Loan programs
First-time homebuyers
A first purchase is mostly a question of cash and nerves. Low down payment programs, down payment assistance from state and local agencies, and a clear plan from pre-approval to keys take care of most of both.
Who it fits
- Buyers who have not owned a home in the last three years (the usual definition)
- Buyers with savings smaller than they think a down payment needs
- Anyone who wants the process explained before it starts
What to know
- Conventional, FHA, VA and USDA all have options built for first-time buyers.
- State housing finance agencies and many cities offer down payment and closing cost assistance.
- A real pre-approval, with income and assets checked, makes your offer stronger than a pre-qualification.
What you'll need
- A rough budget and where you want to buy
- Recent pay stubs and bank statements
- A credit check when you are ready
Questions
First-time buyers questions
How much do I need saved to buy my first home?
Usually less than people assume. Between low down payment programs, assistance and seller credits, the cash needed can be modest. A short conversation about your budget gives a real number.
Should I get pre-approved before I look at homes?
Yes. It tells you what you can afford before you fall for a house, and sellers take your offer more seriously.
Get started
Talk through your first purchase
A few details and Lucas will come back with real options and real numbers, usually the same business day.
- No cost and no obligation
- Answered by Lucas, not a call center
- Your information is never sold