different.

In this episode of the First Time Home Buyer Pros Podcast, Dat Nguyen sits down with wealth advisor Richard Riva of Wealth Management Solutions to break down how first-time home buyers should think about their home buying budget before making one of the biggest financial decisions of their lives.

We cover:

• How much of your income should go toward housing
• Why your maximum mortgage approval shouldn't automatically become your budget
• The importance of monthly cash flow when buying a home
• Property taxes, insurance, HOA fees, maintenance, utilities, and other costs buyers underestimate
• How much you should continue saving after buying
• How to avoid becoming house rich and cash poor
• How buying your first home fits into a long-term financial plan

The biggest takeaway: Don't just ask, “How much can I qualify for?” Ask, “What monthly payment actually fits my life?”

Richard Riva is a wealth advisor with Wealth Management Solutions and can be found at www.wms-llc.com.

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FTHBPros.com

Connect with Dat Nguyen:

Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group NMLS 1379110

If you know someone thinking about buying their first home, send them this episode. The more you understand the process before you start, the easier it is to make confident decisions when the right home comes along.

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

Waiting for mortgage rates to drop can cost us more because lower rates often pull buyers back in and push home prices higher. We walk through the math, explain “marry the house, date the rate,” and lay out practical ways to lower a monthly payment in a high-rate market. 

• why falling rates can trigger demand spikes and bidding wars 
• side-by-side payment math showing how a higher price can erase rate savings 
• what “marry the house, date the rate” means in real life 
• how refinancing works, typical closing costs, and when the savings can justify it 
• permanent rate buydowns using points and possible seller concessions 
• temporary 2-1 and 1-0 buydowns for short-term payment relief 
• new construction builder incentives that can reduce rates 
• credit score optimization steps that can lower interest rate offers 
• when waiting is the smart move, including credit, reserves, job stability, and life plans 

Send us Fan Mail

Free First-Time Homebuyer Tools:
FTHBPros.com

Connect with Dat Nguyen:

Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group NMLS 1379110

If you know someone thinking about buying their first home, send them this episode. The more you understand the process before you start, the easier it is to make confident decisions when the right home comes along.

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

Trying to decide whether you should buy your first home now or wait for interest rates or home prices to change?

In this episode, I break down how to know when you’re actually ready to buy a home — based on your monthly payment, savings, financial stability, lifestyle, and long-term plans rather than trying to perfectly time the housing market.

You’ll learn:

• When waiting to buy may actually be the smarter decision
• Why the payment you qualify for isn't always the payment you should take on
• How much money you should have left after closing
• Whether you should wait for mortgage rates to drop
• Why you shouldn't buy a home based on the assumption that you can refinance later
• The questions every first-time homebuyer should ask before getting started

The right time to buy isn't when the market is perfect. It's when the numbers, your lifestyle, and your long-term plans make sense for you.

Thinking about buying your first home? Get a personalized homebuying game plan and understand your numbers before you start shopping. Visit the link in the show notes or message me on Instagram at @datloans.

Send us Fan Mail

Free First-Time Homebuyer Tools:
FTHBPros.com

Connect with Dat Nguyen:

Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group NMLS 1379110

If you know someone thinking about buying their first home, send them this episode. The more you understand the process before you start, the easier it is to make confident decisions when the right home comes along.

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

Most first-time buyers feel like they know a lot of words but don't actually understand what's happening. This episode fixes that.

In Episode 1, Dat walks you through the seven moments in the home buying process that actually matter — not a checklist, not 12 generic steps, but the specific points where buyers get surprised, get scared, or make mistakes they didn't have to make.

What you'll learn:

• Why your first lender conversation is about truth, not paperwork
• How to build a lender + agent team that actually works together
• What goes into an offer beyond the price
• The wire fraud scam targeting home buyers right now (and how to avoid it)
• The difference between an inspection and an appraisal
• Why underwriting feels stressful — and why it doesn't have to
• What "clear to close" means and what happens on closing day

By the end of this episode, you'll know what's coming. And knowing what's coming changes everything.

