First-Time Buyers
You can buy a home with little to no savings.
A lot of renters assume homeownership is years away, often because no one has shown them what's actually available. Chris and Kayvan track specialty lending programs so their buyers don't miss an opportunity they didn't know existed.
A place of your own
Renting vs. Owning
You might be closer than you think
If you've been renting and assumed buying is out of reach, you're not alone. You might be working from outdated assumptions: the idea that you need 20% down or spotless credit to qualify for a mortgage isn't true for everyone, and it isn't true for every loan program.
Lending has changed a lot in recent years, and programs get introduced regularly, some well-publicized, some not. Most agents leave financing entirely to whichever lender a buyer happens to find, so options like these can go unnoticed even by buyers who ask around. We make a point of staying current on programs like this so we can flag them for our clients before anyone rules themselves out too early.
One more thing worth saying: we've never had a buyer regret buying over renting once they'd actually done it. The buyers who do well don't try to time the market perfectly. They buy when they're ready, and when the right property or the right deal comes along, they move on it. That said, there are real seasonal patterns worth knowing about too, and we're happy to walk you through what they look like right now.
Find Your Path
Which path fits where you are?
Down payment size is the biggest thing that determines which financing options actually make sense for you. Tell us where you're starting from and we'll show you what's realistic, not a wall of every program that exists.
Which best describes you?
- Down Payment
- No Down Payment Options Available
- Mortgage Insurance
- Not Required
- Credit Score
- 600 Minimum
Eligible for:
- Single family residences
- Purchase or purchase with renovation of a primary residence
- 1–2 unit properties
- Condos
- Planned unit developments
- Co-op properties in select New York City boroughs (purchase only, not eligible with renovation financing)
Programs like this are generally available in eligible counties across states including Arizona, California, Connecticut, Florida, Indiana, Michigan, New Jersey, New York, North Carolina, Ohio, and Wisconsin. Coverage varies by county and by lender, so reach out and we'll check your specific area.
This kind of program isn't available to everyone, everywhere. The property must be located in a qualifying low-to-moderate income census tract, and the borrower(s) must meet income limits that vary by state and county. A homebuyer education course is required, and a rehab education course may also be required for purchase-with-renovation transactions.
- Down Payment
- As Low As 3.5%
- Assistance
- Grants & Gift Funds Often Allowed
- Credit Score
- More Flexible Than Conventional
Worth looking into:
- FHA loans, which allow as little as 3.5% down
- State and local down payment assistance programs, often structured as grants or second-mortgage loans
- Gift funds from family toward a down payment or closing costs, more often allowed than buyers realize
- Seller-paid closing cost credits, when a seller is willing to offer them
Seller credits aren't a guarantee. They're not available in every market or on every property, and how much a seller is willing to offer depends on the deal. That said, we do see them happen, and we've negotiated them for our buyers before, so it's always worth asking rather than ruling it out.
Availability, minimum credit scores, and assistance amounts vary by state, county, and lender, and can change without notice. Down payment assistance programs in particular are often limited by funding and income limits. Reach out and we'll check what's actually open in your area right now.
The short version: "not enough saved" is often an assumption, not a fact. A lot of buyers in this spot qualify for more than they think once assistance and gift funds are factored in.
- Full Down Payment
- Doesn't Always Mean Putting It All Down
- Extra Cash
- Could Stay Invested Instead
- Worth Doing
- A Real Side-by-Side Comparison
Having 20% or more saved puts you in a strong position, but it doesn't automatically mean putting it all down is your best move. A lower down payment loan can free up cash to keep invested, held as a reserve, or used toward renovations after you close, while you still get competitive terms. This isn't about talking you out of your plan; it's about making sure the plan you go with is actually the one that works best for your numbers.
Worth considering if:
- You'd rather keep cash liquid for investing, reserves, or renovations than tied up in home equity
- You want to compare your mortgage rate against what that cash could otherwise earn
- You assumed a smaller down payment always means a worse deal
- You just want to see the real numbers side by side before deciding
This isn't right for everyone. If a lower payment and no mortgage insurance matters more to you than liquidity, putting more down can still be the better call. The point isn't a single right answer. It's making sure you've actually seen the comparison before deciding.
Rates, payments, and program availability vary and change daily, and depend on your individual qualifications and the lender or program you work with. Rather than publish numbers that are already out of date by the time you read this, reach out and we'll connect you with our lender to get real numbers for your specific situation.
Get Connected
Talk to Our Lender
Chris and Kayvan work closely with a trusted lender who's closed countless deals across all of these paths. Call or text and we'll make the introduction, no cold calls, no guesswork.
These programs are for qualified borrowers only. All borrowers are subject to credit approval, underwriting approval, and product requirements, including loan-to-value, credit score limits, and other lender terms and conditions. Fees, charges, and availability vary by lender, program, and state, and are subject to change without notice; some restrictions may apply. This is not a commitment to lend. Geographic restrictions and income limits may apply, and terms vary by state, county, and lender. Generally, the smaller your down payment percentage, the higher your interest rate. Please consult your tax advisor regarding the deductibility of mortgage interest. Chris Hysell and Kayvan Danford are real estate professionals, not mortgage lenders, and do not provide financing. Our lending partner is solely responsible for loan products, terms, and approval decisions.
Get Ready
How to prepare
Whether a program like this ends up being the right fit or something else does, a little preparation goes a long way. Here's what's worth doing before you start seriously shopping.
- Get pre-qualified early, before you start touring homes, so you know your real price range
- Gather your pay stubs, W-2s, tax returns, bank statements, and a valid ID; your lender will ask for these
- Check your credit report for errors and dispute anything inaccurate before you apply
- Avoid opening new credit accounts or making large purchases in the months before closing
- Save for closing costs and reserves. Even no-down-payment programs come with some out-of-pocket costs
- Complete the required homebuyer education course, plus rehab education if you're financing a renovation
- Know your comfortable monthly budget, not just what a lender approves you for; they're not always the same number
The Process
What to expect during escrow
Once your offer is accepted, here's the general order of events between contract and closing.
- Opening escrow: your deposit is placed with a neutral third party
- Inspection period: you have the home professionally inspected and can negotiate repairs
- Appraisal: the lender orders an independent valuation of the property
- Loan underwriting: the lender reviews your file and may request additional conditions
- Shopping for homeowners insurance: you'll need a policy in place before closing
- Title work: a title company confirms the property can be transferred free of liens or disputes
- Reviewing and signing the Closing Disclosure: your final terms, provided before closing
- Funding and recording: the loan funds and the deed records with the county
Welcome home
After You Close
What happens after close of escrow
Closing isn't the finish line. A few things happen in the days and months after you get the keys.
- Recording day: the deed records and you officially get your keys
- Set up utilities in your name before or right at move-in
- In California, expect a property tax reassessment and a supplemental tax bill reflecting the new purchase price
- Your escrow (impound) account collects a portion of your taxes and insurance with each mortgage payment so the lender can pay them on your behalf
- Your first mortgage payment is typically due the first of the second month after closing
- Start setting aside savings for ongoing maintenance and repairs
- If the property has an HOA, review the governing documents and budget for dues
- Stay in touch with us for anything that comes up after move-in, from contractor referrals to questions about the neighborhood
Get Started
Think you might qualify? Let's find out together.
The only way to know for sure is to run your numbers. Reach out and we'll figure out what you actually qualify for. No pressure, no guesswork.
Call or text anytime at 626.803.0303.
You're One Step Away
We'd Love to Hear From You
Tell us a little about what you're looking for and we'll get back to you personally, usually within a few hours, including a warm introduction to our lender if a program like this fits your situation.