First-Time Buyer Guide

If this is your first time buying a home, you're probably hearing a lot of unfamiliar terms — escrow, contingencies, NHD reports, earnest money — and wondering how anyone keeps track of it all. The truth is, you don't have to. That's our job. But it does help to walk in with a general sense of what's ahead.

Common First-Time Buyer Questions

• How much do I actually need for a down payment? It depends on your loan type — some programs allow as little as 3-3.5% down, while conventional loans without mortgage insurance typically require 20%.
• What's earnest money, and do I get it back? Your earnest money deposit shows the seller you're serious. If you cancel for a reason your contract allows (like an inspection issue or financing falling through within your contingency period), it's typically refundable. If you cancel after removing contingencies without a valid contractual reason, you may forfeit it.
• How long does the whole process take? From an accepted offer to closing, most transactions take 30-45 days, depending on financing and any negotiated repairs.
• Do I need a home inspection if the house looks fine? Yes — always. Issues like outdated electrical systems, slow leaks, or pest damage are often invisible to an untrained eye.

Mistakes First-Time Buyers Often Make

• Skipping pre-approval and falling in love with a home before knowing their real budget.
• Underestimating total monthly costs by focusing only on the mortgage payment and forgetting property taxes, insurance, and HOA dues.
• Waiving inspections to seem more competitive in a multiple-offer situation without fully understanding the risk.
• Making large purchases or opening new credit accounts during escrow, which can jeopardize loan approval.

How We Help First-Time Buyers Specifically

We take extra time with first-time buyers to explain each step before it happens, not after — so you're never signing something you don't fully understand. Our goal isn't just to get you into a home; it's to make sure you feel confident and informed throughout the entire process.