The Stairs Blog

As a part of a the State of the Union Address, President Biden is announcing a series of initiatives to help Americans buy homes.

The Dream for All Shared Appreciation Loan is a relatively new program — revised somewhat from last year — that helps first-generation and first-time homebuyers by providing up to 20% of a home’s value (the lesser of the purchase price or appraisal value) as a loan to cover down payments and/or closing costs. The maximum loan limit is $150,000.

Dallas and Houston are great cities, but they’re not equal. We break down Houston versus Dallas cost of living, traffic, schools, and income requirements.

Don’t let your finances stop you from moving out of your parents’ house. Use our moving out of parents’ house checklist to speed up your move.

Before you jump into the housing market, it’s important to have your home-buying facts in order. The eight most important (and fun) facts about buying a house.

There are a lot of home buying myths out there. Learn the truth about the most common mortgage myths as we sort fact from fiction.

Ever wonder how much house you can afford in Texas? We’ll help you do the calculations. Find out how much house you’ll get for your money throughout TX.

An at-a-glance overview showing first-time home buyers the average down payment on a house in Texas, both statewide and for each major metropolitan area.

Wondering how to break a lease in Texas? Find out when you’re allowed to break your lease and how to get help buying a home once that’s done.

Looking for the cheapest place in Texas to buy a house? A list of the cities with the cheapest housing prices, plus how to get help with your down payment.

Discover the cheapest places to live in Texas, and find out how to lower your expenses even more with down payment assistance.

We compare cost of living in Colorado vs Texas. See how each state stacks up, plus a city-by-city comparison of Houston, Denver, Dallas, Colorado Springs.

Discover the best neighborhoods in Dallas for families, why you might want to move to Dallas, and how to get help with a down payment.

Learn how to improve your credit score to buy a house. Practical tips to improve your FICO credit score for the best mortgage rates.

How much are closing costs in Texas? A Texas closing cost calculator that helps you understand what you’ll pay up front when you buy a home in TX.

How much are closing costs in Colorado? If you plan to buy a home in Colorado, closing costs are an important part of the equation.

Moving to Colorado Springs? Learn all about the best neighborhoods in Colorado Springs for families and how to have fun in town.

Discover all the best places to live in Texas for families, learn about the most affordable places in Texas, and how to get help with your down payment.

How much house can I afford with 100K salary? Find out how to get more money for a down payment and fit a house into your budget.

Learn how to calculate self-employed income for mortgage loans, and what you’ll need to verify your income for mortgage lenders.

Does a higher down payment make your offer stronger? Learn the impact of a high down payment and other strategies for strengthening your offer.

Is it worth putting up a larger down payment or should you save your cash? We discuss the advantages and disadvantages of a large down payment

What neighborhoods in Denver have the best playgrounds? How about walkability? The best neighborhoods in Denver for families, from city center to suburbs.

Following the death of George Floyd, banks made big promises to help address financial racial inequities. Three years on, how have they done?

Find out all the acceptable sources of down payment for conventional home loans.

Find out the minimum salary to afford a 500k house. Calculate your mortgage payments and the income needed depending on your debts and down payment.

What income do you need to afford a 400k house? Learn the income required for a 400K mortgage based on your debts, down payment, and other factors.

What is a down payment vs a deposit for a house? Learn the difference between initial deposits (AKA earnest money) and down payments.

How much do I need to make to buy a 300K house? We unpack how to budget for a $300K home, what income you need, and how to boost your buying power.

How much house can I afford on 40K a year? Here’s how to calculate an affordable home purchase price and account for other housing costs.

What is a special purpose program? Information on this new option for first time homebuyers, including special purpose credit program examples.

How far does the average American live from their mom? Turns out it’s 78.55 miles away or about an hour by car. Based on new 2023 data.

Now sure how much house you can afford if you make $60,000 a year? We break it down, plus show you how to get more house for your money.

How much is a down payment on a house? We debunk the 20% down payment myth and talk about how much down payment for a house you actually need.

What house can I afford on 50k a year? We break down what you can afford on a 50K salary and how to get more for your money.

Is it possible to buy a house if you make 25K a year? We explain how to buy a house on a salary of 25,000 a year and how much house you’ll get.

Learn how to buy a house with no money down using grants, loans, and lender credits. Also find out about home loans with low up-front costs.

“I make $70,000 a year. How much house can I afford?” Great question. See what house you can afford on 70K a year and how to get down payment help.

Biden’s $15000 tax credit was introduced in 2021. Find out where the bill is now and how to get this first-time homebuyer tax credit.

A guide to Biden’s first-time buyers $25,000 Downpayment Toward Equity Act of 2021. Eligibility info and how to apply for Biden’s down payment assistance.

What is the cheapest state to buy a house in 2023? What about the cheapest state to live in the US? We dove into the housing market data to find out.

Learn all about gifted down payments: What happens if you pay back a gifted down payment? What goes into a gift letter for a mortgage? Who can give a gift?

Down Payments, amiright? The downpayment on a house is a hefty sum. We’re not even talking the full 20% to avoid PMI, even just the 3% to get a basic FHA loan can truly be a financial burden. It takes a village to raise a child, but good hell, these days it takes a village […]

The year is 2017, and the housing market, fairly typical. There was average competition, room for negotiation, and a surplus of inventory. Buying a house felt like the methodical and logical process it should be, where we can factor in everything. We happened across a down payment assistance program, and it was the BEST factor […]

Study after study has shown clear links between a family’s housing stability and their child’s educational attainment. Enabling access to down payment assistance lifts up families, children and communities. That’s why One City Schools agreed to serve as the pilot site last year for Own It: Building Black Wealth. When I helped start One City […]

Mortgage brokers are here to help and serve you. They act as an intermediary between you and lenders, to ensure that you get the best mortgage rate possible. They are qualified experts who can assist you in choosing the best mortgage option to meet your financial situation and objectives. Mortgage brokers make their money as […]

Disclaimer: Listen, it wouldn’t be prudent for us to start this article without a HEAVY warning. Using your 401K or IRA for the down payment of your house is not a circumstance that should be frequently used or considered. Doing this could benefit a very niche group of people in specific circumstances (that you must […]

The purpose of pre-approval for first-time home buyers A pre-approval from a mortgage lender helps you plan for your maximum house budget. It’s a soft inquiry on your credit and isn’t tied to a specific house. The amount you get approved for is what the lender feels comfortable saying: (1) we will likely lend you […]

Closing on a house comes with a lot of paperwork. You and all relevant parties will sit down and sign approximately 100 pages about your new purchase. Expect this to take about an hour. The lender wants to ensure that everyone is on the same page (literally!) with how you plan to pay for your […]

Hello world! We’re Stairs Financial–we help young Americans buy a home they can afford. We find homes within your budget and give you access to grants, loans and tax breaks. We’re excited to announce that we’re a part of the YCombinator W22 batch! Thanks to YC and to our earliest investors at Antler for their […]

For a few years now, home buyers have been pushed to buy homes to take advantage of historically low mortgage rates. But now, mortgage rates are finally starting to tick back up. In this post, we’ll go over the recent rise in rates and discuss what that means for buyers in the market right now. […]

On the campaign trail, President Biden ensured his supporters that housing affordability would be a key part of his domestic policy. For aspiring home buyers, the most important provision would incentivize home buying at the national level, the same way many states and local governments have.  As a candidate, Biden proposed a $15,000 first-time home […]