First-time buyers · California · Realtor & loan officer in one
Nobody is born knowing how to buy a house.
So here is the whole thing, start to finish. What happens at each step, what it costs, what the words mean, and what to do when something goes sideways. Read it all or skip to the part you're stuck on.
- 01
It's free to ask
A first conversation is not an application, costs nothing and puts nothing on your credit.
- 02
One person, not four
I'm your Realtor and your loan officer, so the house and the financing move at the same time.
- 03
No question is too basic
The ones people apologise for asking are usually the ones that matter most.
California families
The process
What actually happens, in order
Nine steps. The first three cost you nothing and can happen this week. Most people are surprised how much of this is waiting, and how little of it is paperwork you have to understand alone.
- 1
We talk
About 30 minutesYou tell me where you are. I tell you what's realistic. Nothing is filled in, nothing is pulled, nothing is committed. If the answer is that you should wait six months and do two specific things first, that's a good outcome and you've lost nothing finding out.
- 2
Pre-approval
1 to 3 daysNow we look at real numbers. Pay stubs, W-2s or tax returns if you're self-employed, bank statements, and a credit pull. You come out with a letter saying what you can borrow, which is the thing a seller actually takes seriously.
- 3
Your real budget
Same dayWhat you can borrow and what you want to pay every month are two different numbers, and the second one is the one that matters. We work backwards from the payment you're comfortable with, including taxes and insurance, and that sets the price range we shop in.
- 4
Looking at houses
Weeks to monthsThe part everyone pictures, and the part with the least paperwork. We see places, you tell me what you liked and hated, and the search gets sharper. There is no fixed number of houses. Some people know on the third, some on the thirtieth.
- 5
The offer
1 to 3 days to hear backPrice is one line of it. The rest is terms: how long you need, what you're asking the seller to fix or pay, and which contingencies you keep. In a competitive market the terms are often what wins, not the biggest number.
- 6
Escrow opens
Within 3 days of acceptanceA neutral third party holds the money and the paperwork until everyone has done what they promised. Your earnest money deposit goes in here. It is not an extra cost, it counts toward your down payment.
- 7
Inspections and appraisal
Week 1 to 3You pay for an inspector to find everything wrong with the house, which is money well spent even when it's bad news. The lender orders an appraisal to confirm the house is worth what you agreed to pay. Either one can reopen the negotiation.
- 8
Underwriting
Week 2 to 4The quiet, nerve-wracking part. Underwriting checks every number against a document. They will ask for things you already sent, and they will ask about that one deposit from your cousin. This is normal. Do not change jobs, open a credit card or buy a car until you have keys.
- 9
Signing and keys
Usually day 30 to 45You sign a stack, the loan funds, the sale records with the county, and the house is yours. First-time buyers usually tell me the signing felt shorter than they expected and the drive over felt longer.
Timings are typical, not guaranteed. Your file, your lender and the house all move the clock.
Money
What it costs, and when you pay it
The down payment is the number everyone knows about and it is rarely the one that trips people up. Here is everything, including the parts you pay before you own anything.
What
Earnest money deposit
How much
Typically 1% to 3% of the price
When
Within about 3 days of your offer being accepted
What
Home inspection
How much
Varies by property and county. I'll give you real numbers for the homes you're actually looking at.
When
Out of pocket, before you're committed
What
Appraisal
How much
Varies by property and lender
When
Usually charged up front
What
Down payment
How much
0% to 20% depending on the loan
When
At closing
What
Closing costs
How much
Typically 2% to 5% of the price
When
At closing
What
First year of taxes and insurance
How much
Depends on the county and the house
When
Often collected at closing
- Your earnest money is not an extra cost. It goes toward your down payment.
- Closing costs are sometimes partly or fully paid by the seller. That is something we ask for in the offer, and whether it's realistic depends on the market that month.
- Nothing in this table is a quote. Once I know the price range and the county, I can give you the actual figures for your situation.
Financing
The main ways people buy a first home
There is no best loan, only the one that fits what you have and what you're buying. Most first-time buyers I work with land on one of these three.
Loan
Conventional
Down payment
As little as 3%
Who it usually fits
Steady income and reasonable credit. Mortgage insurance comes off once you have enough equity, which is the big advantage.
Loan
FHA
Down payment
As little as 3.5%
Who it usually fits
Credit that's still recovering, or a thinner file. More forgiving to qualify for, with mortgage insurance that usually stays for the life of the loan.
Loan
VA
Down payment
0% for eligible service
Who it usually fits
Veterans, active duty and some surviving spouses. No down payment and no monthly mortgage insurance. If you qualify for this, start here.
Program minimums shown are the structural rules, not an offer of credit or a statement that you will qualify. Credit, income, the property and current program rules all decide what you can actually get. Ask me and I'll tell you where you stand.
Down payment help
You may not need to save the whole thing
California runs assistance programs for first-time buyers, and so do some counties and cities. They change often, they run out of money, and the rules are not the same from one to the next. I can originate them, so the useful thing is to ask me what's actually open when you're ready rather than read a list that went stale months ago.
Ask me what's available nowCredit
About your credit, honestly
Tell me the real number, or tell me you don't know it. Both are fine. What I'd rather avoid is you deciding on your own that the answer is no and never asking. That happens constantly and it costs people years.
A credit pull for a mortgage is a hard inquiry and it can nudge your score down a few points. Shopping several mortgage lenders in a short window is generally treated as one event by the scoring models, so comparing is not the thing that hurts you.
