Buyer Resources

First-Time Buyers, Start Here

The myths, the money prep, and the desert-specific fine print — everything we wish every first-time buyer knew on day one.

Three Myths To Retire Today

"I need 20% down." You don't. Conventional loans start around 3–5% down for qualified first-time buyers, FHA starts at 3.5%, and VA loans require nothing down for eligible service members and veterans. Twenty percent avoids mortgage insurance — it's a nice-to-have, not a gate.

"My rent proves I can't afford to buy." Rent and a mortgage payment are different animals. Between the Valley's relatively low property taxes and the equity you keep instead of hand over, buyers are often surprised where the math lands. Run it in the affordability calculator.

"Find the house first, sort out the loan later." Backwards. Sellers won't take an offer seriously without a pre-approval attached — and you don't want to fall for a home you can't win.

Get Your Money Ready

  • Check your credit early. Errors take weeks to fix, and even a modest score improvement can meaningfully lower your rate.
  • Don't open (or close) credit under contract. No new cars, cards, or furniture financing until after the keys — lenders re-check before closing, and new debt can sink an approval at the finish line.
  • Document gift funds properly. Family help with a down payment is common and completely fine; it just needs a paper trail and a gift letter your lender will provide.
  • Ask about down payment assistance. Programs come and go — Home in Five Advantage in Maricopa County is a long-running example — and your lender can confirm what's available right now. See Financing.

The Desert's Fine Print

Budget beyond the mortgage. A pool is wonderful in July and costs real money year-round — figure roughly $100–$150 a month for service, plus eventual resurfacing. Summer electric bills spike hard; ask for a year of utility history. HOAs range from token dues to resort-level assessments, and older homes may be due for a roof or an AC unit — the two big-ticket items in Arizona. None of this should scare you; all of it should be in your monthly number before you offer.

Our promise to first-time buyers: you'll never be talked into a payment that keeps you up at night. Fady's mortgage-industry background means you get the "here's what the lender won't volunteer" version of every conversation.

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Buyer Resources