Home / First-Time Homebuyer
First-Time Homebuyer
Your first home, explained in plain English. We're a family-run, veteran-owned broker based in Thornton, serving the Denver metro. We walk first-time buyers through every step, from figuring out your budget to getting the keys, and we compare loan options and down payment assistance across multiple lenders so you see your real choices.
- Low down payment loan options
- CHAC & CHFA down payment assistance
- Step-by-step guidance
- Family-run since 2010
You may count as a first-time buyer even if you've owned before
Many programs define a first-time homebuyer as someone who hasn't owned a home in the past three years, so a past owner can sometimes still qualify. Single parents and displaced homemakers may qualify under some program rules too.
Each program sets its own definition, so we'll check yours before you start shopping.
Common worries we hear (and solve)
- "I don't have a big down payment saved."
- "My credit isn't perfect."
- "I'm self-employed or my income is new."
- "I don't know what I can actually afford."
- "The process feels overwhelming."
None of these is automatically a deal-breaker. We'll tell you plainly what's possible, and if you're not ready yet, we'll give you a game plan.
Loans that work well for first-time buyers
FHA loans
Low down payment options and more flexible credit guidelines, insured by the Federal Housing Administration. A common first step into homeownership.
Conventional loans
Low down payment options for qualified buyers, including programs designed for first-time and moderate-income buyers with reduced mortgage insurance.
VA loans
For eligible veterans, service members and certain surviving spouses: options that can reduce or eliminate the down payment, with no monthly mortgage insurance.
USDA loans
Reduced upfront costs for eligible buyers in qualifying areas, including some communities northeast of Thornton.
CHAC and CHFA down payment assistance
Colorado has programs that can help with your down payment and closing costs. For Denver-metro buyers, we most often use CHAC (Colorado Housing Assistance Corporation), and we also work with CHFA (Colorado Housing and Finance Authority).
These programs have their own rules, such as income limits, purchase price limits and a homebuyer education course, and their funding can change. We'll check what you may qualify for up front and pair it with the right first mortgage, so you know your real cash to close before you make an offer.
Costs to plan for
- Earnest money when your offer is accepted
- Home inspection during the contract period
- Appraisal, ordered by the lender
- Down payment and closing costs at closing (assistance may help)
- Reserves: a savings cushion that some loans require
We'll give you an itemized estimate before you shop, so there are no surprises at the closing table.
Your first home, step by step
Talk it through
We learn your goals, budget and timeline, and answer every question, no matter how basic.
Get pre-approved
We review income, credit and assets, check assistance programs and compare loans across lenders. You get a pre-approval letter to shop with.
Shop for your home
Work with your agent (or ours) to find the right home. We'll re-check numbers on any home you're serious about.
Under contract
Your offer is accepted. Inspection, appraisal and your loan application move forward together.
Underwriting
The lender verifies everything. We handle the back-and-forth and tell you exactly what's needed and when.
Closing day
Sign, fund and get your keys. We're still here after closing for anything you need.
First-time homebuyer FAQ
How much do I need to save to buy my first home?
It depends on the loan, the price and whether you qualify for assistance. Between low down payment loan options and programs like CHAC and CHFA, many buyers need less than they expect. We'll show you the actual numbers for your situation.
What credit score do I need?
Different loans and lenders have different requirements, and some are more flexible than you might think. We'll review your credit with you and, if it needs work, give you specific steps to improve it.
How long does the process take?
Getting pre-approved can be quick once we have your documents. After your offer is accepted, closing commonly takes about a month, depending on the loan and the transaction.
Do I need a real estate agent?
Most buyers benefit from one. If you don't have an agent yet, our licensed real estate team can help, and we coordinate closely with any agent you choose.
Should I get pre-approved before I start looking?
Yes. A pre-approval shows sellers you're serious, tells you your price range, and helps you avoid falling for a home that doesn't fit your budget.
Why use a broker for my first home?
A bank can only offer its own loans. As a broker, we compare options from multiple lenders and help you combine them with down payment assistance, so you can see your real choices side by side.
Let's map out your first home.
Tell us a little about your goals and a real person from our team will reach out, usually the same business day. Mon–Sat, 8 AM–6 PM.
Submitting this form is not an application for credit and does not lock a rate. See our Privacy Policy. North Point Financial Inc. · Company NMLS #362825 · Equal Housing Opportunity.
Educational content, not financial advice or a rate quote. Loan approval, programs, down payment assistance and terms vary by lender and borrower and are subject to credit approval, program guidelines and property eligibility. North Point Financial Inc. is a mortgage broker, not a lender or a government agency, and is not affiliated with FHA, HUD, the VA, USDA, CHAC, CHFA or any government agency. Down payment assistance is subject to program availability and eligibility.