Buying your first home is exciting and can feel overwhelming. At Bahr Properties, we specialize in helping first-time buyers navigate the process with confidence.
Why Choose Bahr Properties for Your First Home
Patient, Education-Focused Approach
We take time to explain every step, answer all your questions, and make sure you understand the process. No question is too basic.
Trusted Lender Network
We'll connect you with lenders who specialize in first-time buyer programs including FHA loans (3.5% down), VA loans (0% down for military), conventional loans, and USDA loans for eligible rural areas.
Budget Guidance
We'll discuss not just mortgage payments, but HOA fees, insurance, property taxes, maintenance costs, and closing costs so you know the complete picture.
First-Time Buyer Financing Options
FHA Loans
- Down payment: As low as 3.5%
- Credit score: 580+ typically required
- Mortgage insurance required
- Ideal for buyers with limited down payment funds
VA Loans (Military/Veterans)
- Down payment: $0 (100% financing)
- No private mortgage insurance required
- Competitive interest rates
- Available to active duty, veterans, and eligible spouses
Conventional Loans
- Down payment: 3-5% for first-time buyers
- Credit score: 620+ typically required
- PMI required if less than 20% down
- More flexibility in property types
USDA Loans
- Down payment: $0 in eligible rural areas
- Income limits apply
- Property must be in USDA-designated area
The First-Time Buyer Process
- Initial Consultation - Discuss goals, timeline, and budget
- Get Pre-Approved - Know your buying power (1-3 days)
- Define Your Criteria - Neighborhoods, schools, features
- Tour Homes - Usually 5-15 homes before finding "the one"
- Make an Offer - We'll guide you through competitive offers
- Home Inspection - Professional inspection (7-10 days)
- Appraisal - Lender-ordered appraisal
- Closing - Sign papers and get your keys! (30-45 days total)
Common First-Time Buyer Questions
How much do I need for a down payment?
It depends on your loan type. FHA requires 3.5%, VA and USDA can be 0%, and conventional can be as low as 3-5% for first-time buyers.
What are closing costs?
Typically 2-5% of the purchase price. This includes lender fees, title insurance, appraisal, inspection, and other costs. Some can be negotiated with the seller.
What credit score do I need?
FHA loans: 580+, Conventional: 620+, VA loans: 580+ typically. Higher scores get better interest rates.
How long does it take to buy a home?
From offer acceptance to closing: 30-45 days typically. The search process varies—some find their home in weeks, others take months.
Best Starter Home Neighborhoods
- Powers Corridor: $300K-$425K, great for first-timers
- Fountain/Security: $275K-$400K, affordable options
- Falcon/Peyton: $350K-$475K, newer construction
- Stetson Hills: $400K-$550K, master-planned community
Ready to get started?
Contact Bahr Properties at 719-447-7900 or email Email Us Here for personalized service.