RedHouse › Loan options › First-time home buyer
First-time home buyer
The programs, grants, and education that make a first purchase possible, in one place.
Who it's for
Anyone who hasn't owned a home in the last three years. That includes many people who've owned before.
How it works
- We start with a pre-approval so you know your price range before you shop.
- We check every down payment assistance program you qualify for, including state and local programs where available.
- Many programs require a short homebuyer education course; we'll tell you which one and how to take it online.
What you'll need
- A conversation. Most first-time buyers are closer than they think.
- Pay stubs, two years of W-2s, and two months of bank statements
- A credit report we pull once, with your permission
I start with budget first. We want to find something that works for your cash flow and doesn't stress you, a home that helps your long-term goals instead of hurting them.
Then I walk you through the three big numbers on any quote: the down payment, the cash to close, and the loan amount. Whether you work with me or someone else, those three let you compare apples to apples and see where the numbers come from. Then we bring it back to your budget and your monthly cash flow, and see what you can actually afford.
— Travis Pattengale, Loan Officer · NMLS 2847445
Common questions
How much do I need saved?
It depends on the program and the price. Between assistance programs, seller-paid closing costs, and gift funds, many first-time buyers close with far less cash than they expected. We'll show you the real number.
Does a pre-approval hurt my credit?
One mortgage inquiry has a small, temporary effect. Multiple mortgage inquiries within a short window count as one.
By design this page shows no rates, APRs, payments, or down-payment percentages. Those figures are only published with the full disclosure block required by Regulation Z.