Buying your first home is one of the biggest financial decisions you will ever make. Most first-time buyers are surprised to find they need less money, qualify for more house, and have more options than they thought. The key is knowing what those options are before you start shopping — not after you fall in love with a house.
Ken and Kirk have guided thousands of first-time buyers through this process since 1997. No junk fees. Wholesale rates. Direct access to the owners — always.
📷 Everything Is Done Virtually — No Office Visit Required
Text or call Kirk or Ken directly, upload your documents securely, and close from your kitchen table. We present every loan option on a live Zoom call with a custom spreadsheet so you can see exactly what each scenario costs. Direct access to the owners — from wherever you are.
The single most important thing a first-time buyer can do is get pre-approved before looking at a single home. Not pre-qualified — pre-approved. Here is the difference and why it matters:
Pre-Qualification vs. Pre-Approval — Know the Difference
Pre-qualification is a quick estimate based on what you tell a lender — no verification, no credit pull, no real weight. Sellers do not take it seriously.
Pre-approval means the lender has actually reviewed your credit, income, and assets and issued a letter confirming you qualify for a specific loan amount at a specific rate. In competitive markets a pre-approval is the price of admission.
We deliver same-day pre-approvals in most cases. We start with a soft credit pull that does not affect your score — and only move to a hard pull when you are ready to formally apply.
Every first-time buyer situation is different. Here is an honest breakdown of every option:
🏠 Conventional — 3% Down
620+ Credit ScoreFannie Mae HomeReady and Freddie Mac Home Possible allow first-time buyers to put as little as 3% down. PMI drops off automatically once you reach 20% equity. Best for buyers with solid credit who want to minimize the down payment without committing to FHA mortgage insurance permanently.
🏠 FHA Loan — 3.5% Down
580+ Credit ScoreThe most popular first-time buyer program for a reason — 3.5% down and flexible credit requirements starting at 580. Mortgage insurance stays for the life of the loan if you put less than 10% down, but for many buyers it is still the right path to get into a home.
✈ VA Loan — 0% Down
Veterans & Active MilitaryIf you have served in the military this is almost always the best loan available to you. Zero down payment, no PMI, competitive wholesale rates. If you are a first-time buyer and a veteran — start here. We verify your eligibility and handle the Certificate of Eligibility process completely.
🌿 USDA Loan — 0% Down
Eligible Rural AreasZero down payment for buyers purchasing in USDA-eligible areas. Many people are surprised to find that areas close to major cities qualify — including parts of Michigan, Florida, Arizona, and Texas. We check any address for USDA eligibility instantly. Often overlooked and almost always worth checking.
The answer is almost always less than first-time buyers expect. Here is the real breakdown:
Down Payment
0–5%VA and USDA — zero. Conventional — 3%. FHA — 3.5%. The 20% rule is a myth for most first-time buyers.
Closing Costs
2–3%Separate from your down payment. Covers title, appraisal, prepaid items. We charge zero junk fees — no processing or admin charges.
Reserves
2 Mo.Most programs require 2 months of housing payments in savings after closing. We tell you the exact requirement upfront — no surprises.
The Zero Junk Fee Difference
Most lenders charge processing fees, underwriting fees, and administrative fees that add $1,500–$2,000 to your closing costs. These fees are not required — they are the lender charging you for their overhead. We have not charged junk fees since 2007. What you see on your Loan Estimate is what you pay.
Get Pre-Approved
We review your credit, income, and assets and issue a pre-approval letter — same day in most cases. You will know your exact budget, rate, and payment before you tour a single home.
Zoom Call — Review Your Loan Options
We build a custom spreadsheet showing every loan option for your situation and walk you through it live on Zoom. You see the full picture and ask questions until it makes complete sense. The spreadsheet is emailed to you after the call.
Shop for Homes
With a real pre-approval and a clear budget, you shop with confidence. Your agent submits offers backed by a credible pre-approval letter that sellers and their agents take seriously.
Under Contract
Once your offer is accepted, we order the appraisal and begin processing your loan. We keep you informed at every step — no surprises, no unexplained delays.
Underwriting
The lender reviews all documentation and issues a loan decision. Most purchases go from pre-approval to clear-to-close in 30–45 days. We stay on top of every condition throughout.
