FREE DOWNLOADABLE GUIDE

Download the first-time home buyer ebook.

Get a clear, practical roadmap covering budget, preapproval, loan choices, offers, appraisal, documents, and closing.

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First-time buyer answers

Questions buyers ask Jeff most

Do I need 20% down?

No. Several conventional and government-backed options may allow a smaller down payment for qualified borrowers. The right choice depends on credit, income, property, and cash reserves.

Prequalification or preapproval?

A prequalification is an early estimate. A preapproval involves a more complete review of income, assets, credit, and loan requirements before you shop.

What costs should I plan for?

Plan for the down payment, closing costs, prepaid taxes and insurance, inspection costs, and moving expenses. Seller or lender credits may help in some situations.

How long does closing take?

Many financed purchases close in roughly 30 to 45 days, but timing depends on the contract, appraisal, documentation, property, and loan program.

Reviewed by Jeff Lake, Mortgage Advisor, NMLS #972098, serving Idaho and Oregon through NEXA Mortgage, LLC, NMLS #1660690.

Questions? Talk directly with Jeff.Call 208-371-1508Text JeffUsually same day, always within one business day.
FIRST-TIME HOME BUYER GUIDE

Your first home should start with answers, not pressure.

A practical path from wondering whether you are ready to holding the keys, built for first-time buyers in Idaho and Oregon.

Before you shop

  • Review income, recurring debts, available savings, and credit.
  • Discuss a comfortable payment, not only the maximum approval.
  • Compare down-payment options, assistance programs, and cash reserves.
  • Get a documented preapproval before making an offer.

Once you find a home

  • Review the offer, earnest money, contingencies, and seller credits.
  • Complete inspections and understand what the appraisal does and does not cover.
  • Respond quickly to underwriting document requests.
  • Review the Loan Estimate and Closing Disclosure carefully.
You do not need 20% down to buy your first home. The right amount depends on the loan program, payment target, available savings, mortgage insurance, and the reserves you want left after closing.

Want to know how this fits your situation?

Jeff can help you compare the payment, cash required, qualification rules, and tradeoffs without turning the first conversation into a sales pitch.

Ask JeffRun the numbersBook a meeting

Choose your state-specific First-Time Buyer guide

Use the state page for focused search intent and local planning context, then return here for the broader program explanation.

First-Time Buyer guidance for IdahoFirst-Time Buyer guidance for Oregon