Ready to Stop Renting and Start Owning?
You don't need perfect credit or a huge down payment. Learn what it really takes to buy your first home in Washington State.
Get Your Free Homeowner AuditWhy Homeownership Matters
Every month you rent, you're paying someone else's mortgage. Here's what changes when you own:
💡 The Rent vs. Own Reality
Pay $2,000/month rent for 5 years = $120,000 spent, $0 equity. Pay $2,200/month mortgage for 5 years = $132,000 paid, but you own ~$50,000-$70,000 in equity plus tax benefits.
From Renter to Homeowner: The Real Steps
No BS. Here's what actually happens:
Step 1: Know Where You Stand (That's the Audit)
Before anything else, you need to know your numbers. The Homeowner Audit shows you:
- Your real credit score and what's affecting it
- How much home you can actually afford
- What loan programs you qualify for right now
- Exactly what needs to improve (if anything)
Step 2: Fix What Needs Fixing (Usually 3-6 Months)
Most people need some prep work. Common fixes:
- Pay down credit cards below 30% utilization
- Dispute errors on credit reports
- Save for down payment (as little as 3.5%)
- Stabilize employment if recently changed jobs
Step 3: Get Pre-Approved (The Real Deal)
Not pre-qualified. Pre-approved means:
- Lender has verified your income, assets, and credit
- You know your exact budget
- Sellers take your offers seriously
- You can close in 30-45 days
Step 4: Find Your Home & Make It Official
With pre-approval in hand:
- Work with an agent who knows your market
- Make competitive offers on homes you love
- Navigate inspections and appraisals
- Close and get your keys (usually 30-45 days)
🏡 Washington 2026 Homeownership Program
Eligible first-time buyers can receive up to $1,500 in closing cost credits. We'll show you if you qualify.
The Money Stuff Everyone Asks About
Credit Score: What You Actually Need
580+ gets you an FHA loan with 3.5% down. 620+ opens up conventional loans with better terms. Below 580? You can still qualify with 10% down or by improving your score in 60-90 days.
Quick wins to boost your score:
- Pay credit cards below 30% of limit (biggest impact)
- Dispute any errors on your credit report
- Don't close old accounts or open new ones
- Become an authorized user on someone's good account
Down Payment: How Little You Really Need
Forget the "20% myth." Here's reality:
- FHA loans: 3.5% down ($10,500 on a $300K home)
- Conventional: 3-5% down ($9,000-$15,000 on $300K)
- VA loans (veterans): $0 down
- USDA (rural areas): $0 down
Plus, you can use:
- Gift money from family
- Down payment assistance programs (grants you don't repay)
- Seller concessions (seller pays some closing costs)
- First-time buyer programs
DTI (Debt-to-Income): The Real Qualifier
This is simple: your monthly debts ÷ your monthly income.
Example: You make $5,000/month. You pay $800 in debts (car, cards, loans). Your DTI = 16%.
Most lenders want:
- Under 43% for conventional loans
- Under 50-57% for FHA loans (more flexible)
Lower DTI = easier approval. Pay off small debts first for quickest improvement.
💰 What Your Monthly Payment Actually Includes
PITI: Principal + Interest + Taxes + Insurance. On a $300K home with 3.5% down, expect ~$2,200-$2,500/month total including everything. That's often comparable to rent, except you're building equity.
Programs That Actually Help
Most renters don't know these exist. You do now:
Washington State House Key Program
- Down payment assistance (loans with low/no interest)
- Lower mortgage rates through tax-free bonds
- Can combine with other programs
- Income limits apply (~$123K for most areas)
Washington State Housing Finance Commission (WSHFC)
- Grants up to $15,000 for down payment/closing costs
- Available to first-time buyers
- Some programs forgivable after 3-5 years
- Must take homebuyer education course (online, 6 hours)
FHA Loans (Most Common for First-Timers)
- Only 3.5% down required
- Credit scores as low as 580 accepted
- Higher DTI ratios allowed (up to 57%)
- Perfect for credit challenges or limited savings
County & City Programs (Pierce, King, Snohomish)
- Local assistance programs vary by county
- Some offer grants (free money)
- Others offer zero-interest deferred loans
- We know every program available in your area
🎯 Can You Stack These Programs?
