Resources
First-Time
Home Buyers
Buying your first home is one of the biggest decisions of your life. We make it simple, stress-free, and exciting. Our agents have helped hundreds of first-time buyers find their perfect home in the greater St. Louis area.
Why Choose Us
We Speak First-Timer
No Pressure
We work at your pace. There is no rush, no hard sell — just honest guidance until you find the right home.
Local Experts
Our agents live and work in St. Louis. We know which neighborhoods fit your budget, lifestyle, and future plans.
Full Support
From your first question to closing day and beyond, we are here for you. Most of our first-time buyers come back for their second home too.
The Process
How Buying Works
Get Pre-Approved
Before you start shopping, get pre-approved for a mortgage. This tells you exactly how much you can spend and shows sellers you are a serious buyer. We can connect you with trusted local lenders.
Find Your Home
Work with your WRG agent to search active MLS listings that match your needs, budget, and preferred neighborhoods. We know every street in St. Louis County and St. Charles County.
Make an Offer
When you find the one, your agent will help you craft a competitive offer. We will negotiate on your behalf to get you the best possible price and terms.
Inspection & Due Diligence
A home inspection protects you from surprises. We will guide you through what to look for and how to handle any issues that come up — keeping you informed every step of the way.
Close & Get Your Keys
We walk you through closing day so there are no surprises. Sign the papers, get your keys, and welcome home. Our job isn't done until you are settled in.
Know the Language
Real Estate Terminology
The real estate process comes with a lot of unfamiliar words. Here is a plain-English guide to the terms you will hear most often as a first-time buyer.
Pre-Approval
A lender's written commitment to loan you up to a certain amount based on your income, credit, and assets. Having a pre-approval letter makes your offer much stronger in a competitive market.
Earnest Money
A deposit (typically 1-2% of the purchase price) you put down when making an offer to show the seller you are serious. It goes toward your down payment at closing.
Contingency
A condition that must be met for the sale to go through. Common contingencies include financing (you get your loan), inspection (the home passes inspection), and appraisal (the home is worth what you're paying).
Appraisal
An independent estimate of the home's market value ordered by your lender. If the appraisal comes in lower than your offer price, you may need to renegotiate or pay the difference out of pocket.
MLS
Multiple Listing Service — the database where real estate agents list homes for sale. All active listings in the St. Louis area are on the MLS, and your WRG agent has full access to it.
Closing Costs
Fees paid at the end of the transaction, typically 2-5% of the loan amount. These include lender fees, title insurance, prepaid taxes, and more. We will walk you through every line item before closing day.
Title Insurance
Protects you from claims against your property's ownership — like an undisclosed lien or a past ownership dispute. It's a one-time fee paid at closing and provides protection for as long as you own the home.
Escrow
A neutral third party that holds funds and documents during the transaction. At closing, escrow disburses funds to the seller and documents to you. After closing, your lender may hold property taxes and insurance in an escrow account.
HOA
Homeowners Association — an organization in some neighborhoods or condo buildings that sets rules and collects monthly or annual fees to maintain common areas and amenities.
Fixed vs. Adjustable Rate
A fixed-rate mortgage keeps the same interest rate for the life of the loan. An adjustable-rate mortgage (ARM) starts lower but can change after a set period. Most first-time buyers prefer the stability of a fixed rate.
PMI
Private Mortgage Insurance — required by most lenders when your down payment is less than 20%. It protects the lender (not you) if you default. It typically runs 0.5-1.5% of the loan per year and can be removed once you reach 20% equity.
Equity
The difference between your home's current market value and what you still owe on your mortgage. As you pay down your loan and your home appreciates in value, your equity grows — building real wealth over time.
Counter Offer
When a seller responds to your offer with different terms — usually a higher price, different closing date, or fewer contingencies. Your agent will help you navigate negotiations to find a deal that works for everyone.
Home Inspection
A thorough examination of the home's condition by a licensed inspector — covering the roof, foundation, plumbing, electrical, HVAC, and more. We strongly recommend every buyer get an inspection before finalizing the purchase.
Clear to Close
The phrase every buyer wants to hear — it means your lender has approved everything and the loan is ready to fund. Once you are clear to close, closing day can be scheduled.
Have a question about a term you don't see here? Ask one of our agents →
Common Questions
First-Timer FAQs
How much do I need for a down payment?
It depends on your loan type. FHA loans require as little as 3.5% down. Conventional loans can go as low as 3-5%. VA and USDA loans may require zero down for qualifying buyers. We can connect you with lenders who specialize in first-time buyer programs.
What credit score do I need to buy a home?
Most conventional loans require a 620+ credit score. FHA loans can work with scores as low as 580. The higher your score, the better your interest rate will be. We can recommend local lenders who work with all credit situations.
How long does the buying process take?
From offer accepted to closing typically takes 30-45 days. The search process varies — some buyers find their home in a week, others take a few months. We will work at whatever pace feels right for you.
Do I have to pay my real estate agent?
In most cases, no. The seller typically pays both agents' commissions. As a buyer, you get expert representation at no direct cost to you.
What are closing costs?
Closing costs typically run 2-5% of the loan amount and cover things like the appraisal, title insurance, and lender fees. We will give you a clear picture of what to expect before you ever make an offer.
Ready to Start?
Let's Find Your
First Home
Fill out the form and one of our first-time buyer specialists will reach out within 24 business hours. No pressure, no obligation — just honest answers to your questions.
Talk to a First-Time Buyer Specialist
Whittier Realty Group · (314) 757-1522
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