The Mortgage Process: A Guide for First Time Homebuyers

Buying your first home is exciting - but the mortgage process for first time homebuyers can feel overwhelming.  A clear, stress-reducing roadmap - plus today's zero-down options (VA, USDA, CalHFA, and FHA with a 3.5% institutional second).

Buying your first home is exciting - but the mortgage process can feel overwhelming. What would change for you if you had a simple, step-by-step plan that kept everything on track? That's exactly what you'll find below.

Step 1: Mortgage Process Tips for First Time Homebuyers

Know where you are on these topics:

1.  What is your RMCR or Residential Mortgage Credit Score?
2. What are your current and debt-to-income (DTI) for the home you want?
3. What is available for your down payment and closing costs? T
4. Learn how these decide your buying power and loan choices.
5. What would it do for your confidence to know these numbers before you shop?

Step 2: Explore Your Mortgage Options

1. Not every loan is the same.  What can you actually afford to purchase?
2. Which of these fits your goals best - payment stability, lower upfront rate, or flexible qualification?

Step 3: Zero Down & 100% Financing Options

Is the down payment your biggest hurdle? These programs can reduce - or even eliminate - it:

• VA Loans (0% down): For eligible veterans, active-duty, and qualifying spouses; no monthly mortgage insurance. Learn more.
• USDA Loans (0% down): For eligible rural/suburban areas and income limits. Learn more.
• CalHFA: Down payment & closing cost assistance for California buyers. Learn more.
• FHA + 3.5% Institutional Second: Pair FHA with a second mortgage to cover the 3.5% down payment. Learn more.

Step 4: Get Pre-Approved

Would knowing your exact budget make shopping less stressful? A strong pre-approval signals to sellers that you're serious and ready to close.

Step 5: Find Your Home & Lock Strategy

With a price range and payment plan in hand, partner with a trusted agent to identify homes fast. We'll coordinate your rate-lock timing to fit your offer window and market conditions.

Step 6: Complete the Loan Process

This includes underwriting, conditions, appraisal, and final loan docs. Staying responsive keeps your timeline on track.

Step 7: Close & Get the Keys

At closing you'll sign, fund, and get your keys. What will it feel like when you unlock the door to your first home?

Final Thoughts

The mortgage process doesn't have to be confusing. With the right guidance, it becomes simple and empowering. When someone you know is ready to buy, sell, or refinance, will you introduce us?

Disclaimers: Program availability, income/area caps, credit, DTI, and property requirements apply. Not all borrowers will qualify. First Capital Mortgage Inc., NMLS 2228346. Steve McNeal NMLS 256426. Equal Housing Lender.