First Time Buyers

Your Way Home: A First-Time Buyer's Guide

At Valera Homes, we know that everyone’s path to homeownership is uniquely their own. Whether you’re ready to stop renting or just starting to explore what’s possible, this guide walks you through each step, from setting your budget to getting your keys, so you can move forward with confidence. Owning a quality-built home with modern style and smart design may be more within reach than you think.

Step 1: Know Your Budget

Every confident first step starts with a clear picture of what you can comfortably afford. Your income, savings, existing debts, and monthly expenses all shape the number that's right for you, and knowing it up front lets you shop with clarity instead of guesswork. Our team will walk you through your options and help you set a budget that fits both your lifestyle and your long-term goals. Plan for your down payment early. It's your first real step toward ownership, and it may be smaller than you expect: some eligible buyers can put down as little as 3.5% with certain loan programs, such as an FHA loan. Your lender can help you understand which programs you may qualify for.

Step 2: Get Pre-Approved

With your budget in mind, the next step is getting pre-approved for a mortgage. Pre-approval shows how much you can borrow, helps you focus on homes that fit, and shows you're a serious buyer. A lender will guide you through the process, and once you have your pre-approval letter in hand, you're ready to shop with confidence.

Step 3: Define What Home Means to You

Your home should fit the way you live, not the other way around. Do you want an open-concept layout for gathering with friends, or a flexible space to work from home? Three bedrooms or four? A covered patio, a kitchen pantry, a private owner's suite? Thinking through the design, features, and layout that matter most will help you find a space that feels uniquely your own. Not sure yet? That's what we're here for. Our team will help you explore floor plans and finishes until you find the right fit.

Step 4: Find Your Neighborhood

The right home deserves the right neighborhood. Think about what matters most in your day-to-day: your commute, schools, parks and trails, shopping and dining, or room to grow. Visit communities at different times of day, walk the streets, and get a feel for the people and places around you. This is where your next chapter will unfold, so choose a community that feels like home before you even move in.

Step 5: Secure Your Financing

Found the one? Now it's time to secure your financing. Our team will work alongside your lender to finalize your mortgage, confirm your down payment, review your loan terms, and make sure every detail is in place for closing. With your financing locked in, you're one step away from your front door.

Final Step: Closing Day - Your Keys Await

Closing day is the moment your home officially becomes yours. You'll review and sign the final paperwork, wrap up any remaining details with your lender, and then receive the keys to your new home. Just like that, you're a homeowner.

After Closing: Welcome Home

As you settle in, a few smart habits will help protect your investment. Keep up with regular maintenance so your home looks and performs its best, make sure you're covered with homeowners' insurance, and plan ahead for property taxes and any Homeowners' Association (HOA) fees. These are simply part of owning, and you won't navigate them alone. The Valera Homes team will be with you long after closing, helping ensure your home remains a place you're proud of for years to come.

Now it's time to make it yours. Welcome home.

Home Loan Do’s & Don’ts

Congratulations on the next step of securing your dream home! Once you’ve applied for a mortgage, it is important to keep your path to homeownership on track.

Here are some important Do’s and Don’ts to ensure don’t delay your closing, or worse, lose out on your dream home.

Home Loan Do's

Stay Current on Existing Accounts

Like your mortgage and car payments, one 30-day late notice will cost you.

Keep All Documents

Keep all documentation on any deposits made into your account. Keep copies of earnest money deposits.

Keep Using Credit as Usual

Keep credit balances between 10%-30% of your limit and don't dispute accounts during the loan process

Keep Your Originals

Please send us updated pay stubs and bank statements if our current copies are over 30 days old prior to closing.

Provide Documentation for Your Home Sale

We need your sales contract, closing statement (HUD-1/Closing Disclosure), and proof of proceeds.

Contact Us if Your Employment or Marital Status Changes

If you change employment, get a raise, or have a leave of absence, we need to know. If you get married, notify us.

Home Loan Don'ts

Don't Apply for New Credit

If you apply for new credit, it can lower your score. Avoid new credit lines for furniture, appliances, or other purchases.

Don't Pay Off Collections or Charge Offs

Unless required for your loan, paying old collections can lower your credit score.

Don't Close Credit Card Accounts

Closing accounts affects your debt-to-credit ratio, impacting your score.

Don't Change or Move Assets

Don't change investments, close accounts, open new accounts, or substantially change your asset picture without contacting us first.

Don't Make Large Unverified Deposits

Any non-payroll deposits will need to be explained and documented for underwriting. Cash deposits cannot be used.

Don't Make Changes to Your Employment

Employment stability is a big factor in the underwriting process. Quitting or changing jobs can endanger your loan approva

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Monthly Payments That Make Sense

Owning a home may be more affordable than you think. Our preferred lenders can help you explore financing options, estimate monthly payments, and determine what works for your budget.