Many first-time buyers assume they need 20% down, but that's often not the case. Conventional loans can require as little as 3-5% down, and programs like FHA loans may allow down payments as low as 3.5%. Some buyers may even qualify for zero-down options through VA or USDA loans. The right amount for you depends on your loan type, credit profile, and how much you're comfortable putting down. We're happy to walk you through the options and connect you with a trusted lender to find the best fit.

Pre-qualification is a quick, informal estimate of what you might be able to borrow, based on information you self-report to a lender. Pre-approval is a more thorough process where the lender verifies your income, assets, and credit, resulting in a conditional commitment for a specific loan amount. When you're ready to start touring homes and making offers, pre-approval is what sellers want to see — it shows you're a serious, qualified buyer and can make your offer more competitive.

It varies by loan type. Conventional loans typically look for a credit score of 620 or higher, while FHA loans may accept scores as low as 580 (or even lower with a larger down payment). A higher credit score generally helps you qualify for better interest rates, which can save you significantly over the life of the loan. If your credit needs some work, it's still worth talking to a lender early — they can help you build a plan to get mortgage-ready.

Beyond your down payment, plan for closing costs, which typically run 2-5% of the purchase price and cover things like appraisal fees, title insurance, and loan origination fees. You'll also want to budget for a home inspection, moving expenses, and an emergency cushion for those first-year surprises every new homeowner encounters. Your agent and lender can give you a detailed estimate early in the process so there are no surprises at the closing table.

From your first pre-approval conversation to closing day, most first-time buyers can expect the process to take about 30 to 60 days once an offer is accepted, though house hunting itself can take anywhere from a few weeks to several months depending on the market and your criteria. Working with an experienced agent can help you move efficiently through each step, from search to offer to closing.

Having a knowledgeable agent in your corner is one of the best ways to protect your interests as a buyer — from finding the right homes and negotiating price to navigating inspections and paperwork. In most transactions, the buyer's agent is compensated by the seller as part of the deal, so working with an agent typically comes at little to no direct cost to you. We're always happy to explain exactly how this works during a no-obligation consultation.