Purchase loan
Your first home, without the guesswork.
Most first-time buyers need less down than they think. We lay out every option side by side, in real numbers, before you make an offer.
- Down payment from
- 3%
- Credit score from
- 580+
- Pre-qualification
- Free
- Rate lock
- Up to 120 days
What "first-time buyer" really means
You may count as a first-time buyer even if you owned a home before. Many programs use a simple test: you have not owned a primary residence in the past three years. That can open the door to lower down payments and, in some cases, down payment assistance.
Being a first-time buyer is not a loan program by itself. It is a starting point. The right loan depends on your credit, your savings, your income and the home you want.
Plan for closing costs, too. In Florida they commonly run a few percent of the purchase price, and sellers can sometimes contribute.
The loans most first-time buyers use
- FHA loan: as little as 3.5% down with a credit score of 580 or higher. Upfront and annual mortgage insurance (MIP) apply.
- Conventional loan: as little as 3% down for qualifying first-time buyers. Private mortgage insurance (PMI) applies below 20% down and can be removed later.
- VA loan: $0 down for eligible veterans and service members, with no monthly PMI.
State and county down payment assistance programs may also be available, depending on your income, the purchase price and the property. We will tell you plainly whether one fits your file and whether it actually saves you money.
Get approved before you shop
In Miami, the winning offer is not always the highest one. Sellers want a fair price, but they also want a deal that closes. A real pre-approval, with your credit, income and assets already reviewed, tells the listing agent your financing is ready.
Here is how we work your file:
- A 30-minute call to understand your goals, budget and timeline.
- Two to three hours behind the scenes, building your best options on rate, closing costs and loan structure.
- A 30- to 45-minute call to walk you through what we found, line by line.
If you do not have a real estate agent yet, we can introduce you to one from our network.
What to have ready
- Two years of employment history and your most recent pay stubs
- W-2s, or two years of tax returns if you are self-employed
- Your last two months of bank statements
- A government-issued photo ID
Not sure what you can afford yet? Start with our affordability calculator. When you are ready to talk numbers, request a quote and a loan officer will call you.
Questions we hear
What credit score do I need to buy my first home?
It depends on the program. FHA generally allows 3.5% down with a score of 580 or higher, while most conventional loans start around 620. If your score is lower, we can review your report with you and show you what may raise it fastest.
How much do I really need for a down payment?
Qualifying buyers may put as little as 3% down on a conventional loan or 3.5% on an FHA loan, and eligible veterans may put $0 down with a VA loan. You will also need funds for closing costs and, in some cases, reserves. Gift funds from family are generally allowed with proper documentation.
What is the difference between pre-qualification and pre-approval?
A pre-qualification is an estimate based on what you tell us. A pre-approval means we have reviewed your credit, income and assets. Sellers and listing agents give far more weight to a pre-approval.
Can I get help with my down payment?
Possibly. Florida and Miami-Dade County have offered down payment assistance programs, but they come with income limits, price limits and rules that change over time. We check what is available when you apply and whether it genuinely fits your file.
How long does it take to close on a home?
Many purchases close in roughly 30 to 45 days from an accepted offer, depending on the appraisal, the property and how quickly documents come in. A dedicated processor keeps your file moving and updates you at each step.
Related programs
Conventional Loan
Flexible financing for primary homes, second homes and rentals, with PMI you can remove later.
FHA Loan
Government-insured financing with 3.5% down and flexible credit guidelines for primary homes.
VA Loan
$0 down and no monthly PMI for eligible veterans, service members and surviving spouses.
Thirty minutes. Your goals. Real options.
Start with a goal consultation. No credit pull, no obligation. We come back with the strongest structures on the market for your situation.