Top 10 Tips for First-Time Homebuyers

1) Set a Payment-Based Budget (not just price)

List your comfortable monthly payment first (PITI + HOA). We reverse-engineer price from that target and current rates, then keep you inside popular search brackets.

Deliverable: a Payment-to-Price Matrix at ±0.25–0.50% rate scenarios.

2) Check & Strengthen Your Credit

Pull your reports, dispute errors, and automate on-time payments. Lower card balances to improve utilization before underwriting.

Pro tip: avoid opening new credit between pre-approval and closing.

3) Get Fully Pre-Approved (not just pre-qualified)

A full underwrite (docs reviewed) sharpens your budget and strengthens offers. We’ll compare lenders on APR, fees, points, and lock options.

Bring: W-2/1099, pay stubs, two months’ statements, ID, and gift letters if applicable.

4) Define Must-Haves vs. Nice-to-Haves

Rank bed/bath, yard, commute max, school needs, single-story vs. two-story, garage spaces, and HOA tolerance. Keep your top 5 visible during tours.

5) Explore First-Time Buyer Programs (if eligible)

Look into down-payment and closing-cost assistance and loan products that fit your scenario. We’ll align program rules with your timing and budget.

6) Work with a Local, Full-Time Agent (hi 👋)

We map your 3-neighborhood shortlist, set tour routes, flag pitfalls (foundation, flood, easements), and craft terms that win without overspending.

7) Be Offer-Ready & Move Quickly

Great homes draw traffic the first weekend. Have your pre-approval, proof of funds, and signed disclosures ready; we’ll tailor earnest/option money and timelines.

8) Don’t Skip the Inspection—Use It Strategically

Hire a licensed inspector; add specialty checks (HVAC, roof, sewer) as needed. We use findings to negotiate repairs or credits that protect your budget and timeline.

9) Understand Appraisals & Financing Hurdles

If the appraisal comes in low, we’ll weigh price changes, gap coverage, seller credits, or re-runs. Keep communication tight between agent, lender, and title.

10) Close Smoothly & Plan the Move

Order insurance early, confirm utilities, set mail forwarding, and schedule movers. On closing day: bring ID, review the disclosure, sign, celebrate.

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Collin County Notes

• McKinney / Allen: established streets; compare commute via US-75/SH-121.
• Frisco: DNT/121 corridor; amenity-rich master-planned communities.
• Prosper / Celina: strong new-construction options along US-380; compare builder incentives vs. resale.
• Melissa / Fairview: larger lots or quieter pockets; confirm HOA/CCR rules.

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FAQs

1. How much do I need for a down payment?
   It depends on loan type and your goals; we’ll model options alongside your monthly target.
2. Should I buy new construction or resale?
   We compare net monthly with builder incentives vs. resale location/value.
3. How long does buying a home take?
   Typically 30–45 days from contract; faster with full pre-approval and clean title.
4. What happens after the inspection?
   We request repairs or credits and adjust timelines if needed.
5. Can I use gift funds?
   Often yes—your lender will specify documentation and timing.
6. What’s the first step?
   Book a 15-minute consult; you’ll get a Payment-to-Price Matrix and a 3-neighborhood shortlist.