First-time buyers
Buying Your First Home in Virginia, Maryland or DC
Your first home purchase comes with new terms and a lot of steps. We’ll help you understand your budget, your loan options and the assistance programs you may qualify for.
Step by step
Six steps to your first home
Here’s the path most first-time buyers follow. We’ll be with you at each step.
- 1
Check your budget
Look at your income, debts and savings to find a comfortable price range.
Affordability calculator - 2
Review your credit
Know where your credit stands. We can explain what lenders look for and how to strengthen it.
- 3
Get pre-qualified
Shop with a pre-qualification letter so sellers know you’re a serious buyer.
- 4
Explore assistance
See whether down payment or closing cost programs can help with your cash to close.
- 5
Find your home
Work with your real estate agent to make an offer. Send us the contract once it’s signed.
- 6
Close and move in
We guide you through processing, underwriting and closing day.
The mortgage process
Loan options
Popular loans for first-time buyers
The right program depends on your credit, savings and service history. We compare them for you.
Down payment help
Assistance programs in Virginia, Maryland and DC
State and local programs can help eligible buyers with the down payment or closing costs.
Virginia
- Virginia Housing loans
First mortgages for eligible buyers from Virginia’s state housing agency.
- Down Payment Assistance Grant
A Virginia Housing grant that helps eligible buyers with their down payment.
- Closing Cost Assistance Grant
A Virginia Housing grant that helps eligible buyers with closing costs.
- Military grants
Virginia Housing grants for eligible active-duty service members and veterans.
Fairfax County, Arlington County and other localities also run their own programs.
Maryland
- Maryland Mortgage Program
First mortgages with down payment assistance for eligible buyers, from the Maryland Department of Housing and Community Development.
Montgomery and Prince George’s counties offer additional local assistance.
Washington, DC
- Home Purchase Assistance Program (HPAP)
Interest-free loans and closing cost assistance for eligible DC home buyers, from the DC Department of Housing and Community Development.
- DC Open Doors
Down payment assistance and first mortgages through the DC Housing Finance Agency.
Program rules, funding and income limits change often, and many programs require homebuyer education or a participating lender. Confirm current details with each program, and ask us which options fit your situation.
FAQ
First-time buyer questions
Who counts as a first-time home buyer?
Many programs define a first-time buyer as someone who hasn’t owned a home in the past three years, so you may qualify even if you owned a home before. Each program sets its own rules.
Do I need perfect credit to buy my first home?
No. Programs such as FHA loans are designed for borrowers with less-than-perfect credit. We review your full situation and explain the options that fit.
Can family help with my down payment?
Usually, yes. Most loan programs accept gift funds from family members, documented with a signed gift letter and records of the transfer.
Do I need to take a homebuyer education course?
Many assistance programs require one, and courses are often available online. They’re worth taking even when they aren’t required.
Ready to take the first step?
Get pre-qualified and find out what you can afford, with no obligation.