The short answer
Buying your first home starts with understanding three numbers: the monthly payment you're comfortable with, the cash you'll need to close, and the loan options you may qualify for. A preapproval conversation turns those into a plan.
Reviewed by Jennifer Reich, Branch Manager, NMLS 162239 · Last reviewed October 16, 2026
Where should a first-time buyer begin?
Start before you tour homes. A conversation with Jennifer helps you understand your price range, the loan options worth comparing, and what documents to gather. That way, when you find the right home, you can move with confidence.
- Review your budget and comfortable monthly payment
- Check your credit and talk through anything unexpected
- Estimate cash to close — down payment plus closing costs and reserves
- Get preapproved before making offers
Which loans do first-time buyers often compare?
Many first-time buyers compare conventional loans — some of which allow low down payments for eligible borrowers — with FHA loans. Eligible veterans and service members should also explore VA financing. The right choice depends on your credit, down payment, and long-term plans, not a one-size rule.
What about down payment assistance?
Utah has down payment assistance resources, including programs offered through Utah Housing Corporation. Eligibility rules, funding, and availability change, so ask Jennifer which options she can currently offer and whether they fit your situation.
Questions to ask Jennifer
- What price range makes sense for my budget, not just my approval?
- Conventional or FHA — which costs less for me over time?
- How much should I keep in savings after closing?
- What happens between preapproval and closing?