If your credit does need work, it is usually a short, specific list rather than a vague project. Sometimes it's a few months. Sometimes it's a single correction and you're already fine.
Translation
The words nobody explains to you
You will hear all of these in your first month. None of them are as complicated as they sound.
- Pre-qualified vs pre-approved
- Pre-qualified is an estimate based on what you told someone. Pre-approved means documents were checked and credit was pulled. Sellers care about the second one.
- Earnest money
- A deposit that shows you're serious. It sits in escrow and counts toward your down payment.
- Escrow
- A neutral third party that holds the money and paperwork until both sides have done what they agreed to.
- Contingency
- A condition you keep in the contract that lets you walk away and keep your deposit. Common ones cover the inspection, the appraisal and the loan.
- Appraisal
- The lender's independent opinion of what the house is worth. If it comes in below your offer, the gap becomes a negotiation.
- Underwriting
- The lender verifying that every number you gave them is backed by a document.
- DTI (debt-to-income)
- What share of your monthly income already goes to debt payments. It matters more to a lender than your salary does.
- Mortgage insurance
- An extra monthly amount charged when you put less than 20% down. On a conventional loan it comes off eventually. On FHA it usually doesn't.
- Points
- Money paid up front to lower your rate. Worth it or not depending entirely on how long you keep the loan.
- Loan Estimate
- A standard three-page form showing your costs. Every lender has to use the same format, which is what makes offers comparable.
- Impound or escrow account
- The lender collecting your property taxes and insurance monthly along with the payment, then paying them for you.
- Title insurance
- Protection against someone turning up later with a claim on the property.
- Contingency removal
- The point where you formally give up one of your outs. After this, walking away can cost you your deposit.
- Closing disclosure
- The final numbers, delivered at least three business days before you sign so you can check them against the estimate.
Ask me anything
Questions people say sorry for asking
None of these need an apology. Several of them are the reason somebody didn't buy a house for three years.
Do I really need 20% down?
No, and this one belief keeps more people renting than anything else I see. Conventional loans start as low as 3% down, FHA at 3.5%, and VA at nothing for those who qualify. Putting less down means mortgage insurance and a bigger payment, so it's a trade, not a free lunch. But it is a trade you're allowed to make.
How much do I actually need saved?
Down payment plus closing costs plus the inspection, and a cushion left over so you're not moving in with nothing. That total is much more answerable once I know your price range and county. It's usually less than people assume and more than the down payment alone.
What if my credit isn't good?
Tell me anyway. I'd rather look at the real numbers and tell you where you stand than have you assume the answer is no. Sometimes it's a few months of specific work. Sometimes it's nothing at all and you've been worrying for no reason.
Will talking to you put something on my credit?
No. A conversation is not an application. Nothing gets pulled until you tell me to pull it, and I'll tell you before I do.
I've owned a home before. Am I still a first-time buyer?
Possibly. Many programs define a first-time buyer as someone who hasn't owned a home in the last three years, so people who sold a while ago often qualify again. It's worth checking rather than assuming you're out.
I'm self-employed or 1099. Is that a problem?
It's more paperwork, not a wall. Expect to show two years of returns and expect questions about what you wrote off, because write-offs that lower your taxes also lower the income a lender counts. Worth planning a year ahead if you can.
How long does the whole thing take?
From accepted offer to keys is commonly 30 to 45 days. The part before that, the looking, has no fixed length at all. One of my clients went from first conversation to homeowner in a month. That is fast and not what I'd promise anyone.
What happens if the deal falls apart?
Sometimes it does. Inspections find something serious, an appraisal comes in low, or a seller changes their mind. If your contingencies are still in place you get your deposit back and we start looking again. That is exactly what contingencies are for, and it is why I am careful about when you give them up.
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Years in real estate & lending
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California families helped
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Five-star reviews on Yelp
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Person handling the house and the loan
About
Miranda Trujillo
Hi, I'm Miranda. Twenty-four years in, I've helped hundreds of Bay Area families buy their first place, and the first conversation nearly always starts with an apology for not knowing something.
- Licensed California Realtor — DRE #02117598
- Licensed Loan Officer — NMLS #1438118
- Realtor and lender in one, so the house and the loan move together
- 24+ years in real estate and lending
- 300+ California families helped
- Based in the SF Bay Area · serving all of California
“You should walk out of our first conversation knowing what you can afford, what you'd need saved, and what to do next. That's the whole job.”
First-time buyers
People who were exactly where you are
Rated 5.0 out of 5 on Yelp · all 7 reviews
As a first-time home buyer, I was absolutely clueless, and honestly a bit petrified, after hearing so many horror stories about the home buying process. That all changed the moment I started working with Miranda. She guided me through every step of the process with clarity, patience, and unwavering support. In just one month, I went from a nervous buyer to a proud homeowner, something I never thought possible.
Dallas F.San Francisco, CA · June 2025 · posted by Vanessa H.
Reviews are from my Yelp profile and reflect individual experiences. Results are not guaranteed and will vary.
Start with a conversation.
It's free, it isn't an application, and it puts nothing on your credit. Worst case you find out what to do for six months and come back.
Contact
Ask me the basic one.
The question you think is too obvious to ask is usually the one holding everything up. Send it over and I'll answer it.
This isn't an application and nothing gets pulled. Email me, call me, or let's grab a coffee.
I usually reply within a day or two.
Or reach me directly
