The key for a first time buyer is to put down at least 20% (which avoids PMI) and put off cosmetic improvements and furniture purchases until you have cash to pay for them. I see too many young first time buyers run up credit cards to get the house perfect and that will almost always put you in a bad situation. You might have to live with old lady wallpaper, outdated appliances and ugly furniture for a while. The main thing is having a solid house to live in and a rainy day fund for the critical repairs that will inevitably be necessary.
Taking out equity loans or borrowing from your 401k to make cosmetic improvements is always a mistake.
Or, they believe the “Zero % Loans” of the furniture company......
“Yes, as house prices fall, the mortgage rates tend to increase.”
You’ve got cause and effect reversed there.