If you are a first time home buyer and thinking about purchasing a home, It may seem confusing as to where you should start. Do I speak to a lender first? Search on the internet to see what homes are selling for in my area? How much money will I need for a down payment? What will my interest rate be and how much will my monthly house payment be? I have received a gift from a family member for a down payment, can I use that for my down payment? What is seasoning money mean? All of these questions are great but your lender is the first person you need to speak with regarding qualifying for a loan and go about providing your agent with a prequalification letter.