Cash to close
Cash to close isn't your down payment. It's the down payment plus closing costs and prepaid taxes and insurance, minus any credits. On a $300,000 home, closing costs alone often run several thousand dollars.
First-time homebuyers in Virginia
Your first home. No guesswork.
- Know your real payment before you shop, taxes and insurance included
- Down payment options from 0% to 3.5%, plus assistance programs
- A cash-to-close plan in writing, so the closing table holds no surprises
Serving all of Virginia
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A loan officer will reach out within one business day. Want to talk sooner? Call (757) 573-0940.
Before you shop
Three numbers nobody explains.
Most first-time buyers find these out at the closing table. You'll know them before you make an offer.
Your credit score
Your score isn't just a yes or no. It sets your rate and your mortgage insurance cost. FHA allows 3.5% down at 580 and up. Conventional loans generally start at 620.
How much house
We compare your monthly debts, including the new payment, to your gross income. That ratio decides your ceiling. A $400 car payment can move it more than you'd expect.
How it works
Three steps to a real number.
Tell us your goals
A short call about income, savings and timing. No forms to fill out first.
Get your numbers
Price range, monthly payment and cash to close. All of it, in writing.
Shop with confidence
Your pre-approval letter goes to your agent. We stay on call through closing.
Brian was such a blessing to us during our home buying experience. From day one he kept us informed of what was going on, and what the next step was. … Forever thankful to have had such a great first time home buying experience.
First-timer questions
Quick answers. Call us for the long ones.
Do I need 20% down?
No. VA and USDA loans can be 0% down for eligible buyers. FHA starts at 3.5%. Some conventional loans start at 3%. Putting less down usually means mortgage insurance, and we'll show you that cost too.
Is there help with the down payment?
Often, yes. Virginia Housing and some local programs offer down payment and closing cost assistance for buyers who qualify. Gift funds from family are also allowed on many loans. Rules and income limits vary, so ask us what fits you.
Should I get pre-approved or find a house first?
Talk to us first. A pre-approval tells you your real price range, and most sellers expect one with your offer. It also gives you time to fix anything on your credit before it costs you a house.
Buy your first home with a plan.
Talk to a Virginia loan officer who explains every number.