Your Path to Homeownership
Buying your first home is exciting—and we know it can feel overwhelming. This guide breaks down everything you need to know, from pre-approval to getting your keys.
The Home Buying Process
Six steps from dreaming to owning. We'll be with you every step of the way.
Before you start shopping, get pre-approved for a mortgage. This tells you exactly how much home you can afford and shows sellers you're a serious buyer.
- Check your credit score (aim for 620+)
- Gather pay stubs, tax returns, and bank statements
- Get quotes from 2-3 lenders to compare rates
Partner with a local real estate agent who knows the market and will advocate for your interests throughout the process.
- Look for experience with first-time buyers
- Choose someone who knows your target neighborhoods
- Buyer's agents are typically free to you (paid by seller)
Create your must-have list and start touring homes. Your agent will set up searches and schedule showings.
- Separate "must-haves" from "nice-to-haves"
- Visit neighborhoods at different times of day
- Don't skip homes based on photos alone
Found the one? Your agent will help you craft a competitive offer and negotiate terms with the seller.
- Your agent will analyze comparable sales
- Consider including an earnest money deposit
- Be prepared for possible counteroffers
Once under contract, you'll have inspections, finalize your mortgage, and prepare for closing.
- Always get a home inspection
- Review the title report carefully
- Stay in touch with your lender
Sign the papers, get your keys, and celebrate becoming a homeowner!
- Do a final walkthrough before closing
- Bring ID and any required funds to closing
- Set up utilities before move-in day
Minnesota First-Time Buyer Programs
Minnesota offers several programs to help first-time buyers with down payments and closing costs.
Minnesota Housing Start Up Program
Down payment and closing cost assistance for first-time buyers
Minnesota Housing Mortgage Credit Certificate
Tax credit for a portion of mortgage interest paid
USDA Rural Development Loans
Zero down payment loans for eligible rural areas (some east metro qualifies)
Mistakes to Avoid
First-time buyers often stumble on these common pitfalls. We help you steer clear.
- Making major purchases (cars, furniture) before closing
- Changing jobs during the buying process
- Skipping the home inspection to save money
- Not getting pre-approved before house hunting
- Draining your savings for the down payment
- Letting emotions override your budget
Frequently Asked Questions
How much do I need for a down payment?
While 20% down avoids PMI, many first-time buyers put down 3-5% with FHA or conventional loans. Minnesota programs can help with down payment assistance.
What credit score do I need to buy a home?
Most conventional loans require 620+ (Source: Consumer Financial Protection Bureau). FHA loans may accept 580+. Higher scores get better interest rates. If your score is low, focus on improving it before applying.
How long does it take to buy a house?
From first search to closing, plan for 2-4 months. Once you're under contract, closing typically takes 30-45 days.
Do I need a real estate agent?
While not legally required, a buyer's agent advocates for your interests, negotiates on your behalf, and guides you through the complex process. Typically at no cost to you.
What's included in closing costs?
Expect 2-5% of the purchase price (Source: National Association of Realtors) for loan fees, title insurance, escrow, inspections, and prepaid items like property taxes and homeowner's insurance.
Should I buy or rent?
It depends on your financial situation, how long you plan to stay, and local market conditions. Generally, buying makes sense if you plan to stay 3+ years.
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What Our Clients Say
From families we've helped find their home.
“Anne Marie and her team made the home-buying experience easy and informative. I would highly recommend them.”
Sam Smith
“Anne Marie was so great to work with—knowledgeable, helpful, and always making sure we understood what was going on as first-time homebuyers. Since we were living far from where we were buying, she accommodated FaceTime tours and worked around our schedule.”
Kayla Elles
Ready to Start Your Journey?
As first-time buyer specialists, we make the process simple and stress-free. Let's talk about your goals.