What to Know Before Buying Your First Home

First-Time Homebuyer Basics

Buying your first home is a huge milestone, but it’s normal to feel a little lost. You’ll need to figure out your budget, understand mortgage options, and prepare for extra costs like down payments and closing fees. The good news? Chestnut’s here to make the process smooth and stress-free. Whether you’re eyeing a cozy starter home or a place to grow into, knowing the basics sets you up for success.

Why Preapproval Matters

Getting preapproved for a home loan isn’t just a formality—it’s your ticket to shopping with confidence. Sellers take preapproved buyers seriously, especially in competitive markets. At Chestnut, we use proprietary technology to speed up mortgage preapproval, cutting through the usual delays. No mountains of paperwork or weeks of waiting—just a fast, clear answer so you can start hunting for your dream home. Plus, our platform finds you competitive rates, saving you money from day one.

Breaking Down the Costs

Your mortgage is the big piece, but there’s more to plan for. Down payments typically range from 3% to 20%, depending on your loan type—think $6,000 to $40,000 on a $200,000 home. Then there are closing costs (2-5% of the loan), inspections, and insurance. It adds up fast, but Chestnut’s tech keeps it manageable. We analyze your options to secure lower rates and trim unnecessary fees, so you’re not overpaying. Over the life of your loan, those savings could mean thousands back in your pocket.

Tips to Get Ready

Start by checking your credit score—higher scores unlock better mortgage rates. Pull together documents like pay stubs, tax returns, and bank statements; it’s easier than you think. Not sure where to begin? Chestnut’s modern approach guides you step-by-step, reducing stress with a process built for first-timers. Our team’s handled over $85 billion in loan volume, so we know how to make this work for you.

Avoid Common Pitfalls

New buyers often underestimate costs or skip preapproval, losing out to prepared bidders. Don’t let that be you. With Chestnut, you’re ahead of the game—our tech spots potential hiccups early and keeps things moving. Imagine walking into your new home knowing you saved time and money, all because you started smart.

Take the First Step

Ready to buy your first home? Chestnut’s here with a faster, cheaper, and less stressful way to get there. Our technology delivers a mortgage experience that’s truly modern. Get preapproved today and turn your dream into keys in hand!