First-Time Buyer Guide
Your Path to Homeownership
Everything you need to know about buying your first home.
Your Journey Starts Here
Today's real estate market is competitive for buyers, so it pays to be prepared! Before you jump into a large financial commitment, watch our videos to learn the five steps to success that every first-time homebuyer should follow.
1: Think it through
When you're deciding whether to rent or buy, there are some tradeoffs to consider! Renting is less of a commitment, but it doesn't contribute to your financial big picture like owning a home does. Watch now to discover some key pros and cons to each option!
2: Check your credit early
Many people avoid checking their credit for fear of hurting their score, but it may actually be wise to do so early in the process! Good things take time when it comes to your credit. Watch now to learn why it can pay to be prepared!
3: Understand your finances
Setting a budget is key to understanding what you can afford! Your affordability depends on a variety of lifestyle and financial factors, not just a maximum amount. Watch now to hear how you can determine what you can ACTUALLY afford!
4: Organize your documents
Time is of the essence when you are purchasing your first home in a competitive market! You need to be prepared to make offers and move quickly when you find your dream home. Watch now to learn what documents you should organize ahead of time!
5: Find your dream home!
Searching for the perfect property is only half of the challenge in a competitive market! You also have to act fast and get your offer accepted. Watch now to hear how working with an expert agent (and a top-notch mortgage company) can help you win your deal!
Bonus: Timing the process
When it comes to your first home purchase, every homebuyer has different circumstances to consider. There is not one right answer to timing this process! Watch now to hear how Ben recommends moving through the 5 steps above.
Before You Start Your Journey
Understanding the benefits available to first-time buyers and avoiding common pitfalls that trip up new homeowners will set you up for success and help you make confident decisions throughout the entire process.
First-Time Buyer Benefits
Take advantage of these perks
- Lower Down Payments: As little as 3% down with conventional loans or 3.5% with FHA
- Down Payment Assistance: Various programs available to help with upfront costs
- Tax Benefits: Mortgage interest and property tax deductions
- Special Programs: Designed specifically for first-time buyers
Common Mistakes
Avoid these costly errors
- Not getting prequalified before shopping
- Maxing out your budget
- Skipping the home inspection
- Not shopping around for mortgage rates
- Making large purchases before closing
- Forgetting about closing costs
Loan Options for First-Time Buyers
Choose the right financing for your situation
FHA Loans
3.5% Down Payment
Perfect for first-time buyers with 580+ credit score
Conventional 97
3% Down Payment
Great rates with good credit and no PMI premium
VA Loans
$0 Down Payment
Exclusive benefit for veterans and service members
USDA Loans
$0 Down Payment
Available for eligible rural and suburban areas
Ready to Start Your Journey?
Get prequalified today and take the first step toward owning your home.
