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National Homeownership Month: Preparing for Success

Published 10:51 pm Sunday, June 7, 2026

June is National Homeownership Month, a time to celebrate the opportunities, stability, and sense of community that can come with owning a home. Whether it’s a first condo, a growing family home, or a place to finally put down roots, homeownership is an exciting milestone for many buyers.

While most people focus on mortgage rates and monthly payments during the buying process, understanding the full picture of homeownership can help buyers feel even more confident and prepared for the journey ahead.

The good news? Many of the “hidden” costs of homeownership aren’t surprises when you plan for them early, and there are resources and programs available to help buyers get started.

Looking beyond the down payment

For many buyers, the down payment feels like the biggest obstacle to buying a home. But it’s important to remember there may also be other upfront costs to consider, including inspections, closing costs, moving expenses, and setting aside savings for future projects or repairs.

That’s why many homebuyers are surprised to learn there are loan programs and assistance options designed to help make homeownership more accessible.

“One of the biggest misconceptions we hear is that buyers need a huge down payment to purchase a home,” says Joel Smith, Director of Mortgage Lending at First Fed. “There are a variety of programs available today that may help qualified buyers get into a home sooner than they expected while still leaving room in their budget for other important expenses.”

Joel Smith, Director of Mortgage Lending at First Fed

Depending on eligibility, some buyers may qualify for down payment assistance programs or low down payment loan options that can help reduce upfront costs and preserve savings for future needs.

Homeownership comes with more than a mortgage payment

Owning a home means budgeting for more than just the mortgage payment. Property taxes, homeowners insurance, utilities, HOA dues (if applicable), and routine maintenance are all part of the picture. At the same time, homeownership gives you the freedom to make a space your own and invest in improvements over time.

“We encourage buyers to think about what homeownership will look like month-to-month, not just what it takes to qualify for a loan,” says Julie Myers, Mortgage Loan Officer at First Fed. “A comfortable budget creates flexibility and peace of mind, which helps homeowners enjoy the experience of owning their home.”

Julie Myers, Mortgage Loan Officer at First Fed.

Setting aside funds for future repairs and improvements can help make both planned projects and unexpected expenses more manageable, allowing homeowners to enjoy their investment with greater confidence.

Smart buying can create more financial flexibility

In competitive markets, it can be tempting to stretch a budget to purchase the biggest or most expensive home possible. However, many buyers find that maintaining financial flexibility after closing can make homeownership more enjoyable in the long run.

That could mean:

“Buying a home should feel exciting, not overwhelming,” says Tiffany Bergsma-Evans, Mortgage Loan Officer at First Fed. “Part of our role is helping buyers understand their options and find a solution that supports both their current needs and future goals.”

Tiffany Bergsma-Evans, Mortgage Loan Officer at First Fed

Understanding the long-term value of home equity

For many homeowners, one of the long-term benefits of owning a home is building equity over time.

As homeowners pay down their mortgage and property values change, that equity may later become a valuable financial resource. Some homeowners choose to use a Home Equity Line of Credit (HELOC) for future renovations, education expenses, debt consolidation, or other major goals.

Understanding how equity works can help homeowners think about their home not only as a place to live, but also as part of a broader financial plan.

Homeownership is about building a future

Owning a home comes with responsibilities, but it also creates opportunities to build stability, create memories and invest in your future.

National Homeownership Month is a reminder that successful homeownership isn’t about finding the “perfect” market conditions. It’s about preparation, education, and having trusted guidance along the way.

“The earlier buyers start the conversation, the more prepared they tend to feel,” says Michael Naslow, Mortgage Analyst and Loan Officer at First Fed. “We’re here to answer questions, explain your options, and help you build a plan that works for you.”

Michael Naslow, Mortgage Analyst and Loan Officer at First Fed

Whether you’re buying your first home, planning your next move, or exploring ways to use your home’s equity, First Fed’s mortgage team is here to help you understand your options and move forward with confidence.