Buying your first home doesn't have to be overwhelming. This free guide walks you through every step — from checking your credit to getting the keys — with California-specific programs that could save you thousands.
Follow this roadmap and you'll be holding keys before you know it.
Pull your free reports at AnnualCreditReport.com. You need 620+ for conventional, 580+ for FHA. Dispute errors and pay down balances before applying.
A pre-approval means a lender has verified your income, assets, and credit. It shows sellers you're serious and tells you exactly what you can afford.
Use the 28/36 rule: keep housing costs under 28% of gross income and total debt under 36%. Don't forget property tax (~1.1% in CA), insurance, and HOA fees.
California has programs like CalHFA and MyHome that can cover 3–3.5% of your purchase price. See all programs →
A buyer's agent costs you nothing (the seller pays) and can negotiate thousands off the price. Get referrals, interview 2–3 agents.
Make a needs-vs-wants list. Tour neighborhoods at different times of day. Attend open houses. Stay within your pre-approved budget.
Include your pre-approval letter, keep contingencies reasonable, and be flexible on closing dates. Your agent will help craft the offer.
In California, check for earthquake safety, natural hazard zones, and pest/termite reports. Budget $400–$700 for a thorough inspection.
Once in escrow, lock your interest rate, submit final docs, and get your "clear to close." This takes 25–35 days typically.
Sign the closing docs, wire your down payment and closing costs, and the home is yours. Welcome home, California!
You do NOT need 20% down. Here's what's really required in 2026.
Put as little as 3% down with programs like Fannie Mae HomeReady or Freddie Mac Home Possible. PMI required until you reach 20% equity.
Backed by the Federal Housing Administration. More flexible credit requirements and lower down payment. Great for first-time buyers.
Veterans/military: VA loans require zero down and no PMI. Rural areas: USDA loans also offer 0% down for eligible properties.
The state and local governments want to help you buy. See the full guide →
California Housing Finance Agency offers 30-year fixed-rate first mortgages with below-market rates for first-time buyers meeting income limits.
Provides a deferred-payment junior loan of up to 3.5% of your purchase price (or appraised value) for down payment or closing costs.
San Diego, LA County, Bay Area, and many others offer additional grants and forgivable loans. Check your area →
Enter your numbers below. We use the 28/36 DTI rule lenders follow.
Estimated max purchase price
DTI (Debt-to-Income) Explained: Lenders use two ratios — your housing costs should be ≤28% of gross income ("front-end"), and total debts ≤36% ("back-end"). We use the stricter of both to calculate your max home price. Actual approval may vary — talk to Mike for a personalized number.
Avoid these and you'll save time, money, and stress.
House hunting without pre-approval wastes time and weakens your offer. Get approved first.
Thousands in free money goes unclaimed every year. Check California programs before you drain savings.
Just because you're approved for $700K doesn't mean you should spend $700K. Leave room for life.
That new car or furniture set can tank your debt ratios. Wait until after you close.
In California especially, you need to know about earthquake risk, foundation issues, and hazard zones.
Budget 2–5% of the purchase price for closing costs on top of your down payment.
Even 0.25% difference can mean $15,000+ over the life of your loan. Compare lenders.
Let's figure out your best path — whether it's CalHFA, FHA, VA, or conventional. No pressure, just answers.
