First-Time Home Buyer Guide

Buying your first home is one of the biggest milestones of your life. This guide will walk you through every step of the process so you feel informed, prepared, and confident.

Preparing to Buy

✔ Check Your Credit Score

Aim for 620+ for conventional loans, but FHA loans may allow lower.
Better credit = better interest rate.
Check Your FICO® Score for Free

✔ Save for Down Payment & Closing Costs

Typical down payment: 3%–20%.
Closing costs: 2%–5% of the purchase price.

✔ Create a Budget

Factor in mortgage, taxes, insurance, HOA, utilities, and maintenance.
Keep your monthly housing cost under 30% of your income.

Down Payment Assistance for First-Time Home Buyers

One of the biggest challenges for first-time buyers is saving enough for a down payment. The good news? There are many Down Payment Assistance (DPA) programs designed to help you achieve homeownership sooner.

What is Down Payment Assistance?

Down payment assistance is financial help offered by state, local, and federal agencies (sometimes even nonprofits or your lender) to cover part of your down payment or closing costs.

Who Qualifies?

While requirements vary by state and program, most DPA programs are designed for:

First-time home buyers (usually defined as not owning a home in the last 3 years).
Buyers who meet income and purchase price limits.
Buyers who plan to use the home as their primary residence.
Completion of a homebuyer education course.

Next Steps

Ask your real estate agent or lender about available programs in your area.
Check your state housing finance agency (HFA) website. OSCEOLA ORANGE floridahousing
Research national programs such as FHA, VA, USDA loans with reduced down payment options.