Buying your first home can feel overwhelming when you’re not sure how much you need to save, what your credit should look like, or where to begin. The Thompson Mortgage Team helps make the process easier to understand from the very first conversation.
Buying your first home comes with a lot of assumptions, and some of them can make the process feel harder than it actually is. Here are a few of the most common misconceptions worth clearing up early.
Not every mortgage requires a 20% down payment. Different loan programs can have different down payment structures depending on your situation and eligibility.
Your credit matters, but a perfect score isn’t the only factor considered. A lender can help you understand how your overall financial picture may affect your options.
Understanding your financing before you start seriously shopping can help you know your budget and make the home search much more focused.
You don’t need to choose a mortgage program before reaching out. Part of the conversation is comparing available options and understanding which direction may fit your goals.
You don’t have to understand the entire mortgage process before you begin. We’ll help you take it one step at a time so you can understand what’s happening and what comes next.
Tell us about your goals, your timeline, and where you are today. You don’t need to have everything figured out before reaching out.
We review your financial picture and help you understand your potential buying power and available financing options.
With a clearer financing direction, you can focus your home search on properties that better align with your budget and goals.
Once you find the right home, your real estate agent handles the offer while we help keep the financing side moving forward.
Your mortgage moves through processing and underwriting while the final details are prepared for closing.
Sign your closing documents, complete the purchase, and officially step into life as a homeowner.
Not ready to start the process yet? That’s okay. Learn at your own pace with our First-Time Homebuyer Guide.
Get the Free Buyer GuideBuying your first home comes with a lot of new terms, decisions, and questions. We created this guide to give you a clearer picture of what to expect before you’re ready to take the next step.
Your mortgage is only part of the picture. Depending on your eligibility, there may also be programs designed to help make the upfront costs of buying a home more manageable.
Florida’s Hometown Heroes program is designed to help eligible first-time homebuyers working in qualifying Florida occupations with down payment and closing cost assistance.
Eligible buyers may have access to programs designed to help with down payment and closing costs. The amount and structure of assistance depend on the specific program and borrower.
Florida Housing offers mortgage and assistance programs for eligible homebuyers, including options that may help with down payment and closing costs.
Assistance programs are only one part of your financing strategy. We can help you compare available mortgage options and understand how those pieces may work together based on your situation.
Program availability, funding, eligibility requirements, income and purchase-price limits, loan terms, and assistance amounts may change. Information shown here is for general educational purposes and does not constitute a commitment to lend or a guarantee of qualification.
One of the biggest questions first-time buyers have is how much money they actually need to buy a home. The answer can depend on your financing, the property, and your individual situation, but it helps to understand the different pieces that may be involved.
The portion of the purchase price you contribute upfront. The amount required can vary depending on your mortgage program, eligibility, and financial situation.
These are costs associated with completing the mortgage and purchase transaction. Your lender can help you understand what may apply to your specific purchase.
Certain expenses, such as homeowners insurance and property taxes, may need to be paid or collected around the time you close.
It can also be helpful to plan for expenses outside the mortgage itself, such as inspections, moving costs, and money you may want available after you move in.
Instead of guessing at a number, let’s talk through what buying could look like based on your situation.
You just need a place to start. Let’s look at where you are today, answer your questions, and help you understand what your path toward buying your first home could look like.
Starting a conversation or application does not guarantee loan approval. Loan approval is subject to applicable underwriting, program, property, and eligibility requirements.
