First Time Home Buyer

  • You’re not alone! Start with a free consultation. We’ll talk about your goals, timeline, budget, and what it takes to get pre-approved for a loan. There’s no obligation. Just an honest conversation about what you’re looking for. Once we understand your needs, we’ll guide you through the entire process step by step.

  • Pre-approval means a lender has reviewed your financial information and determined how much you can borrow. It shows sellers you’re serious and puts you in a competitive position when making an offer. I’ll connect you with a loan officer who will walk you through the process.

  • Down payment requirements vary by loan type. Some first-time buyer programs allow as little as 0-5% down, while others may require more. This is something we’ll discuss with your lender during pre-approval.

  • Closing costs are fees associated with finalizing your home purchase, typically 2-5% of the purchase price. These include appraisal fees, title insurance, attorney fees, and more. Your lender will provide an estimate upfront so there are no surprises at closing.

  • Most loan programs start around 620, but higher scores mean better rates. FHA loans are more flexible with credit scores, while conventional loans typically prefer 680 or above. The VA doesn’t set a minimum credit score, but lenders do; many accept 580 and higher with compensating factors like stable employment and residual income. If you have less than perfect credit, don’t assume you’ll be denied. Work with a lender who can review your complete financial picture, not just your score.

  • On average, home buyers spend between 10 and 30 days searching for a home, then an additional 15 to 45 days to close after their offer is accepted. The total timeline from search to closing typically runs 30-90 days. The exact timeline depends on your lender’s underwriting speed, inspection timeline, and market conditions. Having pre-approval before you start shopping will speed things up significantly.

  • Pre-qualification is a quick, informal estimate based on self-reported financial information, with no credit check required. Pre-approval is much more thorough. It involves a full application, credit pull, and documentation verification, resulting in a conditional commitment letter from your lender. Sellers prefer pre-approval because it shows you’re serious and have financing lined up. In competitive markets, pre-approval is essential to make your offer stand out.

  • Yes. Having less than perfect credit doesn’t automatically disqualify you. Many lenders work with borrowers who have credit challenges. FHA loans accept credit scores as low as 580 with 3.5% down, or 500 with 10% down. VA loans accept borrowers with lower credit scores if they demonstrate strong compensating factors. The key is finding a lender who looks at your entire financial picture, not just your credit score.

Veteran & Military Families

  • Often, yes. Many eligible veterans with full VA entitlement can purchase with no down payment. You may still pay some closing costs and a one-time VA funding fee (unless you’re exempt), but the down payment itself is not required. First-time VA buyers close with as little as $1,500 to $3,000 in out-of-pocket costs when seller concessions cover closing fees. Some borrowers choose to make a down payment to reduce their monthly costs, but it’s not required for most.

  • The VA itself doesn’t set a minimum credit score — it’s lenders who do. Many look for about 620 for smoother automated approvals, but some accept lower scores if your income, residual income, and recent payment history are strong. Veterans with credit scores below 580 may still be eligible through manual underwriting, where a VA underwriter evaluates your complete financial picture — stable employment, residual income exceeding VA minimums, on-time rental payment history, and documented savings — rather than declining based on a number alone.

  • The VA funding fee is a one-time fee (2.15% on first use with no down payment) that replaces the need for private mortgage insurance. It protects VA loans for future veterans by helping keep the program solvent. Veterans receiving VA disability compensation, surviving spouses, and Purple Heart recipients are exempt from this fee entirely. Disabled veterans rated 10% or higher by the VA pay no funding fee. The fee can be rolled into your loan amount or paid at closing — ask your lender which option works best for your situation.

  • Yes, and most veterans don’t realize it. VA loans can be combined with down payment assistance (DPA) grants and first-time buyer programs offered by state housing finance agencies. State programs offer closing cost grants or forgivable second mortgages. Military-specific grants from organizations like Homes for Heroes offer closing cost assistance specifically for veterans. Local city and county programs may offer $5,000 to $15,000 in closing cost or repair assistance.

