First home, clear plan
Buying your first home can feel like learning a new language while making one of your biggest financial decisions. You do not need to know every term on day one. You do need a reliable budget, a lender who explains the numbers, time to review documents, and a process for asking questions.
Build a complete budget—not just a down payment
Plan for the down payment, lender and escrow charges, inspections, appraisal, insurance, prepaid taxes and insurance, moving expenses, utility deposits, immediate repairs, and an emergency reserve. Your actual costs depend on the loan, property, contract, and service providers. Ask your lender for a written estimate and ask escrow for an updated estimate as the transaction develops.
Monthly ownership costs can include principal, interest, property taxes, homeowners insurance, mortgage insurance, HOA dues, special assessments, utilities, routine maintenance, and occasional major repairs. A payment that fits only when everything goes perfectly may be too tight.
Explore loan programs and assistance carefully
Ask lenders about conventional, FHA, VA, USDA (where eligible), and other available loan options. Some state, local, employer, or nonprofit programs may offer down-payment or closing-cost assistance to qualified applicants. Availability, funding, income limits, purchase-price caps, occupancy rules, education requirements, and repayment or lien terms can change. Confirm current program details directly with the program administrator and lender before relying on assistance in an offer.
Compare written Loan Estimates using the same loan amount, property-tax estimate, insurance assumption, and rate-lock period. Ask whether the rate is locked, how long it lasts, and what could change before closing.
Understand inspections and disclosures
Review the seller's disclosures, preliminary title report, natural-hazard information, and any HOA or community documents that apply. Consider a general home inspection and additional specialists where appropriate—for example roof, sewer, septic, pest, chimney, pool, foundation, HVAC, or solar. Ask about permits for additions and converted spaces. Reports describe what the professional observed within the scope of the inspection; no inspection can promise that every hidden or future issue will be identified.
Protect your timeline and your money
- Read the purchase agreement and understand every deadline before signing.
- Do not waive or remove contingencies without understanding the risks and getting appropriate professional guidance.
- Send deposits only using independently verified escrow instructions. Confirm wiring instructions by calling a known, trusted phone number—not a number supplied in a suspicious email.
- Do not open new credit or make major financial changes without first speaking to your lender.
- Keep copies of disclosures, reports, receipts, loan estimates, and closing documents.
Helpful official resources
The California Department of Real Estate provides a First-Time Homebuyer guide and homebuyer information. Ask your lender or program administrator to verify current assistance eligibility and funding.
Ask me about your first purchase
Program details and eligibility change. This page is general education, not a loan approval, legal opinion, or promise of assistance.