Often yes! We've helped buyers combine state assistance + county grants + 2026 program + seller concessions to minimize cash needed at closing. The right combination can cut your cash needed by $10,000-$20,000.
Myths Keeping You Stuck
Let's kill these right now:
FHA loans require just 3.5%. That's $10,500 on a $300K home. Some programs require $0 down. The 20% myth keeps people renting for years unnecessarily.
FHA accepts 580+. Even below that, we create 60-90 day improvement plans. We specialize in credit challenges—bankruptcy, collections, foreclosure. Been there, done that.
Every month you wait, you pay rent (building $0 equity) instead of building wealth. Buy now, refinance when rates drop. Waiting costs you appreciation and equity.
Medical collections under $2,000 are often ignored. Other collections? Usually don't need to be paid before closing. We qualify people with collections all the time.
$2,000 rent vs $2,200 mortgage? The mortgage builds ~$500/month in equity, plus you get tax benefits, plus appreciation. After 5 years: renter has $0, buyer has $50K+.
Bankruptcy? Foreclosure? We Work With That
Past credit problems don't disqualify you. Here's what's actually possible:
After Bankruptcy
Chapter 7: FHA loan 2 years after discharge. Conventional 4 years (sometimes 2 with extenuating circumstances).
Chapter 13: FHA loan while still in repayment with 12 months on-time payments + court approval.
We help post-bankruptcy buyers weekly. It's a pause, not a permanent stop.
After Foreclosure or Short Sale
Foreclosure: FHA after 3 years (2 with extenuating circumstances). Conventional after 7 years (4 with 20% down).
Short Sale: 2-4 years depending on program and circumstances.
The clock starts from the completion date. We build waiting-period strategies so you're ready the day you qualify.
Collections & Charge-Offs
Most programs don't require you to pay these before closing. Exceptions:
- Federal debts (IRS, student loans) need payment plans
- Sometimes required if total collections over $5,000
Medical collections under $2,000? Usually ignored completely.
⚡ Quick Credit Improvement (30-90 Days)
Most people can boost their score 30-60 points in 60-90 days by: paying cards below 30% utilization, disputing errors, becoming authorized user on good account, and avoiding new credit inquiries. We guide this process.
The Realistic Timeline
From "I'm thinking about this" to "I have keys":
If You're Ready Now (Good Credit, Savings Ready)
- Week 1: Homeowner Audit, get pre-approved
- Weeks 2-4: House hunting with your agent
- Week 5: Offer accepted, inspection scheduled
- Weeks 6-8: Appraisal, final loan approval
- Week 9: Closing day—you get keys!
Total: 2-3 months from decision to homeowner
If You Need Some Prep Work (Most People)
- Months 1-3: Credit improvement, saving, documentation
- Month 4: Get pre-approved
- Months 5-6: House hunting, offer, escrow
Total: 5-6 months from starting prep to homeowner
If You Have Credit Challenges (Still Doable)
- Months 1-6: Credit repair, debt paydown, building savings
- Month 7: Pre-approval
- Months 8-9: House hunting and closing
Total: 8-9 months with dedicated effort
📅 Start Now, Even If You're Not Ready
The Homeowner Audit tells you exactly where you stand and what timeline makes sense for YOU. No guessing. No wondering. Just facts and a roadmap.
Let's Find Out What's Actually Possible for You
The Homeowner Audit takes 5 minutes. You'll know exactly where you stand, what you qualify for, and what your next steps are.
Get Your Free Homeowner Audit🤖 Ask Me Anything
Hi! I'm your AI homebuying expert. I know everything about credit, loans, programs, and the buying process. What questions do you have?