Buying your first home can feel like trying to solve a giant puzzle where the pieces keep moving. Between fluctuating interest rates, complex loan programs like CalHFA and FHA, and the pressure of finding the perfect neighborhood, it’s easy to feel overwhelmed. But here’s the good news: you don’t have to do it alone.
At Maya Team Inc., we specialize in turning that "maybe someday" into "welcome home." Whether you are looking to move into your very first condo or a sprawling four-unit investment property, we have the tools and the heart to guide you through every step.
What is the First Step to Buying a Home?
The short answer: Get your finances in order and find an expert partner. Before you even look at a single house on your favorite app, you need to know exactly how much you can afford and which programs are available to help you. In California, we have incredible resources like the CalHFA FHA program, which can provide down payment assistance to eligible buyers.
Why Partner with Maya Team Inc.?
We aren’t just here to sign papers. We are authoritative educators and professional consultants. We prioritize your information over a quick sale.
- Rony Velasquez is our Real Estate and Mortgage Broker, Realtor®, and Mortgage Loan Originator (MLO).
- Mona Bottros is our Realtor® and Office Manager.
Together, we ensure that you understand the "why" behind every "how."
Understanding Your Loan Options
Navigating the mortgage world is about finding the right "fit" for your unique financial situation. Here is a breakdown of the most common paths for first-time buyers in 2026.
The FHA Loan: A First-Time Buyer's Best Friend
FHA loans are backed by the Federal Housing Administration. They are famous for being flexible with credit scores and requiring a low down payment of only three point five percent.
CalHFA: California’s Helping Hand
The California Housing Finance Agency (CalHFA) offers special programs that layer on top of your FHA or conventional loan. This can help cover your down payment or closing costs.
- Typical Credit Score: You generally need a score of six hundred sixty to six hundred eighty or higher.
- Income Limits: These programs are designed for low-to-moderate-income earners and have specific caps depending on your county.
- Education: You must complete a state-approved homebuyer education course.
Fannie Mae and Freddie Mac (Conventional Loans)
For those with higher credit scores, conventional loans can offer competitive rates. Some programs even allow for as little as three percent down or provide special options for two-to-four unit properties.
Your Step-by-Step Roadmap to Homeownership
Buying a home is a marathon, not a sprint. Follow this structured process to stay on track.
- Assess Your Credit and Income: Know your FICO score. If it’s below six hundred sixty, we should work together on a credit improvement plan immediately.
- Gather Your Documents: You’ll need paycheck stubs, tax returns from the last two years, and bank statements showing your savings.
- Get Pre-Approved: This is different from "pre-qualified." A pre-approval means a Mortgage Loan Originator (MLO) like Rony Velasquez has actually verified your data.
- Complete Your Education: If you’re using CalHFA, sign up for the eHome online course. It usually costs about one hundred dollars and is worth every penny.
- Start the Hunt: This is where Mona Bottros, our Realtor® and Office Manager, helps you find a home that meets your needs and your budget.
- Make an Offer and Inspect: Once you find "the one," we’ll help you negotiate a fair price and ensure the home is in good condition with a professional inspection.
- Underwriting and Closing: Your loan goes through a final review (underwriting). Once approved, you sign the final documents, and we hand you the keys!
How to Improve Your Credit Score for a Mortgage
If your credit isn't quite where it needs to be, don't panic. Small changes can lead to big jumps in your score over six to twelve months.
- Utilization is Key: Try to keep your credit card balances below thirty percent of your limit. If you have a card with a one thousand dollar limit, don't carry a balance higher than three hundred dollars.
- Auto-Pay Everything: Even one late payment can tank your score. Set every bill to at least the minimum payment on auto-pay.
- Don't Open New Accounts: Every time you apply for a new credit card or car loan, your score takes a temporary hit. Hold off on new credit until after you have your house keys.
Essential Homebuyer Checklist
Before you head out to look at houses this weekend, make sure you can check off these boxes:
- I know my current credit score is at least five hundred eighty (for FHA) or six hundred sixty (for CalHFA).
- I have saved at least three point five percent of my target home price, plus a little extra for closing costs.
- I have a steady income history for the last two years.
- I have spoken with Rony Velasquez to get a formal pre-approval.
- I am ready to live in the property as my primary residence.
What are "Closing Costs"?
We get this question a lot. Closing costs are the fees paid at the end of a real estate transaction. They usually range from two percent to five percent of the purchase price. They cover things like:
- Loan origination fees.
- Title insurance.
- Appraisal fees (to make sure the house is worth what you're paying).
- Government recording fees.
If you are worried about having enough cash, some programs allow the seller to pay a portion of these for you, or you can use assistance programs to bridge the gap.
Ready to Start Your Journey?
At Maya Team Inc., we believe that homeownership is the foundation of wealth and stability. Whether you are a first-time buyer or looking to sell your current home and upgrade, we are here to provide the guidance you deserve.
Don't let the complex jargon of the "mortgage world" hold you back. We speak the language of "home," and we can't wait to help you find yours.
Connect with us today!
- Visit our community: https://nas.io/mayateaminc
- Follow us on social media for daily tips and market updates.
- Call or Message us to schedule your free consultation with Rony and Mona.
Let's make two thousand twenty-six the year you become a homeowner!
