Congratulations on taking the first step toward homeownership! Buying your first home is one of the most significant financial decisions you'll make, and Sacramento offers incredible opportunities for first-time buyers.
Key Takeaways
- Get pre-approved before you start looking
- Know your budget and stick to it
- Work with an experienced local agent
- Don't skip the home inspection
- Take advantage of first-time buyer programs
Assess Your Financial Readiness
Before you start browsing listings, let's make sure you're financially prepared.
Check your credit score: 740+ is excellent (best rates), 700-739 is good (most programs available), 620-699 is fair (options available but higher rates), and below 620 means you should work on improving before applying.
A general rule: Your monthly housing payment (including taxes and insurance) shouldn't exceed 28% of your gross monthly income.
- Conventional loans: 3-20% down
- FHA loans: 3.5% down
- VA loans: 0% down (if eligible)
- CalHFA programs: Down payment assistance available
Get Pre-Approved
This is crucial—don't skip it! A pre-approval letter shows sellers you're serious, gives you a clear budget, and speeds up the closing process.
We work with several trusted local lenders who specialize in first-time buyers.
Find the Right Neighborhood
Sacramento has diverse neighborhoods, each with its own character.
- Family-Friendly: Granite Bay (top schools, larger lots), Roseville (new construction), Folsom (excellent schools, lake access)
- Urban Living: Midtown (walkable, restaurants), East Sacramento (tree-lined streets), Land Park (historic charm)
- Value Areas: Elk Grove (affordable, growing), Natomas (new homes, close to downtown)
House Hunting
With your pre-approval in hand, it's time to search.
- Create a must-have list — What's non-negotiable?
- Identify nice-to-haves — What would be great but isn't essential?
- Visit at least 8-10 homes — Get a feel for the market
- Trust your agent — We'll guide you to the best options
Make an Offer
When you find "the one," we'll help you craft a competitive offer.
- Purchase price based on comparable sales
- Earnest money deposit (typically 1-3% of purchase price)
- Contingencies for inspection, appraisal, and financing
- Timeline including closing date and other deadlines
Under Contract
Once your offer is accepted, the real work begins.
- Order inspections (general, pest, roof if needed)
- Complete loan application
- Review disclosures carefully
- Order appraisal
- Final walkthrough before closing
Closing Day
You'll sign documents, receive your keys, and officially become a homeowner!
First-Time Buyer Programs
CalHFA (California Housing Finance Agency) offers down payment assistance up to 3.5%, competitive interest rates, and requires first-time buyer education.
FHA Loans offer 3.5% down payment with more flexible credit requirements, though mortgage insurance is required.
Let's Discuss Your Real Estate Goals
Our team is here to guide you through every step of the process. Reach out for a free consultation.