Buying your first home feels complicated because nobody ever showed you the playbook. Here it is — the myths, the math, and your first three moves — all on one page, in plain English.
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Conventional loans start at 3–5% down and FHA at 3.5%. On a $400,000 home that’s $14,000–$20,000 — not $80,000. The 20% number is about avoiding mortgage insurance, not about permission to buy. And qualifying buyers may stack down payment assistance on top.
FHA works with scores many would call average, and conventional opens up in the mid-600s. Even if your score needs work, that’s a strategy conversation, not a rejection — a few targeted fixes can move a score meaningfully in months.
Waiting costs rent, lost equity, and rising prices — the bill nobody itemizes. Today’s buyers use 2-1 buydowns and seller credits to beat the rate now, and refinance if rates fall later. The house is the marriage; the rate is just the date.
The part paying down what you borrowed — this is you buying your own equity instead of your landlord’s.
The cost of borrowing the money — biggest early on, shrinking every year.
Property taxes, split into 12 and collected monthly so there’s no year-end surprise.
Homeowner’s insurance (plus mortgage insurance when applicable) — protecting the roof over the whole plan.
When I quote you a payment, I quote all four — the real number you’d live with. Want to play with the numbers yourself right now?
No documents, no commitment — just your situation, your goals, and an honest read on where you stand. If you’re 6 months away, you leave with the 6-month plan. If you’re ready now, we move.
A short document checklist, a real review, and out comes your true budget — plus a pre-approval letter that makes sellers take your offer seriously. This is the step that turns “looking” into “buying.”
You + your agent + me, coordinated: offer strategy, seller-credit plays like the 2-1 buydown, and a payment you’ve already stress-tested. Then the fun part — here’s exactly what happens after your offer is accepted.
Fifteen minutes on Zoom: your rent vs. your buying power, your real down payment number, and the exact next step — whether that’s this month or six months out. No documents needed. No pressure. Just the playbook, personalized.
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Almost certainly less than you think. Conventional loans start at 3–5% down and FHA at 3.5% — and qualifying first-time buyers may have access to down payment assistance programs on top of that. The 20% figure is about avoiding mortgage insurance, not about being allowed to buy.
No. FHA financing works with scores many people would call “average,” and conventional options open up in the mid-600s. Even if your score needs work, the right move is a strategy conversation now — sometimes a few targeted fixes move a score meaningfully in a couple of months.
Four pieces, remembered as PITI: Principal (paying down the loan), Interest (the cost of borrowing), Taxes (property taxes, escrowed monthly), and Insurance (homeowner's, plus mortgage insurance when applicable). When I quote a payment, I quote the whole thing — no surprises at closing.
A pre-approval is a lender's real review of your income, credit, and funds — it tells you your true budget and shows sellers you're serious. House shopping without it is window shopping. It typically takes one short conversation plus a few documents, and mine comes with a full game plan.
Waiting has a cost nobody calculates: rent paid, equity not built, and prices that historically don't wait. Between 2-1 buydowns, seller credits, and the refinance option if rates fall later, today's buyers have real tools — that's exactly what the strategy session is for.
The strategy session, the pre-approval, and the game plan cost you nothing. I'm paid through the transaction when your loan closes — my job between now and then is making sure you walk in prepared and walk out with keys.