First-Time Buyer Essentials: Your 90-Day Game Plan

Hi, I’m Dorota Tyminski, your mortgage loan officer here in Katy, Texas. If you’re a first-time home buyer, you’re about to take one of the most exciting—and sometimes overwhelming—steps of your life. My role is to make it easier, less stressful, and more rewarding.

I’ve been where you are now. I remember buying my first home in Chicago years ago—navigating new terms, saving every dollar I could, and wondering if I was making the right choices. Over the years, I’ve helped hundreds of buyers take this same step, and I’ve learned exactly what works and what doesn’t. This guide is my detailed, 90-day plan for turning your homeownership dream into reality.

We’ll go deep into:

• How to prepare your finances and credit for approval
  
• Choosing the right loan type for your needs
  
• Making a strong offer and navigating negotiations
  
• Texas-specific tips for saving money and avoiding pitfalls
  
• Real client stories you can learn from
  
• Common mistakes and how to avoid them

By the end, you’ll not only know the steps—you’ll understand why they matter.

Days 1–30: Laying the Financial Foundation

Step 1: Check and Strengthen Your Credit

Your credit score is the first major factor lenders review. A score above 740 will put you in the best rate categories, but you can qualify for many programs with scores in the 600s. If your score is lower, don’t panic—there are ways to improve it quickly:

• Pay down high credit card balances.
  
• Avoid opening new credit accounts.
  
• Dispute any errors on your report.
  
• Set up automatic payments to avoid late fees.

For FHA loans Texas, the minimum qualifying score can be as low as 580 with a 3.5% down payment, though higher scores can mean better rates and lower mortgage insurance. If you’re aiming for a VA loan Houston TX, lenders often look for a score of 620 or higher, but some may go lower.

Pro Tip: Pull your credit report from all three bureaus (Experian, Equifax, TransUnion) and review it for accuracy. Even a small error can impact your rate and approval.

Step 2: Tame Your Debt-to-Income Ratio (DTI)

Your DTI compares your monthly debt payments to your income. Most lenders want it below 43%, but some programs allow higher with compensating factors.

• Reduce debt where possible.
  
• Avoid financing new cars or large purchases.
  
• Don’t co-sign loans for others during this period.

If you’re carrying student loans, car payments, or credit card debt, now is the time to make a plan. Even small changes can make a big difference in your mortgage pre-approval.

Step 3: Build Your Savings

Even with down payment assistance, you’ll need funds for:

• Earnest money deposit (shows sellers you’re serious)
  
• Home inspection and appraisal
  
• Closing costs (2–5% of purchase price)
  
• Emergency reserves (lenders like to see you have a cushion)

Texas Home Financing Tip: Many first-time buyer Houston programs offer down payment assistance, but you’ll still need some cash on hand. Start a dedicated savings account just for your home purchase.

Step 4: Organize Your Documents

Having everything ready speeds up pre-approval and makes you a stronger buyer:

• Last 2 years’ W-2s and tax returns
  
• Last 30 days’ pay stubs
  
• Bank statements for the last 2 months
  
• Photo ID
  
• Proof of any other assets (retirement, investments, etc.)

If you’re self-employed, gather your business tax returns and a year-to-date profit and loss statement.

Days 31–60: Get Pre-Approved & Compare Loan Options

Pre-Approval vs. Pre-Qualification

Pre-qualification is a quick review of your finances based on self-reported info. Pre-approval involves verifying your income, credit, and assets—making your offer far stronger. Sellers and real estate agents in Houston and Katy take pre-approval seriously, and it can give you an edge in a competitive market.

Why Pre-Approval Matters:

• Shows sellers you’re a serious, qualified buyer
  
• Helps you shop with confidence, knowing your true budget
  
• Lets you lock in a mortgage rate as soon as you find a home

Explore Loan Types

FHA Loans Texas:
Flexible credit requirements, low down payments (as low as 3.5%), and more forgiving on past credit issues. Great for first-time buyers and those rebuilding credit.

Conventional Loans:
Best for strong credit; down payments as low as 3% for qualified buyers. Private mortgage insurance (PMI) can be removed once you reach 20% equity.

VA Loans Houston TX:
For eligible Veterans, active-duty service members, and some surviving spouses. No down payment, no monthly mortgage insurance, and competitive rates. If you qualify, this is one of the best mortgage loans Texas has to offer.

USDA Loans:
Zero-down options for homes in eligible rural areas. Income and location restrictions apply, but it’s a great option if you’re open to living outside the city.

Jumbo Loans:
For homes above conforming loan limits. These have stricter requirements but can help you buy in higher-priced markets.

Use a Home Loan Calculator

Before you fall in love with a house, use a home loan calculator to estimate your monthly payment. Include:

• Principal & interest
  
• Property taxes (which can be high in Texas)
  
• Homeowners insurance
  
• Mortgage insurance (if applicable)
  
• HOA fees (if buying in a community with an association)

Pro Tip: I’m always happy to run the numbers with you and help you compare options. The best mortgage lenders will walk you through every scenario.

