Sharon FronkRealtor® · Howard Hanna
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Buying your first home? Take a breath.
It feels like a lot, because no one ever walks you through it. So here's the whole path, start to keys, in plain English. We do it together, at your pace.
You're not behind
Feeling overwhelmed is normal
Everyone's first time feels like this. Three things worth knowing before you read a single step:
You probably need less than you think
The "20% down" rule is mostly a myth. Many first-time buyers put down 3–5%, and New York has programs that help even more.
You won't be doing this alone
A good agent handles the heavy parts (paperwork, negotiation, deadlines) so your only real job is choosing the right home.
There's no rush to be perfect
Step one is just a conversation. No commitment, no cost, no "are you ready yet?" Just answers to whatever you are wondering.
The roadmap
From “maybe someday” to keys in hand
Twelve steps, four phases. Scroll through and the line fills as you go.
Your progress0%
Phase 1 · Get ready
Step 1
Know your numbers
Get a rough sense of what you can spend and what you've saved. You don't need it all figured out, just a starting picture of your budget, down payment, and monthly comfort zone.
Sharon's tip: Don't disqualify yourself on a guess. The real number almost always surprises people in a good way.
Step 2
Peek at your credit
Pull your free credit reports and skim for errors. Your score shapes your rate, and fixing a mistake or two can move it quickly.
Sharon's tip: A higher score means a lower monthly payment. Even small improvements are worth it before you apply.
Step 3
Get pre-approved
Talk to a lender (Sharon can introduce you to trusted local ones). They confirm your real budget and give you a pre-approval letter: your golden ticket to making offers sellers take seriously.
You'll use
- Pay stubs
- Tax returns
- Bank statements
Sharon's tip: This is free, and it's the moment 'someday' becomes 'this year.' Most people feel relief here, not stress.
Phase 2 · Find the one
Step 4
Sit down with Sharon
A no-cost buyer consult. We talk must-haves vs. nice-to-haves, neighborhoods, schools, and exactly how the process works, so nothing ahead is a surprise.
Sharon's tip: Bring every question, even the 'dumb' ones. There are none, and this is the meeting that makes the rest easy.
Step 5
Tour homes
We search together and walk through homes. Your taste sharpens fast once you're in real rooms. Sharon flags the things photos hide, and the ones that matter.
You'll use
- Map search
- Open houses
- Saved favorites
Sharon's tip: Loving and losing a few is part of it. Each one teaches us what you actually want.
Step 6
Make an offer
Found it? Sharon prepares a strong, smart offer (price, terms, and a strategy for your market) and you submit together. You'll put down a small earnest-money deposit to show you're serious.
Sharon's tip: A great offer isn't only the highest price. Terms and timing win homes all the time.
Phase 3 · Under contract
Step 7
Offer accepted → contract
In New York, attorneys review and finalize the contract. You sign, your deposit goes into escrow, and the home comes off the market for you.
Sharon's tip: This is real now, and it's the point where having a team handle the details really pays off.
Step 8
Home inspection
A licensed inspector checks the home top to bottom. We review the report together and, if needed, negotiate repairs or credits before moving forward.
Sharon's tip: No house is perfect. The inspection is about surprises, not deal-breakers. Sharon helps you tell the difference.
Step 9
Mortgage & appraisal
You finalize your loan application; the lender orders an appraisal and works through underwriting. Mostly this is paperwork and patience, so keep your finances steady.
You'll use
- Updated documents
- Steady accounts
Sharon's tip: Do not open new credit or make big purchases now. Boring-on-paper is exactly what we want here.
Phase 4 · Closing
Step 10
Clear to close
Final loan approval comes through. You review the Closing Disclosure (your final numbers) and line up homeowners insurance. Almost there.
Sharon's tip: Read the disclosure with Sharon. She'll make sure the numbers match what we agreed to.
Step 11
Final walkthrough
The day before or of closing, we walk the home one last time to confirm it's in the shape we expect and agreed repairs are done.
