Buy
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Buying your first home involves more steps than it needs to feel like it does. Here's the full walkthrough — and a few things that trip up first-time buyers that don't need to trip you up.
Common myths, cleared up
"You need 20% down." Many buyers put down far less — some conventional loans allow as little as 3%, and FHA, VA, and USDA loans go lower still. Twenty percent avoids PMI; it isn't a requirement to buy. See what different down payments change.
"Perfect credit is required." Programs exist for a wide range of credit profiles. Your score affects your rate and options, not whether you can buy at all.
"Pre-approval and pre-qualification are the same thing." Pre-qualification is a quick estimate. Pre-approval means we've actually verified your income, assets, and credit — it's what sellers take seriously.
"You have to know exactly what you want before talking to a lender." It's the opposite, usually. Understanding what you can afford is what makes the rest of the search make sense.
The process
From here to the closing table
- Get oriented Understand what's realistic before you start looking. Watch for: Touring homes before you know your range — it's easy to fall for something outside it.
- Get pre-approved A pre-approval grounded in reviewed financial information. Watch for: A pre-qualification isn't the same as a pre-approval. A stronger pre-approval can give sellers greater confidence in your financing.
- Find the right home Shop with your agent, inside a budget you already understand. Watch for: Stretching past your pre-approved number because a listing felt right — talk to us before the offer, not after.
- Make an offer Backed by a pre-approval that holds up. Watch for: Financing terms and timelines matter as much as price — your agent and mortgage team should be aligned before you submit. Compare a price reduction with a seller credit.
- Underwriting The paperwork stage — where most delays happen. Watch for: New credit, big purchases, or job changes during this stage can jeopardize your approval — hold off until after closing.
- Closing day Sign, fund, get the keys. Watch for: Wiring instructions that arrive by email can be spoofed. Always confirm them by phone, with a number you already know.
See what's realistic for you
Start with a number, or start with a conversation — either works.