Days 61–90: Find, Offer, and Close

Partner With the Right Real Estate Agent

Choose someone who understands first-time buyer programs, local market trends, and negotiation strategies. A great agent will:

• Help you find homes that fit your budget and needs
  
• Advise you on making a competitive offer
  
• Guide you through inspections, appraisals, and closing

Ask for referrals, read reviews, and interview a few agents before deciding.

Make a Competitive Offer

Base your offer on market data, not just the list price. Your agent will help you analyze recent sales, current competition, and seller motivation.

• Use your pre-approval letter to show you’re serious
  
• Consider including an earnest money deposit
  
• Be flexible on closing dates if possible

Texas Home Financing Tip: In hot markets like Houston and Katy, homes can sell fast. Having your mortgage pre-approval and documents ready can help you move quickly and stand out.

Lock in Your Rate

When you’re under contract, securing your rate protects you from market changes. Rates can move daily, so don’t wait too long. Ask your lender about float-down options in case rates drop after you lock.

Navigate Closing Confidently

We’ll review every document together before you sign. I’ll explain your closing disclosure, answer your questions, and make sure you understand every number.

• Schedule your final walk-through
  
• Bring your ID and any required funds to closing
  
• Celebrate—you’re about to become a homeowner!

Texas-Specific Tips for First-Time Buyers

Leverage TSAHC & TDHCA Programs

The Texas State Affordable Housing Corporation (TSAHC) and Texas Department of Housing and Community Affairs (TDHCA) offer down payment assistance and Mortgage Credit Certificates (MCCs) that can save you thousands. These programs are designed for first-time buyers, teachers, Veterans, and more.

• Grants and forgivable loans for down payment and closing costs
  
• MCCs provide a federal tax credit for a portion of your mortgage interest
  
• Income and purchase price limits apply, but many buyers qualify

Understand Property Taxes

Texas doesn’t have a state income tax, but property taxes can be higher than in other states. Rates vary greatly by subdivision, school district, and even street. Always check the tax rate for the specific area you’re buying in, and budget accordingly.

Claim Your Homestead Exemption

After closing, apply for your homestead exemption to lower your taxable home value. This can save you hundreds each year. Mark your calendar for January—applications open at the start of the year.

Don’t Skip the Home Inspection

Even if the home looks perfect, a professional inspection can uncover hidden issues. It’s a small investment for peace of mind and can help you negotiate repairs or credits before closing.

Real Buyer Success Story

Let me share a story from a couple in Katy. They’d been saving for two years but were still short on their down payment. We used TSAHC assistance and paired it with an FHA loan. They closed on their first home with under $2,500 out of pocket. Today, they’re building equity, enjoying their own backyard, and planning for the future.

Stories like this are why I love what I do. Every buyer’s journey is unique, but with the right plan and support, homeownership is within reach.

Common Mistakes to Avoid

• Switching jobs before closing: Lenders want to see stable employment. If you must change jobs, let your lender know right away.
  
• Large, unexplained bank deposits: Any big deposit needs to be documented. Keep a paper trail for gifts, bonuses, or transfers.
  
• Skipping the home inspection: Even new homes can have issues. Don’t skip this step.
  
• Making big purchases before closing: Hold off on buying furniture, cars, or appliances until after you get your keys.
  
• Not asking questions: There are no silly questions. The best mortgage lenders want you to feel confident and informed.

FAQ: First-Time Buyer Questions Answered

Q: Can I buy with less than 20% down?
Absolutely. FHA, VA, USDA, and even 3% down conventional loans exist. Down payment assistance can help you buy sooner and keep more cash in your pocket.

Q: How long does closing take?
Typically 30–45 days from contract to keys, but it can be faster with a strong team and organized paperwork.

Q: Will I have mortgage insurance forever?
FHA’s MIP is for the life of the loan (unless you refinance into a conventional loan later). Conventional PMI can be removed once you reach 20% equity.

Q: What if my credit isn’t perfect?
There are options! FHA loans Texas are more flexible, and I can help you build a plan to improve your score.

Q: How do I know what I can afford?
Start with a mortgage pre-approval and use a home loan calculator. I’ll help you look at your full financial picture, including taxes, insurance, and HOA fees.

Your Next Step: Let’s Build Your Custom 90-Day Plan

Your dream home is closer than you think. With the right plan, support, and a little patience, you can buy with confidence and start building your future.

• Start your mortgage pre-approval (quick and secure)
  
• Use the home loan calculator to estimate payments
  
• Ask me anything—I’m here to help

Let’s create your custom 90-day plan and get you ready to buy with confidence. Whether you’re just starting to dream or ready to make an offer, I’m here to guide you every step of the way.