Buying your first home
You may need far less cash than you think. The #ChampionsofLoans Team guides first-time buyers through credit, down payment assistance, pre-approval, and the path to closing - step by step.
How much money do you actually need?
Most first-time buyers overestimate the cash required. Depending on the program and your profile, your real out-of-pocket can be a fraction of 20%:
- FHA loans - as little as 3.5% down, credit scores from 580.
- Conventional 97 - 3% down for qualified first-time buyers.
- VA loans - $0 down for eligible veterans and service members.
- USDA loans - $0 down in eligible rural and suburban areas.
- California Down Payment Assistance - CalHFA MyHome, GSFA Platinum, and city grants can cover much of the down payment and closing costs.
On a $525,000 Sacramento home, a properly stacked FHA + CalHFA structure can drop cash-to-close to roughly $5,000-$8,000 plus reserves.
Your step-by-step roadmap
- Get pre-approved - usually same-day. We review income, credit, and assets and give you a real budget.
- Find your down payment strategy - we check every California DPA program you may qualify for.
- Shop with confidence - a strong pre-approval letter makes your offer competitive.
- Lock and close - most purchases close in 12-21 days once your offer is accepted.
What credit score do I need?
FHA can start as low as 580 with 3.5% down; conventional typically wants 620+. Before you apply, we can review your profile and recommend simple moves that often raise a score 20-60 points within a billing cycle.
First-time buyer questions
Do I have to be a first-time buyer to get assistance?
Not always. Many programs define "first-time buyer" as not having owned a home in the last three years, and some assistance programs have no first-time requirement at all. We'll match you to what fits.
How long does pre-approval take?
Often the same day once we have your basic documents. Pre-approval shows sellers you're serious and tells you your true budget.
Can I buy with student loans or other debt?
Yes. We calculate your debt-to-income ratio and structure the loan around it. Try the affordability calculator to estimate your range.