FIRST-TIME BUYER EDUCATION
Everything You Need to Know Before You Buy Your First Home
No forms or email are required. This is a straightforward walkthrough of the eight things that matter most before you start looking at houses.
Your First Home, Step by Step
These are the eight important areas every first-time buyer should understand before purchasing a home. Think of them as your roadmap to confidence.
Step 01 · Credit Score
Know your credit score first.
Your credit score drives everything.
Your score is one of the biggest factors in what rate and loan programs you’ll qualify for. Paying down balances and correcting errors before you buy can meaningfully improve your terms.
Tip: Do this before you look at a single house. Every good lender will coach you through your report.
Step 02 · Down Payment
You may not need 20% down.
Most buyers don't, and many qualify for assistance they don't know exists.
State programs and down payment assistance can help bridge the gap. Depending on where you live, you may be eligible for thousands of dollars toward your down payment or closing costs, sometimes with no monthly payment.
Tip: Ask us which programs are currently active in your county. Funding and eligibility change often.
Step 03 · Contract-Ready Approval
Get approved before you offer, not after.
A pre-qualification is a guess. Contract-Ready is a decision.
A basic pre-qualification is an estimate. Contract-Ready Approval is a full, upfront underwriting review of your income, assets, and credit. That makes your offer stronger and more credible to sellers.
Tip: In many markets, a Contract-Ready Approval is treated almost like a cash offer.
Step 04 · Documents
Have your paperwork before you apply.
This is the most common source of delay and the easiest to avoid.
Gather the basics early: pay stubs, tax returns, bank statements, and a photo ID. If you’re self-employed or commission-based, we’ll guide you on what else to collect.
Tip: Gathering this early avoids the most common source of delays later in the process.
You may qualify for more than you think.
Getting pre-approved can give you a clearer picture of your budget and what comes next.
Step 05 · Total Cost Worksheet
The one document to fully understand before closing.
If a number doesn't make sense, ask before you sign anything.
Your Total Cost Worksheet breaks down your full monthly payment (principal, interest, taxes, insurance, and mortgage insurance, if needed), every closing cost line item, any seller or lender credits applied, and your true total cash to close. It’s the clearest way to understand what you’ll pay at signing and every month after.
Tip: This is the financial document you need to fully understand before looking at any homes.
Step 06 · Choosing an Agent
Your agent matters as much as your lender.
Interview more than one before you commit.
Your agent should know your target neighborhoods well, understand how to negotiate, communicate in a way that works for you, and represent your interests, not just the transaction. Ask how many first-time buyers they’ve worked with recently, and don’t be afraid to interview more than one before committing.
Tip: We work with strong local agents across our markets and are happy to make an introduction.
Step 07 · Negotiating
Your offer is more than just price.
Contingencies, timelines, and credits move the needle too.
Negotiation isn’t just about price. Depending on market conditions, you can often negotiate seller-paid closing costs, a home warranty, repairs after inspection, or the closing date itself. A Contract-Ready Approval gives you real leverage here. Sellers take stronger financing seriously, and that can matter as much as the number on your offer.
Tip: Ask your agent what's actually negotiable in your specific market. It varies more than people think.
Step 08 · Closing Timeline
From accepted offer to keys, in about 30 days.
You'll know your cash-to-close number well before signing day.
Once you’re under contract, most closings take roughly 30 days, though some can happen sooner. During that time, your home gets appraised and inspected, your file goes through final underwriting, and you’ll get your Total Cost Worksheet and Loan Estimate to review, obtain insurance, and do a final walkthrough before signing. Knowing what’s coming and when keeps this part of the process from feeling like a black box.
- Offer Accepted
- Inspection
- Appraisal
- Final Underwriting
- Review Costs / Loan Estimate
- Insurance
- Final Walkthrough
- Closing
Tip: We'll walk you through this timeline in detail the moment you're under contract, so nothing catches you off guard.
Ready to start?
Getting pre-approved gives you a clearer picture of your budget and what comes next.