Clear to Close
All conditions are satisfied. Your closing is scheduled. We send you a final breakdown of exactly what you need to bring to the closing table — no last-minute surprises.
Closing Day — You Get Your Keys
You sign the final documents, pay your down payment and closing costs, and get your keys. Done virtually — you can close from your kitchen table. Welcome home.
⚠ Opening new credit before closing
A new car loan, credit card, or any new debt between pre-approval and closing can change your DTI ratio and derail your loan. Do not open anything new until after you have your keys.
⚠ Changing jobs before closing
Lenders verify employment right before closing. A job change — even to a higher-paying position — can delay or kill your loan. Talk to us before making any employment changes.
⚠ Shopping without a pre-approval
Without a pre-approval you are guessing at your budget and cannot make competitive offers. Sellers will not take you seriously without a real pre-approval letter in hand.
⚠ Focusing only on the monthly payment
Property taxes, insurance, HOA fees, and maintenance all add to your real monthly cost. We build the complete picture into every pre-approval so you know the real number.
⚠ Going with the first lender you find
As an independent broker we shop 20+ wholesale lenders on your behalf — so you get the best rate available for your situation without shopping five different companies yourself.
⚠ Assuming you cannot afford to buy
VA and USDA loans require zero down. Conventional starts at 3%. Down payment assistance programs exist in all four states we serve. Talk to us before you assume you cannot buy.
🏛 Michigan
Michigan State Housing Development Authority (MSHDA) offers down payment assistance programs for first-time buyers across Michigan. We work with these programs regularly and will walk you through eligibility and the process.
🌴 Florida
Florida Housing Finance Corporation offers first-time buyer programs including down payment assistance and below-market rate loans across Jacksonville, Sarasota, Lakewood Ranch, and all of our Florida markets.
☀ Arizona
The Arizona Department of Housing and the Home Plus program provide down payment assistance for qualifying first-time buyers across the Phoenix metro and beyond. Ken lives in Gilbert and works with these programs regularly.
⭐ Texas
Texas State Affordable Housing Corporation (TSAHC) and TDHCA both offer first-time buyer programs with down payment assistance across McKinney, Frisco, Prosper, Denton, and the North Dallas corridor.
What credit score do I need to buy my first home?
It depends on the loan type. Conventional loans require 620+. FHA starts at 580. VA and USDA are more flexible with no hard minimum. If your score is below these thresholds we will tell you exactly what steps to take to get there and how long it will realistically take.
Can I buy a home if I have student loans?
Yes. Student loan payments factor into your debt-to-income ratio but they do not disqualify you. We calculate your DTI with your student loans included and show you exactly what purchase price you qualify for.
How long does it take to get pre-approved?
Same day or next business day in most cases. Call or text Kirk or Ken directly at (248) 459-5511 and we will get started immediately.
Do I need a real estate agent?
We strongly recommend working with a buyer's agent — especially as a first-time buyer. A good buyer's agent represents your interests, helps you navigate negotiations and inspections, and does not cost you anything since the seller pays the commission. If you need a referral to a great agent in your market, ask us.
What if I do not have enough for a down payment?
You likely have more options than you think. VA and USDA loans require zero down. Conventional and FHA programs start at 3–3.5%. Down payment assistance programs exist in all four states we serve. Call us before you assume you cannot afford to buy — the answer often surprises people.
What is the difference between a mortgage broker and a bank?
A bank offers its own loan products at its own rates with its own margin built in. As an independent mortgage broker we shop 20+ wholesale lenders on your behalf to find the lowest rate available for your specific situation — and we disclose everything we make on your loan on the Loan Estimate. Banks are not required to disclose their margin. That transparency and access to wholesale rates is the core reason first-time buyers benefit from working with an independent broker.
Start with a free conversation. Kirk or Ken will tell you exactly what you qualify for, what your payment will be, and what it will actually cost — with no pressure and no obligation. Same-day pre-approvals in most cases. Zero junk fees. Direct access to the owners — always.
Or call or text Kirk or Ken directly at (248) 459-5511
First Commerce Financial | Licensed Independent Mortgage Broker | NMLS #137512 | AZ MB #1001354 | Licensed in Michigan, Florida, Arizona, and Texas | Ken Turkington NMLS #137873 | Kirk Chivas NMLS #160828
