Unlocked. Enjoy the full guide, and text me anytime with questions. Jacob
Step 1
Know your number before you shop.
The best first move is not browsing listings. It is deciding what monthly payment feels comfortable for your life, then letting a lender translate that into a price range. Your payment usually includes principal and interest, homeowners insurance, mortgage insurance if your down payment is under 20%, and HOA dues where they apply. Ask your lender for an all-in monthly estimate, not just the rate.
- Credit. Many programs start at a 620 to 640 score, and OHFA programs ask for 640 (conventional, VA, USDA) or 650 (FHA). Pay every bill on time and keep card balances low while you shop.
- Savings. Plan for the down payment, closing costs, inspection and appraisal, plus a cushion for move-in costs.
- Steady income. Lenders typically look at two years of work history. A new job in the same field is usually fine; talk to your lender before any change.
Step 2
Get pre-approved, not just pre-qualified.
A pre-qualification is a quick conversation. A pre-approval means a lender has actually reviewed your documents, and it is what sellers expect to see with your offer. Gather recent pay stubs, two years of W-2s, two months of bank statements and a photo ID. Compare at least two or three lenders on the same day using their official Loan Estimates, and compare the rate, points and lender fees line by line.
Common first-time loan types
- Conventional: as little as 3% down for eligible first-time buyers. Mortgage insurance can be removed later.
- FHA: 3.5% down with flexible credit guidelines. Popular with first-time buyers.
- VA: 0% down for eligible veterans and service members.
- USDA: 0% down in eligible areas, which includes some communities around Columbus.
Step 3
Free money on the table: assistance programs.
Ohio Housing Finance Agency (OHFA) Down Payment Assistance
OHFA offers 30-year fixed-rate loans through participating lenders, plus assistance of 3% of the purchase price on conventional loans or 3.5% on FHA, VA and USDA loans. It can go toward your down payment and closing costs, and it is forgiven after seven years. If you sell within seven years, the assistance is repaid. Income and purchase price limits apply and vary by county. For Franklin County (effective July 1, 2026), the non-target area limits are $109,000 for a 1 to 2 person household and $125,350 for 3 or more. Target-area limits are higher.
OHFA Grants for Grads
If you earned a degree in recent years, Grants for Grads offers the same 3% or 3.5% assistance and is forgiven after five years as long as you stay in Ohio.
OHFA Ohio Heroes
Teachers, nurses, first responders, veterans and other public servants can get a discounted interest rate through Ohio Heroes.
City of Columbus ADDI
For homes inside Columbus city limits, the American Dream Downpayment Initiative offers eligible first-time buyers up to 6% of the purchase price, with a maximum of $14,999, as a forgivable loan after five years of living in the home. You need household income at or below 120% of area median income, a homebuyer education class, and $500 of your own funds.
Program details change. Confirm current terms, limits and availability with an OHFA participating lender or the City of Columbus before you rely on them. I will connect you with lenders who use these programs every week.
Step 4
What it really costs.
| Earnest moneyDue at contract, credited back to you at closing | Often about 1% |
| Home inspectionPaid to the inspector, usually during the inspection period | About $400 to $700 |
| AppraisalOrdered by your lender | About $500 to $750 |
| Down paymentDepends on loan type | 0% to 5% typical |
| Closing costsLender fees, title and settlement, insurance and prepaid items | About 2% to 5% |
| Your agentFor buyers, typically paid by the seller or negotiated into the offer | We discuss upfront |
Closing costs can often be reduced with seller concessions that I negotiate into your offer, lender credits, or the assistance programs above. These ranges are typical for Central Ohio and are not quotes. Your lender’s Loan Estimate will show your real numbers.
Step 5
House hunting, the smart way.
I set up a search that sends new listings the moment they hit the market, then we tour together. I will tell you what I honestly think about every home, including things that are expensive to fix later: the roof, furnace and air conditioner age, water heater, foundation, drainage and windows.
- Columbus moves fast. Strong homes can get offers in days, so having your pre-approval ready matters.
- Neighborhoods vary a lot block by block. We will look at school districts, commute, resale and the feel of the street.
- New construction can be a great first home in Central Ohio, especially when builders offer incentives. See my new construction page.
Step 6
Making an offer that wins and protects you.
I pull recent nearby sales so we know what the home is really worth, then we decide price and terms together. In Ohio, the purchase contract spells out your earnest money, inspection period, financing and appraisal terms, closing date and what stays with the house. The goal is an offer the seller says yes to, with the protections you need still in place.
- Inspection contingency: your window to inspect and ask for repairs or credits.
- Financing and appraisal terms: protect you if the loan or the appraisal falls through.
- Seller concessions: a credit toward your closing costs, often worth more than a small price cut.
Step 7
Inspections: what to expect.
Book a licensed home inspector right after your offer is accepted. Plan on two to four hours, and come for the last hour so the inspector can walk you through it. Depending on the home, I may recommend add-ons such as a radon test, a sewer line scope for older homes, or a wood-destroying insect check. After the report, we decide together what to ask for: repairs, a credit at closing, or a price adjustment. Focus on safety, structure and big systems, not cosmetic items.
Step 8
From contract to keys.
| Days 1 to 10Inspection, repair requests, earnest money delivered | Week 1 to 2 |
| Days 7 to 21Appraisal, loan underwriting, homeowners insurance | Week 2 to 3 |
| Days 21 to 30Title work, clear to close, Closing Disclosure | Week 3 to 4 |
| Closing dayFinal walkthrough, signing at the title company | About 30 to 45 days |
You will receive your Closing Disclosure at least three business days before closing. Compare it with your Loan Estimate and bring any questions to me and your lender. On closing day, we do a final walkthrough, you sign at the title company, the funds are wired, and you get your keys.
Your first-time buyer checklist
- Pick your comfortable monthly payment
- Get pre-approved and compare lenders
- Ask about OHFA and Columbus ADDI
- Take a homebuyer education class if your program needs one
- Tour, offer and negotiate with me
- Inspect, appraise and lock your rate
- Review your Closing Disclosure
- Final walkthrough, sign, keys
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Jacob Bates