Two people working at ShopRite. $10,000 in assistance. Less than $2,000 brought to the closing table. And they became homeowners.

On this episode of Troy Talks Money, I sit down with Gina Poslusny, a Realtor licensed in New Jersey and Pennsylvania who works extensively with first-time homebuyers.

Gina came to America as an au pair, spent 11 years in retail, and eventually made the jump into real estate. Today, more than half of her clients are first-time buyers.

One thing about her approach immediately caught my attention.

Instead of simply asking buyers how much they were pre-approved for, Gina asks:

What monthly payment are you actually comfortable with?

Because being approved for a mortgage and being comfortable making the payment are two very different things.

In this episode, we talk about why first-time buyers should not automatically shop at the top of their pre-approval, buyer assistance programs that may help qualifying buyers reduce upfront costs, the clients who received $10,000 in assistance and brought less than $2,000 to closing, affordability and inventory challenges, whether buyers should talk to a Realtor or lender first, and why your first house does not have to be your forever home.

Gina closes with a piece of advice every first-time buyer should hear:

“Don’t go at it emotionally. Go at it financially.”

If you are thinking about buying your first home, wondering whether homeownership is financially realistic, or work with people trying to make that decision, this conversation is for you.

Connect with Gina Poslusny at ginaposlusny.com.

And if you are already a homeowner and want to understand what comes after the closing table, visit TroyHolt.com.