Make Your First Home Purchase Your Best-Ever Decision

Can you get qualified? Even without a substantial down payment saved, you’ll find there are programs—such as the FHA loan program—that make it possible for you to become a first-time home buyer.

Take advantage of interest rates. There’s no guarantee that interest rates are going to be this low forever. By getting out of the renter’s game and locking in low interest rates, you can begin a lifelong journey of wealth building.

Use less money down than you imagined. The concept of saving up 20% for money down against a loan can scare some first-time home buyers. But we’ll explain why that doesn’t always have to apply to you.

What You Need to Know About First-Time Home Buying

According to some statistics, a majority of renters who want to buy a home don’t move forward because they’re afraid they don’t qualify! But there are plenty of programs that make it viable for lots of people—even those with poor credit—to qualify.

For many first-time home buyers, the main issue is coming up with the down payment. Many of those who would otherwise buy a home feel they would move their purchase timeline forward if they could make the down payment.

With some first-time home buyers’ terms, it’s possible to pay with a relatively small down payment, much smaller than the usually-expected 20%.

Home sales are as hot as ever, with available homes sometimes going off the market in as little as three weeks in some areas—or even less.

Find favorable terms. When you approach it the right way, your first home purchase can be a door to great terms that help you with your monthly budget.

2 Ways to Use Your FHA 203(k) Loan

Buy a Fixer-Upper (and Fix It Up)

Or... Renovate Your Current Home!

If I could give Tiffani 22 stars, I would. I am very new to the mortgage process, and until recently only knew a little bit. Throw in a pandemic, in a market where there's VERY LITTLE inventory...and BAM, it's potentially a recipe for chaos and disaster. Nope, not with Tiffani. I didn't realize how much is really involved, what's ok to submit and what's not etc. Tiffani from day freaking 1 was the most helpful, patient, kind, supportive, cheerleading, understanding person and more than I could've even asked for. I took on the majority of the work between the 2 of us looking for a place of our own, and it was STRESS, FULL. Tiffani assured us both we'd be fine, answered every and all questions day or night, virtually held our hands when we broke down worried we weren't gonna be able to make this happen, and kept cheering us on and being the most supportive person. Due to the pandemic, we didn't meet her in person until the very end, and when I did it felt like seeing a good friend we hadn't seen in forever. i am SO beyond thankful for her, her compassion, kindness, help, and professionalism, as well as the fact that I could just talk to her openly and futz around and rant at times-it helped so so much. I cannot say enough good things about her, and BEYOND recommend her and then some

- Jordana J.

I worked with Tiffani while buying a home in NW Las Vegas in November of 2020. Yeah. Smack dab in the middle of the Pandemic. And ya know was fantastic. She did an amazing job of keeping me in the loop on what was happening, what was upcoming, and everything in between. She was quick to respond to questions or concerns, even when they were random thoughts in the afternoon or whatever and we got everything finished in record time. I highly recommend Tiffani to anyone looking to pay for a home in Las Vegas.

- Noah B.

Tiffani is amazing!! She's extremely knowledgeable and was so helpful throughout the entire process. As first time home buyers, she made us feel comfortable and assisted us with our many questions. She truly felt like a good friend who helped us get into our new home. Thank you again and many times more Tiffani, we love our house! -The Asuncions

- Antonette A.

Tiffani made my refinance a breeze. She answered all my +/- 1 million questions and never hesitated to get me everything I needed to complete the loan process. I even had a COVID-19 scare at my office, which delayed the signing of the final docs. The Lender tried to require me to pay more money to "secure" my rate at the same rate I already paid to "secure" and Tiffani fought for me to get an extension, due to the Pandemic and situation which was out of my control. I would highly recommend her for any of your lending needs, she gets the job done! 😀😍

- Amber A.

Your Renovation Wish List Could Include...

Increase window size

Bring in more natural light

Finish a basement or attic

Create a mother-in-law apartment or guest space

Correct foundational issues​

Protect your investment for the long-term

Add a detached garage when one does not exist​

There’s room for everyone

Knock down walls​

Open up the floor plan to create versatile, welcoming spaces

Flood-proof your property​

Add a retaining wall to prevent expensive damage

Repair the pool​

Tired of leaks and cracks? Fix the pool & start enjoying it

Expand or refresh the kitchen​

Cooking is just more fun in an updated kitchen

Add square footage​

Growing your family? Grow your home alongside it!

And so much more! ​All funded by your single, convenient FHA 203(k) Renovation loan.

And start planning your renovations now!

After remodeling, ​74% of owners have a greater desire​ to be in their home, and ​65%​ ​have increased enjoyment​ in their home.

Source: National Association of Realtors® 2020 Remodeling Impact Report

How Does a Renovation Loan Work?

Depending on the types of repairs you plan to do, ​you have two options​ when it comes to securing a FHA 203(k) Renovation Loan: Limited and Standard.

The Limited 203(k) loan

The Limited 203(k) loan is for non-structural or “cosmetic” repairs. It covers up to $35,000 in renovation costs. With a Limited loan, you can do nearly anything that doesn’t affect the home’s structure! ​Think kitchen and bathroom remodels, carpet and flooring replacement, painting, appliance replacement, and much more.

The Standard 203(k) loan

The Standard 203(k) loan is a loan for projects with repair costs over $35,000. It can be used for structural or non-structural repairs. With a Standard Loan, you have even more flexibility. ​You can expand the home’s footprint, improve accessibility for differently abled people, and even move the home to a different site.

Find out how to buy my first home! Discover what you can do with an FHA Purchase or Renovation loan!

What Do First-Time Home Buyers Need to Know About Buying a Home?

Why should I buy a home now and not rent until I can save up a massive down payment?

Because there are plenty of options for lowering your down payment! For example, the FHA loan program, which includes loans insured by the Federal Housing Administration, is great for people with low credit scores and not a lot saved for a down payment. That isn’t to say that you shouldn’t save for a down payment—but remain open to all of the options available.

How will I afford my home?

Pre-approval for a first-time home buyer can be a major step in the process, and it’s easier than you think. A pre-approval is essentially a (conditional) promise from a lender that they can offer you the mortgage terms you need to make an offer on a house. This requires an application process that’s much simpler than you might imagine—and great for first-time home buyers who want to shop around and demonstrate to a seller that they’re serious about their offer.

Should I save for a down payment?

Absolutely. Just because you don’t necessarily have to make a 20% down payment on your first home doesn’t mean that you should eschew the process completely. Having a substantial down payment saved never hurts.

I have a low credit score. What kinds of loan programs are there for me?

If you go through the application process and make sure that your payment is in line with what you can fit within your budget (the typical recommendation is a mortgage that takes up no more than 25-33% of your household budget), then you’ll find it’s possible to afford your first home—and the process may be much simpler than you imagined

How do I get pre-approved?

In addition to the FHA loan program as mentioned in the previous answer, you should also look at your qualification for: the VA loan program, the USDA loan program, and even the Good Neighbor Next Door buyer aid program.

What should I do next?

Simple. Click any of our buttons above and find out if your first time home purchase can be as easy as we say it is here. Don’t worry about a low credit score, either—you’ll find that there are plenty of programs out there that can help.

Find out how to buy my first home! See if you’re eligible for your first home loan in 60 seconds or less!

Your home, your way.
That’s the FAIR WAY!