Top mistakes: assuming you need 20% down, skipping assistance programs, not getting pre-approved first, and opening new credit mid-process.
Knowledge mistakes
The biggest one is believing you need 20% down or perfect credit — neither is true. Many first-time buyers also miss assistance they qualify for. We make sure you use every advantage.
Process mistakes
Shopping before pre-approval, or opening new credit and making big purchases mid-transaction, can derail your first purchase. Get pre-approved, then keep your finances steady through closing.
Frequently asked questions
Do I really not need 20% down?
Correct — 3–3.5% down is common, and assistance can lower it further. The 20% myth stops many buyers unnecessarily.
What’s the most common mistake?
Not exploring assistance and not getting pre-approved first. Both are easy to fix.
Can I switch jobs before closing?
Avoid it if possible — income changes mid-process can complicate approval. Tell us early if it’s unavoidable.
Save Financial is a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766). Figures are illustrative for 2026 and not an offer of credit.