Ready to Buy in 2025? Five Steps to Help You Plan

If 2025 is the year you have decided to purchase a new home, whether as a first-time buyer or a seasoned home owner, the best time to start preparing is now. Following these five simple strategies will help place you in an ideal position to find a home that is a good fit for you and your family.


Take a Closer Look at Your Credit Score. The first step toward purchasing a new home is to examine your finances closely. Start by making sure you know your credit score. Your credit score will help determine the interest rate and associated costs you pay on a mortgage loan. In general, the higher your credit score, the lower the interest rate you will qualify for.


Examine Your Finances. Before you search for a home, you must know how much house you can afford. Experts recommend talking to a qualified lender to help you determine your price range. As the buyer, you are the best judge of what you can realistically afford, so you should not set your home buying budget based on your maximum loan approval amount.


Plan for a Down Payment and Associated Costs. Once you figure out how much you’re willing to spend, you need to set a down payment goal. The longstanding myth is that you must put down 20 percent to purchase a home. You can move forward with a home purchase with a much lower down payment. Two factors that primarily impact your down payment amount are the home’s price and the type of home loan you secure. In addition to your down payment, you must budget for loan fees and closing costs.


Evaluate Your Needs. Put pen to paper, outline what you need and want in a new home and create a “must have” list. Start by thinking about why you’re ready to purchase a new home. Maybe you need a bigger space or want to move to a school district that fits your family’s needs. Creating a list of what you need in your new home will save you time when you are ready to start looking. Your next home may not meet every item on your priority list, so you must decide what factors you can compromise on and how you can stay within your budget. 


Sell Your Current Home. If buying your home this year is contingent upon selling your home, you should be prepared if the timing doesn’t align perfectly. Another consideration is to ensure you have sufficient funds on hand if you cannot have concurrent home closings. A real estate agent can help you navigate the transitions. A buyer or seller market makes a difference in timing the transaction, and a real estate agent and HBA of Columbia can shed light on local market factors. 


Contact Jami Clevenger (jami.clevenger@columbiahba.com) to learn about homeownership opportunities in the Columbia, MO area. 

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HUD Announces 14 Regulatory Changes to Help Lower Housing Costs

By Jami Clevenger • July 8, 2026
The U.S. Department of Housing and Urban Development announced 14 policy changes to its Federal Housing Administration (FHA) Single Family mortgage insurance program aimed at lowering costs, easing regulatory burdens, and improving affordability for Americans using FHA-insured mortgages. The updates remove outdated requirements, cut administrative burdens, and make FHA financing more efficient for home buyers and lenders. The changes affect FHA policies from mortgage origination through servicing and quality control, including: Streamlining Appraisal Field Review Requirements , reducing quality control requirements that average $425 per field review. The change is expected to save industry partners about $3.3 million annually while better aligning FHA with other programs. Expanding Flexibility under the Limited 203(k) Rehabilitation Mortgage Insurance Program , by allowing more contractor draw requests and making home rehabilitation projects easier to complete. Modernizing FHA Mortgagee Approval and Quality Control , including a permanent exemption for early payment defaults caused by natural disasters from required quality control review samples. This will help reduce mortgage costs, expand borrower access, and support smaller lenders’ participation in the FHA program. Eliminating the Duplicative Requirement for Lenders to Use the Important Notice to Homebuyers Form 92900-B , simplifying the closing process. Clarifying Loss Mitigation Requirements Governing Trial Payment Plans , to protect the FHA Mutual Mortgage Insurance Fund, prevent abuse, and ensure proactive borrowers are not penalized.

Use NAHB Resources to Protect Workers from Heat and UV Exposure

By Jami Clevenger • July 8, 2026
As NAHB recognizes UV Safety Awareness Month in July, it is important for home builders and general contractors to educate workers about the potential risks associated with ultraviolet (UV) radiation and have plans and resources in place to keep them safe on the jobsite.

Harvard Housing Study Shows Affordability Hitting Demand for Home Purchases

By Jami Clevenger • July 1, 2026
While supply concerns are still weighing on housing affordability, a combination of soaring prices and economic uncertainty is dragging on housing demand, according to the annual State of Nation’s Housing report from the Harvard Joint Center for Housing Studies (JCHS).
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