Start your first purchase with a clear plan for the payment and cash to close. Adam can help you connect your budget with loan options before you tour homes.
Your Purchase, Step by Step
- 01
Understand Your Budget
Set a monthly payment you can live with and keep cash for emergencies.
Calculate buying power → - 02
Review Loan Options
Compare down payments, mortgage insurance, eligibility and total costs.
Compare loan programs → - 03
Get Preapproved
Work with Adam to review your credit, income, debts and funds for closing.
See what to prepare → - 04
Choose an Agent
If you need one, ask Adam about introductions. Discuss representation and compensation with the agent.
Ask Adam a question → - 05
Shop Within Your Plan
Update the payment estimate for each home’s taxes, insurance and HOA dues.
Estimate the payment → - 06
Make an Offer
Work through the price, earnest money, contingencies and closing date with your agent.
Plan your closing cash → - 07
Complete the Loan Review
Respond to underwriting requests and complete the appraisal and property reviews that apply.
Understand conditional approval → - 08
Review and Close
Read your Closing Disclosure, confirm the funds needed, and verify wire instructions through a known phone number.
Ask about closing →
Build a Comfortable Monthly Budget
Start with take-home pay and the rest of your household spending. The mortgage payment is only one housing cost: add property taxes, homeowners insurance, possible mortgage insurance, HOA dues, utilities and a maintenance reserve. Adam can help you use that budget to set a practical price range.
- List recurring debts such as car, student-loan and credit-card payments.
- Try several home prices and interest-rate assumptions in the payment calculator.
- Decide how much monthly room you want for emergencies and other goals.
Plan the Cash You Will Need
Down payment and cash to close are different. The latter also includes lender and third-party charges, prepaid insurance, initial escrow funding and adjustments, less eligible credits and deposits already paid. Preserve money for moving and repairs.
- Estimate a down payment and closing costs separately.
- Ask whether gift funds or an assistance program can be used with your loan.
- Review the Loan Estimate for the specific property and loan, then the Closing Disclosure before signing.
Prepare for Preapproval and Shopping
Gather income, asset and identification documents before you need an offer letter. A preapproval is based on the information reviewed at that point; the property, appraisal, title and final underwriting still matter. Once you choose a property, Adam can walk you through your Loan Estimate and next steps.
- Check your credit reports for errors.
- Avoid new debt or unexplained large deposits during the process.
- Ask Adam how seller credits or assistance may fit your purchase.
National Down Payment Assistance
State programs are one path. Ask Adam about national down payment assistance options, too. Their rules may differ from state housing-agency programs; the specific product, property and borrower still need a review.
Assistance is not always a grant. Some options create a second loan or require repayment when you sell, refinance or no longer meet program conditions. The rate and total payment may differ from a loan without assistance. Availability, funding and eligibility must be confirmed for your purchase.
Explore national down payment assistance →Questions Buyers Ask
Do I need 20% down?
No universal 20% rule applies. Some programs permit lower down payments, but mortgage insurance, pricing and eligibility can change the total cost.
Should I contact an agent or lender first?
Start with Adam to understand your financing and prepare for preapproval. If you still need an agent, ask about an introduction when you are ready to search.
Put the Guide to Work
Official Sources
Rules and funding can change. Confirm current requirements before relying on a program.