Buying your first home is a major milestone — exciting, a little intimidating, and full of “what now?” moments. This guide is here to walk you through the process step by step, and will leave you feeling empowered (not overwhelmed). Whether you’re dreaming of your first condo, a starter home, or something in between, I’m here to help make your path to homeownership smoother — I’m Amber Shavers, a trusted Mortgage Loan Officer who helps first-time homebuyers just like you every day.
What Is A First-Time Homebuyer?
Good news: you don’t have to be fresh out of college to be considered a first-time buyer. If you haven’t owned a home in the past three years, many lenders and programs will still consider you a first-timer. That means you may qualify for special perks like down payment assistance, grants, and flexible loan options — even if you’ve owned before.
I can help you identify which of these benefits you qualify for. 💬 Schedule a free consultation with me and we’ll review your options together.
Step 1: Understand Your Budget
Before you dive into home tours or Zillow scrolls, take time to understand what you can comfortably afford.
Ask yourself:
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- What monthly mortgage payment fits my lifestyle?
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- How much do I have saved for a down payment, closing costs, and other upfront expenses?
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- What’s my current credit score and debt-to-income ratio?
It’s about more than just the mortgage — you’ll also want to factor in property taxes, insurance, utilities, and maintenance costs.
🔍 Want help crunching the numbers? I’ll walk you through your budget, explain your loan limits, and give you a realistic number to shop with. Contact me here.
Step 2: Get Pre-Approved
Pre-approval is your green light to shop. It shows sellers you’re serious, and it helps you know exactly what price range you can afford. Lenders like myself will require you to submit some documents and perform a hard credit check to get started. Don’t worry, being pre-approved for a mortgage won’t impact your credit score significantly. Without it, you’re house hunting blind.
Mortgage Pre-Approval Checklist:
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- Two years of W-2s
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- Tax Returns
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- Recent pay stubs
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- Bank statements
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- Valid ID
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- Social Security Number
Once you’re pre-approved, you’ll receive a letter with your estimated loan amount, interest rate, and terms — and it gives you serious credibility in a competitive market.
📩 Not sure where to start? I’ll guide you through the pre-approval process step-by-step and get you ready to shop with confidence. Let’s get you pre-approved. Contact me today.
Step 3: Explore First-Time Buyer Loan Options
Not all mortgages are created equal — and that’s actually a good thing. Each loan program has unique requirements, pros, and trade-offs, so it’s important to find the one that best fits your situation. Here’s a breakdown of the most common first-time buyer options and what you need to know about each one:
FHA Loans (Federal Housing Administration)
FHA loans are one of the most popular options for first-time homebuyers — and for good reason.
Key Features:
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Minimum 580 credit score (with 3.5% down)
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As low as 500 with 10% down
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Flexible debt-to-income (DTI) ratios
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Allows gift funds for down payment
Things to Know: FHA loans are often easier to qualify for than conventional loans.
Conventional 97 Loans
If your credit is solid and you’ve got at least a little saved, this is a great low-down-payment option.
Key Features:
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Just 3% down
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Minimum 620 credit score
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No upfront mortgage insurance (unlike FHA)
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PMI (Private Mortgage Insurance) can be canceled once you hit 20% equity
Things to Know: Stricter credit and income requirements than FHA, but often results in lower total loan costs over time for well-qualified buyers.
VA Loans (Department of Veterans Affairs)
This is a true benefit for our veterans, active-duty service members, and eligible surviving spouses.
Best For: Military members and veterans.
Key Features:
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0% down payment required
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No monthly mortgage insurance (huge savings!)
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Competitive interest rates
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Lenient credit requirements
Things to Know: You’ll need a Certificate of Eligibility (COE) from the VA. Some lenders may still impose overlays (stricter rules), so working with the right lender (like me!) is key.
USDA Loans (United States Department of Agriculture)
Think this is only for farmers? Think again — USDA loans are for buyers purchasing in eligible rural and suburban areas.
Best For: Buyers looking outside major metro areas with moderate-to-low income.