  • A COE is the document your lender needs to confirm you qualify for a VA loan based on your service history and duty status. Eligibility depends on your length of service, service period (wartime or peacetime), and character of discharge. Active duty service members typically need 90 continuous days of service. Veterans’ requirements vary by when and how long they served. You can request a COE online through VA.gov, ask your lender to submit an application for you, or fill out VA Form 26-1880. Once issued, a COE can be reused for future VA loan applications.

  • No. VA loans skip private mortgage insurance entirely — one of the biggest advantages over conventional loans. VA loans also typically offer competitive interest rates (often 0.25 to 0.50 percentage points below comparable conventional loans) and cap what lenders can charge in origination fees. Conventional borrowers who put down less than 20% pay PMI, often $100 to $300 per month on a median-priced home. Veterans with VA loans avoid this cost entirely, making VA financing one of the most powerful homeownership benefits available.

New Construction

  • A ground-up build usually takes around six months, though material shortages, weather, and permits may extend it. Some builders currently report 7 to 9 month timelines due to supply chain factors. The timeline varies based on the stage at which you contract — a move-in-ready inventory home closes much faster than a home starting from dirt. Always ask your builder for an estimated schedule from groundbreaking to closing, and understand known risks like weather-dependent phases.

  • Yes. Builders often have flexibility on pricing, especially if the market is slower or you’re buying early in a development. You can negotiate the price, builder incentives (like mortgage rate buydowns), included upgrades, or closing cost assistance. In today’s market, 61% of builders offered sales incentives in 2025, with mortgage rate buydowns being the most popular.

  • An inventory home is builder-selected and either pre-built or under construction. The builder has already made the design choices, and you get it move-in ready. Builders are typically more negotiable on inventory homes. A custom home is built to your specifications on your land or a builder lot. You choose the floor plan, finishes, and features, but construction takes longer (typically 6+ months) and costs more. Semi-custom homes split the difference — limited design selections, faster than full custom.

  • Standard features vary by builder and floor plan, so always ask for a list of what’s included in the base price. That gorgeous kitchen backsplash in the model home? Probably a $3,000+ upgrade. Premium appliances, stone countertops, and designer lighting are often upgrades too. Ask your builder for a base price spec sheet showing what actually comes standard.

  • When you buy a new construction home in a community, the builder typically carries the construction loan. You place a deposit (earnest money) and close on a traditional mortgage once construction is complete. If you’re building on your own land, you’ll need a construction loan — a short-term loan that funds construction phases and converts to a permanent mortgage at completion. Construction-to-permanent loans handle that transition automatically. If you’re buying a spec or semi-built home, you likely won’t need a construction loan at all.

  • Your choices depend on when you contract. If construction hasn’t started or is very early, you may have more design selections for flooring, cabinetry, paint, countertops, and layout options. The earlier you commit, the more choices you have; later in construction, fewer selections remain. Ask your builder about included finishes versus upgrade options, layout tweaks, and whether they offer smart home packages or energy-efficient upgrades. Customization often adds to the price, but a few carefully chosen upgrades — better insulation, or a work-from-home-ready layout — pay off over time.

The Home Buying Process

  • Once your offer is accepted, you move into the “pending” phase. Your lender begins underwriting to finalize your mortgage. You’ll schedule a home inspection, usually within 7 to 10 days, and if issues are found we’ll negotiate with the seller. An appraisal is ordered to confirm the home’s value matches your purchase price. You’ll also do a final walkthrough 24 hours before closing to confirm any agreed-upon repairs are done and the home is in the expected condition. Avoid making big financial changes during this period — don’t finance a car or open new credit.

  • A home inspection is an objective assessment of the home’s condition, performed by a licensed professional. They examine the structure, foundation, roof, HVAC, plumbing, electrical systems, and more. While a VA appraisal checks minimum property standards, a home inspection goes deeper — it protects you by identifying defects you might never see. If issues are found, you can negotiate repairs, request credits, or ask the seller to fix them before closing. Inspections typically cost $400 to $600 and are highly recommended, even on new homes.

