Your First Home, Minus the Mystery.
Most first-time buyers think they need 20% down and perfect credit. Neither is true. We’ll show you what you actually need, which programs fit your situation, and what your real monthly payment looks like — in plain English, before you fall in love with a house.
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What You Actually Need to Buy a Home
The 20% down myth keeps more renters renting than any interest rate ever has. Reality: conventional loans start at 3% down for qualifying first-time buyers, FHA at 3.5%, and VA and USDA at zero for those who qualify. On a $300,000 home, that’s $9,000–$10,500 — not $60,000.
Credit doesn’t need to be perfect. FHA guidelines allow scores down to 580 with the minimum down payment. Higher scores earn better pricing, and if you’re close to a threshold, we’ll tell you whether a few months of credit work would save you real money — or whether waiting costs more than it saves.
Help exists. Down payment assistance programs operate in all three of our states — including CHFA in Colorado and TSAHC and TDHCA programs in Texas — and family gift funds can cover your entire FHA down payment. We’ll check what you qualify for as part of pre-approval, at no cost.
Four Paths to
Your First Home
There’s no single “first-time buyer loan” — there’s a right loan for your credit, savings, and location. We compare all of them side by side.
Conventional 3% Down
Programs like HomeReady and Home Possible offer 3% down with reduced mortgage insurance for buyers within income limits. Mortgage insurance cancels once you reach 20% equity — a long-term cost advantage over FHA for stronger credit profiles.
FHA 3.5% Down
The most forgiving path on credit — 580+ for the minimum down payment, with the entire amount allowed to come from family gift funds. Often the best fit for thinner credit files or higher debt-to-income ratios. See our full FHA guide.
VA & USDA — $0 Down
Veterans and service members: the VA loan is usually unbeatable — nothing down, no monthly mortgage insurance. Buying in a USDA-eligible rural or outer-suburban area? USDA offers $0 down too. See our VA guide.
Down Payment Assistance
State programs — CHFA in Colorado, TSAHC and TDHCA in Texas, and Florida Housing programs — offer grants or second loans that cover some or all of your down payment, subject to income limits and qualification. We check every program you’re eligible for.
Pre-Approval First.
House Hunting Second.
The order matters. A pre-approval tells you your real budget, your real payment, and your real costs — before you’re emotionally attached to a kitchen. It also makes your offer credible: in competitive Texas, Colorado, and Florida markets, listing agents take pre-approved buyers seriously and dismiss the rest.
Ours is genuinely useful: we review your credit, income, and savings, then show you several price points with their actual monthly payments — principal, interest, taxes, insurance, and any mortgage insurance. No teaser numbers that grow later.
From pre-approval to keys, most first purchases close in 30–45 days once you’re under contract. We stay in the loop with your agent the whole way, and you’ll always know what’s happening and what’s next.
First-Time Buyer FAQs
Questions we hear from first-time buyers every day.
Ready to Stop Renting?
Start with a free pre-approval. We’ll show you your real budget, your real payment, and every assistance program you qualify for — no pressure, no jargon, no surprises.