Sharon's tip: Bring your excitement and your phone camera. This is the fun part of the paperwork stretch.
Step 12
Closing day → keys
You sign, the loan funds, ownership transfers, and you get the keys. That's it. You're a homeowner.
Sharon's tip: Take the photo on the porch. You earned it. Then call Sharon anytime. She doesn't disappear after closing.
The money question
How much do I actually need?
The part everyone worries about most, demystified. (General info, not financial advice. Your lender confirms your real numbers.)
Myth
"I need 20% down."
Usually not. Conventional loans can go as low as 3%, FHA around 3.5%, and VA or USDA can be 0% for those who qualify. 20% just lets you skip mortgage insurance.
Good to know
New York helps first-timers
SONYMA (the state's program) offers low-rate loans and down-payment assistance built specifically for first-time buyers. Worth asking your lender about.
Plan for it
Closing costs are about 2–5%
On top of your down payment, budget roughly 2–5% of the price for closing costs (attorney, taxes, lender fees, inspection). Sometimes a seller helps cover these.
Free
Getting pre-approved costs nothing
A pre-approval is free and doesn't lock you into anything. It just tells you your real budget, and makes your offer one a seller takes seriously.
Programs, rates, and qualification rules change and vary by lender and buyer. Nothing here is financial or lending advice. Sharon can connect you with trusted local lenders who will give you exact numbers for your situation.
Honest answers
The questions you're afraid to ask
Enough for a down payment (often 3–5% of the price) plus closing costs (roughly 2–5%). On a $300k home that might be ballpark $15k–$25k all in, but assistance programs can lower it. The honest first step is a free chat with a lender to see your real number. You may be closer than you think.
It varies by loan type. Some programs work with scores in the low 600s, and a higher score gets you a better rate. Don't assume you won't qualify; let a lender actually look. If it needs work, there are quick, concrete things you can do, and a few months of small moves can change a lot.
From the moment your offer is accepted to keys in hand is usually 30–60 days. The "getting ready" part before that is entirely your pace. Some people take a weekend, some take a year. There is no clock but yours.
The first conversation, the home tours, the guidance: that part does not cost you anything up front. How buyer-agent compensation works has changed recently, and we go over it clearly and in writing before you commit to anything, so there are zero surprises. Ask anything about it.
It happens, and it's okay. It's not a verdict on you. We learn from it, adjust the strategy, and go again. Most buyers don't land the very first home they offer on, and the right one usually shows up because of the ones that didn't.
Buying in New York
A few things that work differently here
None of it is scary, but it helps to know going in.
You'll have an attorney
New York closings involve real estate attorneys on both sides. It's standard, it protects you, and Sharon can recommend trusted local ones.
Help for first-timers exists
State programs through SONYMA, including options for veterans and recent grads, can assist with down payment and closing costs. Worth asking about early.
Property taxes vary a lot
They differ widely by town and school district and are a real part of your monthly cost, so look at the full picture, not just price. Explore communities →
Don't forget STAR
Once you own your primary home, register for New York's STAR program to lower your school taxes. It's not automatic for new owners. A small step that saves real money.
Explore on your own
Play with the numbers first
No sign-up, no pressure. Get a rough sense of where you stand before you ever pick up the phone.
First-time buyers
Ready when you are, even if “ready” is just curious.
No application, no pressure, no commitment. Just bring your questions and we map out your first move together.
This guide is general education, not financial, legal, lending, or tax advice, and every purchase is different. Loan options, down-payment requirements, assistance programs, eligibility, and timelines vary by lender, program, and your circumstances, and change over time. Program details such as SONYMA offerings should be confirmed with a licensed lender and the program administrator. Sharon Fronk is a Licensed Real Estate Salesperson with Howard Hanna Capital, Inc., and fully supports the Fair Housing Act and Equal Opportunity Act. Every buyer is welcome in every community.