Financial prep
Start here to understand how to build credit, budget, or see what you can afford
Am I financially ready?
Feeling "ready" isn’t about perfection. It’s about clarity, curiosity, and knowing what steps come next. Whether you’re working on your credit, stacking savings, or just now figuring out how all this works, this page is for you.
Here's what this page covers:
- Financial readiness
- How much home you can afford
- What you'll pay, now and later
Know what you can afford
Use our home affordability calculator to help you through the homebuying process. Get an estimated home price and monthly mortgage payment based on your income, monthly debt, down payment, and location.
Your monthly payment may include additional costs, including HOA fees, condo fees and utilities, which are not included. Loan terms and mortgage interest rates may vary based on credit score and your individual situation.
Three important things to keep in mind
Our advice: Know where your money is going
A simple budget isn’t just about cutting back — it’s about seeing your money clearly. When you know what and where you’re spending, it can be easier to make changes that actually stick.
Not yet ready? Their start looked like yours
Maria’s gig work made proof of income tricky
She worked multiple freelance jobs and was worried her income wouldn’t count. But with the right paperwork and some guidance from her home mortgage consultant, she qualified. Turns out, knowing who to talk to matters just as much as a W-2.
Janelle found creative ways to save for her home
She was tired of advice that felt unrealistic. Instead of cutting every joy out of her budget, she made swaps that worked for her life. Meal prepping and DIY holiday gifts. Within a year, she was finally able to put money away toward her down payment.
Tony went from no credit to 620
Rather than rushing into the process, Tony used Credit Close-Up® to better understand his credit profile and identify ways to improve it. By following personalized recommendations and building healthy credit habits, he watched his score improve over time.
How much is this all going to cost?
What you'll pay up front
These are the one-time costs you’ll cover before getting your keys:
- Down payment
- Closing costs
- Appraisal fee
- Private mortgage insurance (PMI) can be a single payment paid at closing if you put less than 20% down
What you'll pay after
Once you've closed, here's what you'll likely be paying month to month:
- Mortgage payment
- Property taxes
- Homeowners insurance
- Maintenance and repair savings
- Private mortgage insurance (PMI), often added to your monthly payment if you put less than 20% down
,gravity=Center)
You're not doing this alone
We're here for you with answers, tools, and a team of people who've got your back at every turn.
Ready to get started?
1-888-446-2350
Mon – Fri: 7 am – 8 pm
Sat: 8 am – 6 pm
Central Time
Mon – Fri: 7 am – 8 pm
Sat: 8 am – 6 pm
Central Time
Just starting out?
We can call you
Share your contact info, and we'll have someone reach out to help.
Puzzled by the process?
Attend our events
Join other first-time homebuyers at an event near you.
Ready to continue your journey? Here's what's up next:
Applying for a mortgage
Getting a mortgage starts with understanding your loan options, getting prequalified or preapproved, and preparing the financial information needed to move confidently through the application process.
Other steps
How was your experience? Give us feedback.
Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A.
DT1-10192027-12-9182309-1.1
