Money experts chat: Buying your first home

Buying your first home may be the quintessential American rite of passage, surpassing even going to college or getting that hand-me-down car. But it isn’t easy these days, with lenders tightening their belts and affordable homes hard to find. That’s even if you don’t have massive levels of student loans to repay.

The news isn’t all bleak, though. Interest rates remain well below historical averages. And the latest technology tools arm you with the kind of information that would make your grandparent’s realtor jealous.

In the May issue of Money, we discuss how to prepare your finances for the big buy. Take a look at our checklist for first-time home buyers: It walks you through necessary steps, from making sure the time is right to picking the right loan.

But maybe you want to know more about the process: How do you get started? What’s the difference between going with that fixer-upper versus buying new? How about a foreclosure?

Join us on Twitter Thursday, May 8 at 3pm EST/12pm PT, and put your questions about buying your first home to the experts.

The Experts:

• Brendon DeSimone (@brendondesimone) is a realtor and author of Next Generation Real Estate. He blogs regularly for @zillow.
• Lisa Gibbs, (@LisaGibbs954) writes about real estate for Money from her home in Fort Lauderdale.

How To Join:

• Just hop onto Twitter on Thursday at 3pm EST/12 am PST
• Follow @Money, where we will be moderating the chat and sharing your questions and responses
• Ask a question by including the hashtag #MoneyMagChat
• Watch it all unfold by searching #MoneyMagChat on Twitter or TweetChat

That's it. We look forward to hearing from you via the #MoneyMagChat hashtag on Thursday!

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