First-Time Home Buyers | The Mortgage Way

What you're worried about

The honest stuff first.

You've probably heard horror stories. I won't sugarcoat it — buying a home has moving parts. But here's what people actually stress about, and how it usually plays out:

I don't have 20% down.

Most first-time buyers don't. Programs exist for 3% down conventional, 3.5% down FHA, and 0% down for veterans. Down payment assistance can stack on top.

My credit isn't perfect.

Conventional loans start at 620, FHA at 580. If your credit's reasonable, there's a path. If it's not, I'll tell you exactly what to fix and when to come back.

I don't understand any of this.

That's literally my job. We'll start at zero. I explain things in plain English — no jargon dumps, no acronym soup.

What if I can't afford the home I want?

We'll find your real number BEFORE you fall in love with a house. Way better than the alternative — falling in love and getting denied.

Loan options

The programs first-timers actually use.

You don't need to memorize these — that's my job. But here's what's on the table:

Conventional

As little as 3% down. Best rates if your credit's strong. Standard for most first-time buyers.

FHA

3.5% down, credit scores from 580. More forgiving — popular when conventional doesn't fit.

Down Payment Assistance

Up to $25K toward your down payment. Some are forgivable, some you pay back later. Worth checking.

VA

If you've served — zero down, no PMI, the best deal in mortgages. See VA →

The path

What this actually looks like.

From "I'm thinking about this" to "I own a home." Here's the timeline:

We talk (30 min)

You tell me where you're at — income, credit, savings, when you want to move. I tell you what's possible and what to do next.

Pre-approval

I shop your loan, get you a real pre-approval letter, and tell you your actual budget. Now you can shop with confidence (and make offers sellers take seriously).

You find a house

This is the fun part — go look. When you find one, your agent writes the offer. I'm on standby to answer any "can I afford this?" questions in real time.

Under contract → close

Once your offer's accepted, I handle the lender side. Inspections, appraisal, underwriting — I keep you in the loop on what's needed and when. Typical timeline: 21-30 days.

Keys in hand

You sign a stack of paperwork at closing, get the keys, and we're done. Until you refinance someday — I'm still here for that too.

First-timer FAQ

Questions I get a lot.

How much do I really need for a down payment?

Less than you think. Conventional programs go as low as 3%. FHA is 3.5%. VA is 0%. On a $400K home, that could mean $12K-$14K out of pocket plus closing costs (which can sometimes be rolled in or covered by the seller). We'll figure out your specific number when we talk.

What credit score do I need?

620 for conventional, 580 for FHA. If your score is lower, don't panic — there are paths. And if you've got 700+, you'll get the best rates available. Either way, we'll talk through it.

How long does the whole process take?

From application to closing is typically 21-30 days once you're under contract. The "looking for a house" part is up to you — could be 2 weeks, could be 6 months. Either way, pre-approval is the first step.

What's the difference between pre-qualified and pre-approved?

Pre-qualified = rough estimate based on what you tell me. Pre-approved = I've actually reviewed your income, credit, and assets, and a lender has committed to lending. Always go for pre-approval — sellers don't take pre-quals seriously.

Can I get pre-approved before I find a house?

Yes — and you should. Pre-approval is good for 90 days (sometimes longer). You want it BEFORE you start looking, so you can move fast when you find the right place.

Your first home shouldn't feel like a second job.