First-Time Home Buyers
Not ready yet? That's okay. Here's what to know now so you're ready when the time is right.
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What Every First-Time Buyer Should Know
Buying your first home is a big step, and the earlier you start planning, the easier it gets. Even if you're a year or more away, these are the things worth knowing today.
1. Know Your Budget
Your monthly payment usually includes principal, interest, property taxes, and homeowners insurance (often called PITI), plus HOA dues if the home has them. A lender can show you what fits comfortably — not just what you qualify for.
2. Check Your Credit
Pull your free reports at AnnualCreditReport.com and fix any errors. Paying on time and keeping card balances low are the two biggest ways to improve your score before you apply.
3. You May Need Less Down Than You Think
20% down isn't required. Depending on the loan, some buyers put down as little as 3%–3.5%, and eligible VA and USDA buyers may put 0% down. Your lender will walk you through the options.
4. Ask About Down Payment Help
Ohio has first-time buyer and down payment assistance programs, including through the Ohio Housing Finance Agency. Eligibility depends on things like income and purchase price — ask your lender if you qualify.
5. Plan for Closing Costs
Beyond the down payment, budget for closing costs (lender fees, title, prepaid taxes and insurance), which often run a few percent of the price. Sometimes these can be negotiated with the seller.
6. Other Up-Front Costs
Earnest money (a good-faith deposit when your offer is accepted), a home inspection, and often an appraisal. I'll tell you what to expect for each home.
7. Pre-Approved Beats Pre-Qualified
A pre-qualification is a quick estimate. A pre-approval means a lender has reviewed your documents — and it's what sellers want to see with your offer. See lenders I trust →
8. Gather Your Documents
Lenders typically ask for: bank statements (last 60 days), W-2s (2 years), tax returns (2 years), and pay stubs (last 30 days).
9. Having an Agent Costs Less Than You Think
You'll sign a buyer agreement before we tour homes. Agent compensation is negotiable and is often paid by the seller or split — we'll talk through it up front so there are no surprises.
10. Protect Your Loan Once You're Under Contract
Don't change jobs, open new credit, finance furniture or a car, or move large sums of money without checking with your lender first. Any of these can delay or derail your closing.
11. Remember Ongoing Costs
Owning a home means maintenance, repairs, utilities, and property taxes that can change over time. Setting aside a little each month for upkeep goes a long way.
12. Call Me Before You Click
Found a home on Zillow or another app? Don't hit the “contact agent” button — text me the link at (513) 267-7152 and I'll set up the showing.
Not ready yet? Let's make a plan.
I'm happy to sit down with you months (or years) before you buy to map out your budget, timeline, and next steps — no pressure.
This page is a plain-English overview to help you feel prepared. It isn't legal, tax, or lending advice, and the actual signed documents always control. Have questions about your situation? Ask me anytime, or talk with a real estate attorney.
FAQ
First-Time Buyer Questions
How much do I need for a down payment?
It depends on the loan. Some loan programs allow a low down payment, and some buyers qualify for down payment assistance. A lender can tell you exactly what you qualify for, so getting pre-approved is the best first step.
Do I need to be pre-approved before looking at homes?
It's strongly recommended. Pre-approval tells you your real budget, and sellers take offers with a pre-approval letter more seriously.
What does a buyer's agent cost?
Buyer agent compensation is agreed to in writing before we tour homes, and sellers often offer to cover some or all of it. We'll go over the numbers together before you sign anything. See the buyer agreement explained.
How long does it take to buy a home?
Many buyers find a home within a few weeks to a few months. Once your offer is accepted, closing typically takes about 30 to 45 days.
What costs are there besides the down payment?
Plan for an earnest money deposit, a home inspection, the appraisal, and closing costs. Your lender will give you a Loan Estimate that lists the expected costs.