I don't want to rent anymore

Good afternoon Collette! Your first step is going to speak with a mortgage professional so you can get an understanding of what you can afford and what your monthly payments will look like, along with down payment requirements and closing cost requirements. Best of luck with your search! Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Here’s the honest answer. You don’t need perfect savings, but you do need some plan in motion. For most first-time buyers, you’re looking at 3% to 3.5% down with programs like FHA or conventional. On top of that, there are closing costs, but many people use assistance programs or seller credits to help cover those. With zero saved right now, step one isn’t house shopping yet. It’s getting positioned. Start here: Talk to a lender and see where you stand. They can often do a soft check and tell you what you’d need. Work on a small starter fund. Even a few thousand can open doors with assistance programs. Check first-time buyer programs in your area. Some help with down payment and closing costs. You don’t need to stay stuck renting, but the move is to prepare for a few months, not rush in with nothing. Most people who buy started exactly where you are. They just took the first step and built from there.

First — you’re not alone. A huge number of first‑time buyers start exactly where you are: tired of paying a landlord, wanting stability, and feeling like saving a big down payment is impossible. The good news is you don’t need to have everything figured out or have a huge pile of cash saved to start the process. Let’s break it down clearly. 1. You can buy a home with little to no savings There are real loan programs designed for buyers who don’t have a large down payment: - FHA loans: as low as 3.5% down - Conventional first‑time buyer programs: 3% down - VA loans: 0% down (if eligible) - USDA loans: 0% down (in certain areas) And in many cases, your down payment can come from grants, assistance programs, or even a gift. You don’t need 20%. You don’t need perfect savings. You need a plan. 2. There are grants and assistance programs that can help Depending on where you’re buying, you may qualify for: - First‑time buyer grants - Down payment assistance - Closing cost help - City or state programs - Lender‑specific credits Some programs cover all or part of your down payment, which is exactly what buyers in your situation use to get started. 3. Your first step isn’t saving — it’s talking to a lender A lender will help you understand: - What price range you qualify for - What programs you’re eligible for - How much (if anything) you actually need to save - What your monthly payment would look like - What steps you can take over the next few months to get ready Most people are shocked to learn they’re closer than they thought. 4. You don’t need to be “ready” to start the conversation You don’t need: - A down payment - Perfect credit - A full plan - A timeline You just need to start the conversation so you know what’s realistic and what steps to take next. 5. The real path looks like this Here’s the simple version of how people in your exact situation become homeowners: - Talk to a lender to see what programs you qualify for - Get a realistic price range - Explore grants and assistance - Create a small, manageable savings plan (if needed) - Start looking at homes that fit your budget - Buy when the right one appears You don’t need to do all of this today. You just need to take the first step. Bottom Line You’re not stuck. You’re not behind. You’re not the only one who feels this way. You’re exactly where most first‑time buyers start — and there is a path forward, even with no savings right now. The key is getting clarity early so you can move with confidence instead of stress. If you want, I can also create: - a step‑by‑step “first‑time buyer roadmap”, - a grant‑focused version of this answer, - or a script you can use in buyer consultations.

Start with your budget, not the house. Talk to a lender and ask what payment you could realistically handle each month. You do not always need 20% down. Some loans let you buy with 3% down, and there are first-time buyer programs that can help with closing costs. If you have nothing saved yet, focus on credit, debt, and building a small emergency fund first.

Hi Collette, I would recommend reaching out to an agent in your community to help give you recommendations to lenders, programs, or who can help really get the ball rolling for you specifically. Try and find an agent who has worked with "first-time home buyers" as they are more likely to have the guidance to help get you going. To answer your question of how much money do you need. It varies. Most buyers need some upfront money, even with low-down-payment programs. Typical costs include: • Down payment: can be as low as 3–3.5% of the home price (sometimes 0% with special loans) • Closing costs: usually 2–5% of the price • Emergency savings: lenders like to see a small cushion after you buy If you truly have $0 saved, focus first on: • Building a small savings fund (even $3k–$10k is a solid start) • Checking your credit score (this affects your loan options) • Looking into first-time buyer programs in Texas—they can help with down payment assistance. Asking questions is the best place to start! Wishing you all the best and happy buying! Alāna Mey Real Estate Broker in Bellingham, WA Compass www.AlanaMey.com