Contact DanApply nowThe starting point
Feeling excited, nervous or unsure is a reasonable place to start. You do not have to understand every mortgage term before we talk. Our first job is to connect your goals, your payment comfort zone and the cash you want to keep—then decide what to do next.
Five first-time buyer mistakes we can work to avoid.
In the first-time buyer class I teach with Charlie Perry, we organize the conversation around five decisions that deserve attention before you fall in love with a house.
- Skipping the assistance conversation. Ask what programs may fit, what is available and whether the help must be repaid.
- Doing the right things in the wrong order. Review financing and a comfortable budget before building your home search around a price.
- Choosing a property or builder without enough homework. Look beyond finishes to condition, total ownership costs, warranties and the contract.
- Letting the numbers stop the conversation. Break the payment and cash needed into understandable pieces, then ask what can change.
- Choosing a team without discussing representation. Ask your agent how they handle negotiations, deadlines, inspections and communication—and how they are paid.
The order matters. Here is your buying roadmap.
Start with a conversation about your life, lease timing, income, credit and savings. Then document the financing picture. Ask what has actually been reviewed for your preapproval and whether an underwriter review is available before you make an offer. Approval still has conditions; a letter is not a guarantee of funding.
| Stage | What we work toward |
|---|---|
| 1. Understand your starting point | Identify your goals, financial questions and documents needed for a financing review. |
| 2. Set your payment and cash plan | Choose a comfortable monthly range and the savings you want to protect. |
| 3. Compare financing and assistance | Review program eligibility, costs, available help and the conditions attached. |
| 4. Shop and negotiate with your agent | Connect your financing plan to the property, contract and deadlines. |
| 5. Review and close | Work through inspections, lender requirements, closing figures and funding before taking possession. |
Choose the payment before the price.
Your approval ceiling is not automatically your personal budget. If you are comparing a Sandy townhome with a home in South Jordan, consider the full housing cost: loan payment, taxes, insurance, any mortgage insurance and HOA dues. Allow for maintenance, utilities and the rest of your life too.
I also want to know what might change. Would the plan still work with a longer commute, childcare costs, a repair or a temporary income disruption? Keeping cash available can matter just as much as reducing the loan balance. Renting longer belongs in the comparison when it gives you a stronger starting point.
Sources: CFPB: Preparing to shop for a mortgage · CFPB: Understanding your Loan Estimate
Ask about help—and understand the strings attached.
Do not rule yourself out based on a headline or a friend’s experience. Ask us to review Utah Housing and local assistance possibilities for your household, location and property. We need to confirm current rules and funding before counting assistance in your purchase plan.
Help with cash to close may come with a second loan or repayment conditions. Seller or builder concessions also depend on negotiation and loan-program rules. A lender credit may reduce upfront costs in exchange for a higher rate. Compare the complete offer and the resulting payment.
- Which income, purchase-price, property and buyer-education requirements apply?
- Is funding available, and when can it be reserved?
- Is this a grant or a loan? When must it be repaid?
- Can it be combined with other assistance or credits?
- How does the cost compare with proceeding without assistance?
Evaluate the house, the builder and the deal.
For new construction, ask for the written warranty, what the base price includes, likely completion timing and the conditions attached to incentives. For resale, discuss the home’s condition and possible repair needs. A smaller price tag can still come with costs that change your budget.
An appraisal evaluates value for the lender; a home inspection examines condition. One does not replace the other. Discuss inspection rights, deadlines and any proposed changes to your protections with your agent before signing. Whether earnest money can be returned depends on the contract and circumstances.
- What is included—and what will I need to pay for after moving in?
- What do the warranty and inspection findings actually cover?
- Does an incentive require a particular lender or closing provider?
- What happens if construction, financing or my move is delayed?
Sources: CFPB: Scheduling a home inspection
Give each dollar a job. Keep the loan team in the loop.
Plan for more than the down payment. Earnest money, inspections or an appraisal may require funds before closing. Your final cash-to-close figure accounts for deposits already paid and applicable credits; keep a separate budget for moving, repairs and the savings you want left over.
Review your Loan Estimate, then compare it with your Closing Disclosure. Ask about differences in the payment, fees and cash due. Tell the loan team before new borrowing, co-signing, job changes or unusual transfers so we can discuss documentation and potential effects. Keep making required payments on existing debts.
Credit questions and student loans are reasons to review the details together. Avoid guessing at the effect of opening or closing an account, disputing information or settling a collection. We will identify what needs review without promising a particular score change or approval.
Sources: CFPB: Closing Disclosure explainer
The Impact Mortgage Method: look beyond closing day.
My Impact Mortgage Method is a decision-making framework, not a loan program. For a first home, its six pillars become practical questions we can revisit as your life changes.
- Life Stage Alignment: Does the home fit your work, household, mobility and plans?
- Cash-Flow Freedom: Does the payment leave room for saving, repairs and everyday life?
- Risk Intelligence: What could strain this plan, and what backup would help?
- Equity Strategy: How do repayment, upkeep and a future sale fit your longer-term goals? Appreciation is not guaranteed.
- Market & Timing Awareness: Are you ready based on your circumstances, without depending on a future rate drop?
- Legacy & Protection: Which insurance, ownership or estate questions should you review with the appropriate professionals?
Put it in context
Cash to close is only part of your cash plan.
Illustration only: suppose the down payment is $25,000 and closing costs and prepaid expenses are $12,000. That is $37,000 before credits or deposits. If you have already paid $5,000 in earnest money that is credited at closing, the remaining amount due would be $32,000, assuming no other adjustments.
Want $10,000 left in savings? Your original planning target was $47,000: $37,000 for the purchase plus $10,000 to keep. The earnest money changes when you pay; it does not add another $5,000 to the total. Budget separately for any inspections, moving or repairs not included in those figures.
These are invented planning amounts, not a quote, an assistance offer or a program requirement. Actual figures depend on your loan, property and transaction.
Bring these to our first conversation.
- The payment range that feels comfortable to you
- Your lease end date, moving goal and preferred communities
- Income sources, employment details and any expected changes
- Available savings, planned gift funds and what you want to keep in reserve
- Student loans, other debts and credit questions
- Your three biggest questions—we can start there
Start with what you know. When documents are needed, use the secure application rather than sending sensitive financial information through email.
Start a conversationQuestions I want you to feel comfortable asking.
Do I need 20% down or perfect credit?
Do not assume either is a universal requirement. The right starting point is a review of your finances and eligible loan options. Down payment, mortgage insurance, credit requirements and pricing vary; the smallest down payment is not automatically the best fit.
What if I have student loans?
Bring the balance, payment information and repayment status to our conversation. We need to determine how the applicable mortgage program evaluates those obligations alongside your income and other debts.
Is down-payment assistance free money?
Not necessarily. Ask whether it is a grant or a loan, whether there is a payment, and what happens when you sell, refinance or move. Funding and eligibility need to be confirmed before you rely on it.
What will we cover in a buyer game-plan conversation?
Your goals, an initial payment and cash plan, financing options to investigate and the next steps in order. It is a starting point for a plan—not an approval or a promise that every program will be available to you.
Does preapproval mean everything is finished?
No. Ask what information has been verified and which conditions remain. The property, updated financial information and other lender requirements still need to be addressed before funding.
What if waiting makes more sense?
Then we can build a preparation plan. The goal is a decision you understand and can live with, whether the next step is applying, saving more or revisiting your timing.