This episode of Flash Talks Cash is for those of you who are looking to buy your first home! JoAnn "Flash" Fleming and Andrew Newman are joined today by Josh Steinhart, a New York City school teacher and newlywed looking to buy a home in Brooklyn. Tune in to hear about how down payments and closing costs scare potential homeowners away from the real estate market. Flash overviews different mortgage rate options and explains what option is best in this economy. What are the tax benefits of owning a home? And what are the pros and cons of buying in a new development? All this and more on this week's Flash Talks Cash! This episode has been brought to you by TriState Merchant Services, Inc.

"New developments often have tax abatements, so you don't pay real estate tax on your home, and they can be very significant."

"You should always try to use the bank's money for your assets."

-- JoAnn "Flash" Fleming on Flash Talks Cash