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Find all our episodes, articles, newsletter, and resources on our main site: https://FTHBPros.com

Contact Information:
Dat Nguyen – Certified Mortgage Advisor
(714) 331-6289
h[email protected]

NMLS# 113790

Headlines keep promising drama, but the 2025 housing story is quieter—and more strategic—than most people think. We break down what actually matters for first-time buyers right now: prices holding steady, inventory finally improving, and mortgage rates edging lower without a freefall. The twist? A small shift in rates can invite millions of buyers back into the market, reshaping the starter-home battlefield overnight.

We share a clear, local-first view of price trends—from California’s slight year-over-year bump to the sharper cool-downs some Sun Belt cities may face—and explain why the Midwest and similarly stable markets could still notch modest gains. You’ll hear how days on market are rising, sale-to-list ratios have softened to around 98%, and why that grants real negotiating power through the quieter fall season. Credits, repairs, and seller-paid points aren’t abstract ideas; they’re practical tools to bend the monthly payment in your favor.

We also demystify what moves mortgage rates: inflation and unemployment. Rather than chasing headlines, we outline how to watch CPI trends and labor data, and why mortgage pricing often reacts to expectations before policy announcements land. Most importantly, we lay out a simple, resilient game plan—buy for fit and long-term stability, secure the best terms you can today, and keep a refinance strategy ready if rates break lower. That way, you capture today’s calmer negotiations while staying nimble for tomorrow’s opportunities.

If you’re weighing “buy now or wait,” this is your field guide to making the numbers work without betting on a mythical perfect moment. Subscribe, share with a friend who’s house hunting, and leave a quick review to tell us your market and your biggest question—we might feature it next.

Send us Fan Mail

Free First-Time Homebuyer Tools:
FTHBPros.com

Connect with Dat Nguyen:

Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group NMLS 1379110

If you know someone thinking about buying their first home, send them this episode. The more you understand the process before you start, the easier it is to make confident decisions when the right home comes along.

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

The podcast highlights the challenges of navigating the 2025 housing market, emphasizing high-interest rates, new commission structures, and insurance implications in disaster-prone states. Listeners are urged to remain proactive and informed to achieve successful homeownership.

• Discussion of current interest rates and their impact on purchasing power 
• The significance of budgeting for long-term affordability 
• New commission structures introduce transparency in real estate transactions 
• Importance of buyer broker agreements for clarity in agent relationships 
• Insurance challenges in California and Florida due to natural disasters 
• Steps to mitigate risks and prepare for insurance costs 
• Encouragement to stay informed and proactive throughout the buying process 
• Final thoughts on realistic goals and being prepared financially

Send us Fan Mail

Free First-Time Homebuyer Tools:
FTHBPros.com

Connect with Dat Nguyen:

Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group NMLS 1379110

If you know someone thinking about buying their first home, send them this episode. The more you understand the process before you start, the easier it is to make confident decisions when the right home comes along.

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

Ever thought about how you might be leaving money on the table in your home buying negotiations? Well, we've got the perfect episode for you! Today, we're unpacking the mysterious world of seller concessions, and how they can work in your favor. We'll guide you on how to seek them out, negotiate them, and the remarkable role they can play in reducing the financial strain of homeownership. We delve into the specifics, exposing the limits, the caveats, and how to navigate them. Plus, we’ll explain how you can combine these concessions with down payment assistance programs to maximize your savings.

Ready for a revelation? What if you could get a concession, not to replace that worn-out carpet, but to choose your own stylish flooring post-closing? Yes, that's possible! We take you through the finer details of this strategy, and how it could give you a competitive edge in negotiations. This conversation is full of practical advice, real-life examples, and strategies that will alter the way you approach your home buying negotiations. For more insightful tips and guidance, be sure to check out FTHBPros.com. Trust us; this is the episode that makes the complex world of seller concessions simple, helping you better understand the costs associated with buying a home. So sit back, tune in, and let us guide you through your home buying journey.

Send us Fan Mail

Free First-Time Homebuyer Tools:
FTHBPros.com

Connect with Dat Nguyen:

Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group NMLS 1379110

If you know someone thinking about buying their first home, send them this episode. The more you understand the process before you start, the easier it is to make confident decisions when the right home comes along.