Key Features:
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0% down payment
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Competitive rates
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Low mortgage insurance costs
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Available for properties in USDA-eligible zones
Things to Know: Income limits apply, and the home must be in a designated rural area (you’d be surprised how many places qualify). There’s also an upfront and annual guarantee fee, but they’re much lower than FHA mortgage insurance.
Bonus: State and Local Assistance Programs
Most states and even some cities offer grants, forgivable loans, or down payment assistance just for first-time buyers. These can sometimes be layered with your main loan.
Best For: Buyers needing help with upfront costs or those who qualify for specific incentives.
Key Features:
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May cover part or all of your down payment/closing costs
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Often income-based
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Can reduce your out-of-pocket expenses significantly
Things to Know: These programs change often and have specific eligibility criteria — but I stay on top of them so you don’t have to.
💼 I’ll help you compare these options side-by-side, run the numbers, and choose the best loan for your goals. Let’s find your best-fit loan today. As a first-time buyer, you have more options than you might think.
Step 4: Work With A Real Estate Agent You Trust
Your agent is your guide, coach, and negotiator. They help you:
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- Find homes within your price range
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- Navigate open houses and private showings
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- Craft strong offers and handle paperwork
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- Negotiate inspections, repairs, and closing details
Why it matters: A good agent knows your market inside and out — and they can help you avoid overpaying or buying the wrong home for your lifestyle.
Need an agent? I work with an amazing network of realtors around the country. Message me and I’ll connect you with someone I trust.
Step 5: Start House Hunting
This is the exciting part — but it’s also where emotions can run high. That’s why you want to shop with a strategy:
Look for:
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- Floor plan that fits your daily life
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- Structural and mechanical integrity (roof, foundation, plumbing, HVAC)
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- Neighborhood factors like commute time, safety, schools, noise levels
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- Red flags like water damage, mold, foundation cracks
Don’t rush the process or fall for pretty staging — you want the right house, not just the right-now house.
🏠 Have questions while touring homes? I’m just a text away for guidance. Reach out anytime.
Step 6: Make An Offer & Negotiate
When you find “the one,” your agent will help you submit a competitive offer based on market trends and comps (comparable sales). Depending on the situation, you may be able to negotiate:
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- Purchase price
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- Closing costs (ask the seller to contribute)
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- Appliances or repairs
Once your offer is accepted, you’ll submit earnest money — a deposit showing you’re serious — and begin the closing process.
💬 Want help running the numbers on your offer or understanding how concessions work? I’m happy to walk you through it all. Let’s talk.
Step 7: Schedule a Home Inspection & Appraisal
Inspection: You’ll hire a licensed inspector to review the home’s condition. If major issues pop up, your agent can help you renegotiate or even walk away without penalty.
Appraisal: Ordered by your lender, the appraisal ensures the home is worth what you’re paying. If the value comes in low, we’ll work together to explore your options — whether that’s a new negotiation or a loan adjustment.
🛠 Not sure what to expect from inspections or appraisals? I’ll break it down in plain English and support you through every step.
Step 8: Close On Your Home
🎉 You’re almost there! Once the underwriter clears your file and you receive final loan approval, you’ll be ready to close.
Here’s what happens:
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- You’ll sign the loan documents (lots of them!)
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- Bring your down payment and closing costs via cashier’s check or wire
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- Receive the keys and officially become a homeowner
Quick Tip: Don’t make big financial changes (like quitting your job or buying a new car) before closing — even small moves can affect your loan.
🔑 I’ll coordinate with your lender, title company, and agent to make your closing as smooth and stress-free as possible. Let’s get you to the finish line.
Final Tips for First-Time Buyers
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- Ask questions! There’s no such thing as a silly one.
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- Stick to your budget, even if you’re tempted by “dream home” extras.
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- Save a little extra for moving costs, utilities, and minor repairs.
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- Stay patient — every delay is just part of the process.
Let’s Make Homeownership Happen
Buying your first home can feel overwhelming, but you don’t have to do it alone. With the right guide (hey, that’s me!) and a smart plan, you’ll be holding your new keys before you know it.
📩 Let’s talk about your homeownership goals — I’m Amber Shavers, your dedicated Mortgage Loan Officer, and I’m here to help you every step of the way. Book your free consultation today.
