Homeownership can help build your wealth, but you can easily end up paying too much for your house and your mortgage.
Buy a home when it's right for you. Don't be persuaded by common myths about homeowning or be pressured into a purchase when you're not ready.
Try to cap your housing costs at 25% of your gross income to give yourself some financial flexibility.
Consider matching your mortgage type to the length of time you expect to be in the house. But don't automatically discount the traditional 30-year, fixed-rate mortgage, which offers stability and flexibility for many buyers.
Refinance when it makes sense for your particular financial situation. There are no rules of thumb; the decision rests on your goals, ...