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I’m 18, I’m in College… How Do I Even Start Preparing to Buy a Home Someday?

December 2025 | First-Time Homebuyers | Presented by ReadySetLoan™️


Hi. I’m 18 years old. I’m in college. I don’t own a house. I don’t even own a couch that wasn’t free.

But I do think about the future — and one of the biggest questions I keep asking is: How does someone my age actually get ready to buy a home in Connecticut someday?

Everyone keeps talking about down payments, mortgage programs, and credit, but no one really explains it in a way that makes sense if you’re just starting out. So here’s what I’ve learned — and what I wish someone explained sooner.





First Things First: You Don’t Need 20% Down 

One of the biggest myths I heard growing up was that you need 20% down to buy a home.

That’s just not true — especially in Connecticut.

There are first-time homebuyer programs that allow buyers to purchase with very little money out of pocket, sometimes as low as 3% down or less. Some programs even help with the down payment itself.

This matters because saving $80,000 for a starter home feels impossible at 18 — but saving strategically over time suddenly feels realistic.



What Is CHFA — and Why Do So Many Connecticut Buyers Use It?

One program I keep hearing about is Connecticut Housing Finance Authority (CHFA).

CHFA is designed specifically for Connecticut residents who want to become homeowners — especially first-time buyers.

What makes it different:

  • Lower down payment requirements

  • Competitive interest rates

  • Down Payment Assistance Programs (DAP)

  • Flexible credit guidelines compared to many traditional loans

The important thing I learned?You don’t apply for CHFA on your own — you work with an approved lender who helps guide the process and makes sure you qualify.

That’s where education really matters.




What I Can Do at 18 (Even Without Buying Yet)

I can’t buy a home tomorrow — but I can prepare.

Here’s what actually makes a difference long before you’re ready to buy:

Build Credit (Slowly, On Purpose)

  • Open a starter credit card

  • Pay every bill on time

  • Keep balances low

  • Don’t open too many accounts at once

Good credit = better mortgage options later.

Learn How Mortgage Programs Work

Understanding programs like CHFA early helps you:

  • Avoid bad advice

  • Set realistic savings goals

  • Make smarter career and housing decisions after graduation

Start Thinking “Future Me”

Even small habits matter:

  • Saving consistently (even tiny amounts)

  • Avoiding unnecessary debt

  • Asking questions early instead of waiting until panic mode



RSL Piggy Points

  • You do not need 20% down to buy a home in Connecticut

  • CHFA is one of the most powerful tools for first-time buyers

  • Down payment assistance can change everything

  • Credit habits you build at 18 absolutely matter later

  • Education now = fewer mistakes later



Neil’s Take 

“Some of the best homebuyers I’ve worked with started asking questions years before they were ready to buy. Programs like CHFA reward preparation — not perfection.” — Neil Caron, Area Sales Manager, CMG Mortgage



Snout-Out: The RSL Perspective

If you’re young, in college, or just starting your career in Connecticut, the goal isn’t to buy a home now — it’s to understand how buying a home actually works before bad advice and myths steer you wrong.

That’s exactly why ReadySetLoan™️ exists — to help future buyers understand programs like CHFA, down payments, and smart preparation long before they’re ready to make an offer.

If you’re asking these questions early, you’re already ahead of the game. And when the time comes, you’ll be ready to run the race — not scramble at the starting line.

Learn more and start your homebuyer education journey at https://www.readysetloan.com




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