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

Ever wondered what distinguishes a manufactured home from a stick-built one? Or perhaps you've grappled with the stigmas and misconceptions surrounding manufactured homes. If so, this episode is for you. We're joined by the seasoned expert and owner of Stell RE Group, Steven Ellefson, who brings his deep knowledge and insights into the world of manufactured homes.

Steven helps us navigate the nuances between manufactured homes, mobile homes, and stick-built homes, shedding light on the regulations that have shaped the industry. He offers a fascinating exploration of the key 1976 regulation that made financing manufactured homes possible and breaks down the diverse purchasing options, such as land leases. If you're a first-time homebuyer, Steven's advice on FHA financing and how to find a turnkey home is a must-hear!

Why choose a manufactured home? Steven provides compelling arguments, dispelling myths and misconceptions, and highlighting the high-quality materials used in construction. He breaks down the affordability, energy-efficiency, and remarkable features of these homes compared to stick-built homes. Steven also offers invaluable advice on finding a local expert in the field, ensuring you're equipped with all the information you need to make the right choice. Don't miss out on this enlightening and comprehensive guide into the world of manufactured homes! Tune in and discover why a manufactured home might just be the perfect fit for you.

Steven Ellefson
Realtor / MH Sales Specialist 
(951) 663-5082
Legacy Homes Realty
DRE: 02100895
Stell RE Group

Send us Fan Mail

Free First-Time Homebuyer Tools:
FTHBPros.com

Connect with Dat Nguyen:

Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group NMLS 1379110

If you know someone thinking about buying their first home, send them this episode. The more you understand the process before you start, the easier it is to make confident decisions when the right home comes along.

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

We're looking at some of the most devious scams and practices that could happen to first-time home buyers. From fake rental listings, bait and switch schemes, to the devastating impact of title fraud - we expose the top 10 that can affect you. 

We look at the importance of title insurance and the potential pitfalls related to property titles. It's not about scaring you, but empowering you with crucial information. We look into the dark world of predatory lending and home improvement scams, loan flipping, the cybercrime of escrow wire fraud, and the deceitful world of scamming contractors. 
But we're also arming you with practical steps to combat these scams. We discuss the importance of due diligence, understanding the fine print of your loan terms, and the value of an independent home inspection. Remember, knowledge is power, and power is what you will gain from this enlightening episode. So tune in, and let's fight these scams together.

Send us Fan Mail

Free First-Time Homebuyer Tools:
FTHBPros.com

Connect with Dat Nguyen:

Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group NMLS 1379110

If you know someone thinking about buying their first home, send them this episode. The more you understand the process before you start, the easier it is to make confident decisions when the right home comes along.

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.

What if we told you that choosing a smaller home could actually lead to a happier, more fulfilling life? Join us as we explore the ever-changing concept of the "right size" home and discuss how sometimes, less is more. We'll take you on a journey through the history of home sizes, from the early 20th century to the present day, and discuss the impact of events like the post-World War II housing boom, the energy crisis, and even the COVID-19 pandemic on our perception of the perfect home size.

Discover the benefits of owning a smaller home, such as lower maintenance and utility costs, and how it could contribute to building generational wealth. We'll also dive into the challenges of smaller homes, like storage and resale value, and provide practical tips on working around these issues. Plus, learn how to make the most of the space you have - regardless of square footage. Don't miss out on this insightful conversation that could help you make the best decision for your lifestyle and housing needs!

Send us Fan Mail

Free First-Time Homebuyer Tools:
FTHBPros.com

Connect with Dat Nguyen:

Email: [email protected] or [email protected]
Instagram: @Datloans
Everyday Lending Group NMLS 1379110

If you know someone thinking about buying their first home, send them this episode. The more you understand the process before you start, the easier it is to make confident decisions when the right home comes along.

Follow First Time Homebuyer Pros so you don’t miss the upcoming deep dives on pre-approval, credit, mortgage rates, writing offers, appraisals, underwriting, and more.