First-Time Homebuyer Guide
Everything a first-time buyer needs — from pre-approval to closing day.
Everything a first-time buyer needs — from pre-approval to closing day.
- Buying your first home is the biggest financial decision most people ever make.
- Start with a pre-approval, not a pre-qualification.
- Budget for closing costs (typically 2–5% of the purchase price) in addition to your down payment.
- Compare programs.
What does this guide cover?
Buying your first home is the biggest financial decision most people ever make. This guide walks through the full path from getting pre-approved to signing at closing.
Start with a pre-approval, not a pre-qualification. A pre-approval means a loan officer has reviewed your credit, income and assets. Sellers take pre-approvals seriously; pre-qualifications get ignored.
Budget for closing costs (typically 2–5% of the purchase price) in addition to your down payment. Ask your loan officer for a Loan Estimate on a sample scenario so you see real numbers.
Compare programs. Conventional loans allow as little as 3% down. FHA allows 3.5% down with more flexible credit. VA is 0% down for eligible veterans. USDA is 0% down for eligible rural properties.
Lock your rate when you have a signed contract and are comfortable with the market. Your loan officer should proactively discuss when to lock.
Frequently asked questions
What is the first-time homebuyer guide about?
Everything a first-time buyer needs — from pre-approval to closing day.
What are the key points to know?
Buying your first home is the biggest financial decision most people ever make. This guide walks through the full path from getting pre-approved to signing at closing.
How does this work in practice?
Start with a pre-approval, not a pre-qualification. A pre-approval means a loan officer has reviewed your credit, income and assets. Sellers take pre-approvals seriously; pre-qualifications get ignored.
What should I do next?
Budget for closing costs (typically 2–5% of the purchase price) in addition to your down payment. Ask your loan officer for a Loan Estimate on a sample scenario so you see real numbers.
How can I talk to a NEXA loan officer about my situation?
Contact Renato Rodic (NMLS #1615600) via the Contact page or book a 1:1 call — he can review your specific scenario and walk you through the relevant NEXA loan program or onboarding path.
References
First-Time Homebuyer Guide. Ask About NEXA. https://askaboutnexa.com/guides/first-time-homebuyer. Last updated June 16, 2026.