  • In Texas this is your option period, typically 7 to 10 days after your offer is accepted, though the length is negotiable. During this window you hire an inspector to examine the property. If major issues turn up, you can request repairs, closing credits, or a price reduction — and you can walk away entirely. It is your single biggest point of leverage in the whole transaction, so use it wisely. If nothing significant is found, simply let the period expire and move forward.

  • An appraisal is an independent assessment of the home’s value. Lenders require it to make sure the home is worth what you’re paying. An appraiser examines the property, analyzes comparable sales, and provides a written value opinion. If the appraisal comes in below your purchase price, you have options: renegotiate the sales price, request a Reconsideration of Value based on new comparable sales data, or cover the difference at closing. Appraisals typically take 7 to 10 days and cost $600 to $800, usually paid by you, though sometimes the seller contributes.

  • Closing costs are the fees paid at the final step of your purchase, typically 2% to 5% of the loan amount. On a $300,000 loan that’s $6,000 to $15,000. They include lender origination fees, appraisal, title insurance, attorney fees, credit report fees, property taxes, prepaid homeowners insurance, and more. Your lender must give you a Closing Disclosure at least 3 business days before closing that details every cost. In a buyer’s market you can ask the seller to cover a portion as a concession — that’s often easier to negotiate than a headline price cut.

  • Closing day is when everything becomes official. Your lender gives you a Closing Disclosure at least 3 business days beforehand — read it carefully. At closing you’ll review and sign the loan documents, sign the deed of trust, and transfer funds. The seller signs the transfer documents. Title passes, the loan is funded, keys are handed over, and you officially become a homeowner. Closing usually happens at a title company, escrow office, or attorney’s office. Plan on 1 to 2 hours, and bring a valid ID plus anything else your lender asked for.

Financing & Affordability

  • This has two answers: what a lender will approve you for, and what you should comfortably spend. Lenders use your debt-to-income ratio to set the maximum, but qualifying for a number doesn’t make it comfortable. A general guideline: keep your monthly housing costs — mortgage, property taxes, insurance — to no more than 28% to 30% of your gross monthly income. Budget for maintenance (1% to 2% of home value annually), property taxes, homeowners insurance, HOA fees if applicable, and utilities. And don’t spend your entire down payment savings — keep 3 to 6 months of expenses in reserve.

  • Your DTI is your total monthly debt obligations divided by your gross monthly income, expressed as a percentage. Lenders typically want housing expenses below 28% of gross income and total monthly debt below 36% to 43%. For example: if you earn $5,000 per month gross and carry $1,500 in existing debts plus a proposed $1,200 mortgage payment, your total is $2,700 — a 54% DTI, which is likely too high. If your proposed housing lands at 28% to 30% and total debt at 36% to 43%, you’re in a comfortable range for both the lender and your own budget.

  • PMI protects the lender if you default, and it’s required on conventional loans with less than 20% down. It costs roughly 0.5% to 1% of the loan annually. On a $280,000 loan with 10% down, PMI might run $117 to $234 per month. You can avoid it by putting 20% down or using a VA loan, which has no PMI at all. On conventional loans you can remove PMI once you reach 78% loan-to-value through appreciation or extra payments, but that takes time. Some lenders offer lender-paid mortgage insurance, rolling the cost into your interest rate instead — ask which option is better for your situation.

  • Maybe. One point equals 1% of your loan amount, paid upfront at closing, and lowers your rate by roughly 0.25%. On a $350,000 loan, one point costs $3,500. If that drops your rate from 6.75% to 6.50%, you save about $58 per month, so you break even at roughly 60 months — five years. If you plan to stay in the home past that, buying points makes financial sense. If you might sell or refinance sooner, keep your cash. Always ask your loan officer to run a side-by-side comparison before you decide.

