Your prep checklist
Start by checking your credit, paying down revolving debt (it improves DTI and credit), identifying your funds (savings, gift funds, assistance), and getting a pre-approval. "First-time" often just means no ownership in three years — many buyers qualify.
You don’t need 20% down or perfect credit. Programs allow 3–3.5% down, and California assistance (including CalHFA) can lower that further. The biggest mistake is assuming you can’t afford it and never checking.
Get pre-approved early
A pre-approval shows your real budget and makes your offers credible. We’ll also match you to every first-time program and assistance you qualify for, so you enter the market with every advantage.
Your step-by-step first purchase
Buying your first home follows a clear path. 1) Get pre-approved so you know your real budget and which programs fit. 2) If your program requires it, complete a short online homebuyer education course. 3) Shop with an agent and make offers backed by your pre-approval. 4) Under contract, the home is appraised and inspected. 5) Underwriting reviews your file, including any assistance. 6) You close and get the keys. Knowing the sequence removes the anxiety — and being pre-approved first makes your offers far more competitive.
First-time programs and assistance to know
You have more options than most first-timers realize. FHA allows 3.5% down with flexible credit; conventional goes as low as 3% down and lets you drop mortgage insurance later; VA offers 0% down for eligible veterans; and California’s CalHFA programs add down-payment and closing-cost assistance for buyers within income limits. Many of these can be combined. Because “first-time buyer” often just means you haven’t owned in three years, even past owners frequently qualify. We check every program you’re eligible for so you use every advantage.
Frequently asked questions
Do I need 20% down?
No — 3–3.5% down is common, and assistance can reduce it further. The 20% myth stops many buyers unnecessarily.
How much money do I really need to buy my first home?
Often far less than 20% — 3–3.5% down is common, and assistance can reduce that further, sometimes to near zero for eligible buyers.
Do I have to take a homebuyer class?
Only some assistance programs require it, and it’s a short online course. We’ll tell you if yours needs one and point you to it.
Am I still a first-time buyer if I owned before?
Often yes — many programs define it as not owning in the past three years.
When should I get pre-approved?
Early — before you shop. It sets your budget and strengthens your offers.
Save Financial, Inc. — NMLS #377740, DRE #01875766. Equal Housing Opportunity. Figures are illustrative for 2026 and not an offer of credit or a guarantee of rates or approval.