First Time Buyer’s Guide

Pre-Qualify Now

A person’s first home purchase is a big deal. It takes time, energy, and money. To help with the money hurdle, some people use first time home buyer loans. These programs vary depending on where they’re offered, but the general idea is this: first time home buyer loans give financial assistance to qualified borrowers. They may do this in the following ways:

  • Allow for a very low down payment
    You should research first time home buyer loans available in your area. A good place to start is the  on home buying programs.


Who Gets First Time Home Buyer Loans?

As you might imagine, individuals who have never owned a home are good candidates. In addition, some programs offer first time home buyer loans to people who have not found a home within the last three years. Again, check to see what’s available to you.

You may have to meet certain income restrictions to qualify for a subsidized first time home buyer loan. In general, these programs try to limit benefits to people with low and moderate income levels. If you earn too much, you won’t qualify for the program.

First Time Home Buyer Loan Restrictions

Most programs put a dollar limit on the property you’re buying. You probably can’t use a first time home buyer loan to buy the more expensive properties in your area. Instead, you’ll be limited to properties on the lower end of the spectrum. Again, the idea is to benefit people who have the most need.

You also have to live in the home as your primary residence. Finally, the home you buy most likely has to meet some physical requirements. It must be in good condition and free from any safety hazards (such as lead-based paint, for example).

There are few moments in life where the moment is so big and so beautiful that you remember all the details… And buying your first home is certainly one of those times.

Our job is simply to make sure it’s as easy and beautiful as possible.  Even when you’re nervous about the road not yet traveled.

Check out our blueprint cheat-sheet below. Hopefully it helps.  And if you’d like us to be a more active partner on the journey, obviously we’d love to help with that as well.

Our 7-Step Blueprint


Save. Save. Save.

The goal is to have saved about 3.5%-20% of the home you would like… as well as three months living expenses. Yes, it’s tough. But it’s also so worth it.


Budget. Budget. Budget.

There’s so much beauty in owning your own home. Personal pride and enjoyment. And long-term financial wisdom in earning equity and assets vs just losing money to rent. But it’s not worth jumping into until you’re budgeted wisely and comfortably. That peace is worth so much.


Find a Mortgage Lender Partner.

Choose us, Choose us, Choose us. In seriousness this is an important step you need to get pre-qualified from a lender in order for potential sellers to take you seriously.  Advantages offered to First Time Home Buyers is the ability to put a smaller amount of down payment on your first home.


Ummm. Time to pick out a home.

We can certainly recommend a Realtor. You need to consider location. School districts. Resale value. Cost per square foot. Negotiating. Home Inspection. Contracts. Home Appraisals. We could go on and on… you get the point. You focus on the beauty. Let your chosen Realtor focus on the details and then call us when you’ve found your dream home.

Go Slow.

It’s easy to get excited about the emotions that rush with the thought of a new home. But go slow. Because feeling confident that it was a wise decision at the right time is a big deal. Go over your budget once more with your mortgage payment plugged in. And get details on utilities, homeowner insurance, or any other specific  costs you’ll need for THAT home.


Don’t take out any Extra Credit until closing.

It’s truth. We often go out and buy some other cool things when we buy a new house. Just be careful doing that. Opening up new credit between contract day and closing day CAN potentially affect the closing. We’ll be happy to give you all the advice you need on this when we’re walking through the process together.


Close…and Call Your Friends for Moving Day!

We’ll take care of all the needed details in regard to closing. We like to say that we’ll drive the Limo while you sit in the plushy seats in the back. Cause trust us, you’re going to have enough on your plate… like deciding where the big screen will go or what color to paint your brand new bedroom.


Sound like a fit?

Tell us a little about yourself here, and we’ll follow up with you as soon as possible.