  • A fixed-rate mortgage keeps the same interest rate for the entire loan term, typically 15 or 30 years, so your payment is predictable. An adjustable-rate mortgage (ARM) starts with a lower fixed rate for 5, 7, or 10 years, then adjusts annually based on market indexes. A 7/1 ARM is fixed for 7 years, then adjusts yearly. ARMs make sense if you plan to sell or refinance before the rate adjusts, and in a higher-rate environment they can offer meaningful upfront savings — but always model the worst-case rate cap before committing. Fixed-rate is the safer choice if you plan to stay long term.

  • Don’t give up. Plenty of lenders work with borrowers facing credit challenges, self-employment income, past bankruptcies, or other complications. FHA loans accept credit scores as low as 580. VA loans don’t require a specific credit score and use manual underwriting to evaluate your full financial picture. Conventional loans require higher scores, but some lenders have flexible overlays. Be prepared to explain your situation upfront and show compensating factors: stable employment, strong savings, on-time rental history, or solid residual income. Working with a lender experienced in complex situations is often the difference between a denial and an approval.

Offers & Negotiations

  • Most buyers can negotiate 1% to 10% off asking price, with leverage varying by market conditions. In a buyer’s market, where more homes are for sale than there are buyers, you typically have room to offer 5% to 10% below asking. In a seller’s market, offers at asking price are common. The biggest leverage signal is days on market: homes listed 60+ days usually signal a motivated seller, while homes under 14 days rarely discount. Use comparable sales to back up your offer — data-driven offers based on recent similar sales are much harder to dismiss than opinions.

  • Price is just the headline number. You can also negotiate closing costs (the seller covering a portion), repairs (fixes or credits for issues found in inspection), appliances and fixtures (refrigerator, washer and dryer, window treatments), the closing timeline, the earnest money amount, and the length of the option period. In today’s market, some of the best deals are structured around concessions and terms rather than sticker price alone. A seller who won’t budge on price will often agree to pay closing costs or give repair credits.

  • It depends on the market. In a buyer’s market, absolutely ask. In a competitive seller’s market, you may get less traction. Closing costs typically run 2% to 5% of the loan amount, so on a $300,000 purchase that’s $6,000 to $15,000. If the seller won’t reduce the asking price, they’ll often cover closing costs as a concession to close the sale faster. Never pass up the chance to negotiate this — many sellers expect it.

  • Get pre-approved before you start house hunting — that part is essential. Then make a strong, competitive offer backed by data, using comparable sales that show real market value. Limit unnecessary contingencies to strengthen your position. In hot markets, consider flexibility on your option period or closing date if the seller has specific needs. Show that you’re a serious buyer who can close on schedule. If you can afford it, earnest money above the standard amount signals confidence. I can also share your personal story with the listing agent when it fits — sellers are more likely to work with buyers they feel good about.

  • Earnest money is a deposit, typically around 1% of the purchase price, that shows the seller you’re serious. It’s held in escrow and applied to your down payment at closing. On a $300,000 home, that might be $3,000. If you back out for a valid reason — inspection issues, appraisal problems, financing denial — you get it back. If you walk away without cause, you lose it. In competitive markets, offering more than the standard amount can make your offer more attractive and signals real confidence.

  • Yes. If the inspection reveals issues, you have leverage. You can ask the seller to repair them, provide a credit at closing toward repairs, or reduce the price. If major issues turn up — roof, foundation, HVAC — this is your biggest negotiating moment of the entire transaction. Ask your inspector directly: what are the top three issues, what’s normal wear, what should I push to negotiate, and what should I plan to fix after moving in? Use that to prioritize. Some repairs are deal breakers; others can wait. An experienced agent knows how to run this conversation so you get fair concessions without killing the deal.

Ready to Start Your Journey?

Have a question that isn’t answered here? Reach out. I’m always happy to talk through your specific situation.

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