First-time buyers
The whole process explained early, with each milestone and next step made clear.
Short answer
Buying your first home is a sequence, not a leap. Get your numbers reviewed first, shop with a real budget, and know your closing costs before you write an offer. I explain every step before it happens, so nothing at the closing table surprises you. Most first-time buyers need less cash than they think.
Who this is for
- Renters ready to find out what buying actually takes
- Households saving toward a down payment without a clear target
- Buyers who got a confusing preapproval letter and no explanation
- Anyone who wants the process explained before it happens, in plain English
What it takes to qualify
- Steady income and a credit history. Perfect credit is not the bar, and I will tell you exactly where you stand.
- Cash for a down payment and closing costs, with low and zero-down programs available for qualifying buyers, and gift funds from family commonly allowed.
- A monthly payment your real budget can carry. My number for you accounts for your life, not just the maximum a formula allows.
Private lender. Not affiliated with or endorsed by the U.S. Department of Veterans Affairs or any government agency.
How it works with me
A process you can see the whole way through
A Lamm Team call
Plain-English review of income, credit, and savings. You leave knowing the next numbers and documents to verify. No credit pull required to start.
Preapproval that means something
When you are ready, we document a preapproval sellers take seriously, and I stand behind it when listing agents call to check.
Offer support
Your agent and I coordinate on every offer so the financing terms make your bid stronger, not scarier.
A managed close
Weekly updates from my team, documents explained before you sign them, and a closing day with zero surprises. That is the standard.
What to know before you decide
The sequence that removes the fear
First, a numbers review: income, credit, savings, and what monthly payment actually fits your life. Second, a preapproval, so sellers take your offer seriously and you shop inside a real budget. Third, the search and the offer, where your agent and I coordinate so the financing side of your offer is a strength. Fourth, underwriting and the appraisal, which my team manages with weekly updates. Fifth, the closing table, where you sign papers you have already had explained. Every step gets walked through before it happens. That is the whole trick.
The cash question, answered honestly
The twenty-percent-down rule is a myth that keeps renters renting. Low down payment conventional and FHA options exist for qualifying buyers, VA and USDA offer zero-down paths for those who qualify, and gift funds from family are commonly allowed. The number people forget is closing costs, the lender, title, escrow, and prepaid items due at signing, which can sometimes be offset with seller credits we negotiate into the offer. On our first call you get a real cash-to-close picture across a few price points, so you are saving toward a target instead of a guess.
Rates and terms subject to change without notice. Not a commitment to lend. Not available in all states. This is not tax, legal, or financial advice. Consult a qualified professional for your specific situation.
Run your own numbers first
Start with the affordability calculator to turn your income and savings into a realistic price range, then bring it to our call.
Open the calculatorsRelated programs
First-time buyers: common questions
How much do I actually need for a down payment?
Usually less than you think. Low down payment conventional and FHA options exist for qualifying buyers, and VA and USDA offer zero-down paths for those who qualify. Twenty percent is not the entry price, it is just where mortgage insurance drops away. We find the down payment that fits your savings and your monthly budget together.
What are closing costs and how much should I plan for?
Closing costs cover the lender, title, escrow, and prepaid items like taxes and insurance, all due at signing. They vary with price and location, and seller credits negotiated into your offer can offset part of them. I give you a realistic cash-to-close estimate at several price points before you ever shop.
Should I get preapproved before looking at homes?
Yes, and do the numbers review even earlier. A preapproval tells sellers your offer is real and tells you your true budget, which saves you from falling for homes you would have to stretch for. Starting the conversation costs nothing and does not require a credit pull. Three minutes, no credit hit.
Will talking to a lender hurt my credit score?
The first conversation does not touch your credit. We review your situation and your numbers with no pull at all. When you are ready to move forward, a mortgage credit check has a small, temporary effect, and multiple mortgage inquiries within a short shopping window are treated as one. Do not let inquiry fear stall your start.
How long does buying a first home take?
From accepted offer to keys, commonly around thirty to forty-five days, driven by the contract and the loan type. The search before that takes as long as it takes. Getting your numbers reviewed and preapproved early means that when the right home shows up, your timeline starts strong instead of scrambling.
My credit is not perfect. Should I wait to buy?
Do not decide that alone, and do not decide it from a free credit app. Programs like FHA are built for imperfect credit, and sometimes a few targeted fixes move you into better pricing within months. On a short call I can tell you whether to buy now, fix first, or wait, and exactly why.
Fine-tune your First-time buyers plan
Send the property, purpose, timing, and numbers you already know. The email opens prefilled for this First-time buyers page so the review starts in the right lane.
MortgageOne Inc. is licensed for consumer mortgage lending in 41 states and Washington, DC. Chris Lamm is individually licensed in 19 states.