Buying a home is a big step. But between real estate headlines, social media advice and well-meaning opinions from friends, knowing when and how to make a move can be hard.

Here’s what you need to know if you’re planning to buy a house in 2026.

What Mortgage Rates and Home Prices ‘Might’ Do

Currently, many experts think mortgage rates will remain around the mid‑6 percent range through 2026, maybe dropping a little as the year goes on. Some even say rates could end the year just under 6 percent, which would feel like a relief compared to the higher rates we’ve seen recently.

Home prices are expected to stay mostly steady, or maybe creep up a bit in some areas. That’s mostly because there’s still strong demand and not a ton of inventory in a lot of markets.

For homebuyers, this means that rates might provide a little breathing room. However, don’t expect them to drop back to the super low numbers from a few years ago. Prices are still on the higher side in many places, so it’s better to be ready and make a move when it makes sense for you. Waiting around for the “perfect” rate could mean missing the house that works for your life and budget.

Get Pre‑Approved and Know What You Could Afford

One of the best things you can do before you start house hunting is get pre‑approved for a mortgage.

Pre‑approval is different from pre‑qualification because it actually looks at your income, credit and finances so you know exactly what you could borrow. That helps you shop within a realistic budget and shows sellers you’re serious.

But here’s a key point that a lot of first‑time buyers overlook: just because a lender says you could afford a certain amount doesn’t mean you should spend that much. It’s perfectly okay to aim lower if it gives you more wiggle room and peace of mind.

You Will Need Cash Upfront

Buying a house isn’t just about the monthly mortgage payment. You’re also going to need out‑of‑pocket cash upfront for your down payment and closing costs. The good news is that many people can buy homes with smaller down payments, and there are also assistance options that might help you.

For example, FirstBank Mortgage offers programs that let qualified borrowers put down as little as 3 percent. That kind of flexibility can make homeownership more achievable without draining all your savings.

You can also ask about down payment assistance programs available in your area. These can come in the form of grants or forgivable loans that reduce the amount you need to bring to closing, and in other cases assistance may be rolled into your loan.

Another tool some buyers use is a temporary mortgage rate buydown. With programs like the 2/1 or 3/2/1 buydown, you can get a lower interest rate for the first years of your loan, giving you a softer payment as you settle into your new home. This can be helpful if you expect your income to grow over time.

Think Long Term

When you hear that rates might come down, you might think you can always refinance later to get a better payment. But even though refinancing can make sense in the right situation, you shouldn’t count on it as a plan.

Rates may move up or down, and there’s no guarantee when or how much they’ll change. And the truth is, forecasts for 2026 only suggest gradual movement, not a dramatic drop.

Before buying, think about your future job stability, where you see your life in the next five to 10 years, and how this home fits into that picture. Because in the end, a house should match your long‑term goals, not just trends in the moment. That means making choices that feel solid for you even if the market doesn’t swing in your favor.

If buying a home in 2026 is on your radar, you don’t have to figure it all out on your own. Reach out to a FirstBank Mortgage expert to understand your options and get clear, personalized guidance before you take the next step.