Buying your first home is exciting. It’s also a big financial move, and I see a lot of first-time buyers trip over the same things again and again.

If you’re thinking about buying your first home in Richmond (or anywhere, really), avoid these three common mistakes and you’ll already be ahead of the game.

---

🚫 Mistake #1: Not Meeting With Your Lender Face-to-Face

A lot of lenders will send you a worksheet, a link, or a quick pre-qual email and call it a day.
That might be convenient — but it’s not helpful.

Buying a home is one of the biggest purchases you’ll ever make. You deserve more than a spreadsheet.

When you actually sit down with your lender (in person or virtually), you get:

• Clear explanations, not confusing numbers
• Multiple loan options, not a one-size-fits-all answer
• Professional advice tailored to your situation

Most importantly, you should choose your loan before you shop for homes. Falling in love with a house first and figuring out financing later is a recipe for stress (and disappointment).

---

💸 Mistake #2: Draining Your Savings Because You Think You Need 20% Down

Let’s bust a huge myth right now:

👉 You do NOT need 20% down to buy a primary residence.

This belief stops a lot of first-time buyers from even getting started.

Savings matter — but not because you need to throw every dollar into the down payment. After you close, the home is your responsibility. Things break. Repairs happen. Life happens.

Good planning means:

• Putting the right amount down
• Keeping money in savings after closing
• Exploring programs that may require less money upfront

If this is your first home, you may even be eligible for grant or assistance programs. You don’t know what you qualify for until you actually talk to a professional.

---

🏡 Mistake #3: Not Vetting Your Realtor

Your Realtor isn’t just there to unlock doors and send listings.

A great Realtor is a top-tier negotiator.

Without strong representation, you could:

• Pay more than you need to
• Miss out on seller credits or concessions
• Strengthen the seller’s bank account instead of your own

The right agent knows how to structure a deal that supports your financial goals — not just “win” the house at any cost.

If you’re not sure how to find that kind of Realtor, I’m always happy to make recommendations here in the Richmond area.

---

✅ Final Thoughts

Buying your first home doesn’t have to feel overwhelming or confusing.

When you:

• Meet with your lender early
• Protect your savings
• Choose a strong Realtor

…the entire process becomes smoother, smarter, and far less stressful.

If you’re thinking about buying your first home and want honest guidance, I’m always happy to have a conversation and walk through your options.

CJ Sweat
Mortgage Loan Officer | Richmond, VA