Although buying a home seems like a daunting task, don’t forget that it’s just like buying anything else in life, only one of the bigger investments you’ll make. For instance, if you want granite countertops because you dont like the Formica, the lender is not going to pay for that. One benefit of home ownership that you can make a potential first time home buyer aware of is the financial advantage of owning a home versus renting. They are going to lie to you, once you sign and see the fine print you are going to realize that it is a ridiculous idea to pay that amount of money in fees. Did you know that under most first time home buyer programs that single parents are AUTOMATICALLY considered first time home buyers. It is, therefore , critical to consider all of these cost before settling for a mortgage.