Conventional
Loans that follow conventional (non-government) guidelines used for many purchase transactions.
Wenatchee Valley · First-time buyers
First-time homebuyer guide
A plain-language overview of saving, credit, pre-qualification, common loan types, and Washington down payment assistance resources. This page does not advertise rates, payments, or loan terms — and it is not a commitment to lend.
Powered by NEXA Mortgage, LLC · NMLS #1660690 · Tyler Oliver NMLS #2860777
Saving for a down payment and closing costs
Most purchases need cash for a down payment plus closing costs (lender fees, title/escrow, recording, prepaids, and escrow deposits). How much depends on the loan program, the property, the county, and your contract — not a figure advertised on this site.
- Build a dedicated savings buffer so earnest money and closing funds are ready when a contract starts.
- Use the cash-to-close estimator only as an illustration with numbers you enter.
- Gift funds, seller credits, and assistance programs may help in some cases — eligibility is never assumed here.
Credit basics
Lenders review credit history, capacity (income vs debts), and collateral (the home). Checking your own credit reports for accuracy is a good early step. Different loan programs have different underwriting standards. Nothing on this page is a credit score requirement or a promise of approval.
Start with pre-qualification
Pre-qualification helps you understand a possible budget range before you fall in love with a house. It is not a Loan Estimate, pre-approval letter for every seller, rate lock, or commitment to lend. A fuller file (documents and underwriting) comes next. See the loan process and document checklist.
Loan types — overview only
Availability and eligibility depend on your situation, property, and underwriting. No interest rates, APRs, payments, points, or down-payment amounts are advertised here.
FHA
Loans insured by the Federal Housing Administration — often considered when flexible credit or down-payment profiles may fit FHA rules.
VA
Loans backed by the U.S. Department of Veterans Affairs for eligible veterans, service members, and certain surviving spouses.
USDA
Rural housing options that may be available in eligible areas under USDA guidelines.
Down payment assistance (Washington)
The Washington State Housing Finance Commission (WSHFC) publishes information about homebuyer programs and assistance that may be available to eligible borrowers. Eligibility and availability vary; this is not a guarantee that any program will apply to you. Tyler can help you explore whether a WSHFC-related option might fit after reviewing your scenario — without implying you are eligible.
Homebuyer education
WSHFC-approved homebuyer education courses are often required or strongly encouraged for certain assistance programs. Course formats and providers change over time — check WSHFC’s site for current approved education options. Completing a course does not guarantee loan approval or assistance funds.
Illustration and education only. This guide is not a Loan Estimate, Closing Disclosure, rate quote, rate lock, pre-qualification letter, or commitment to lend. Actual costs vary by lender, settlement provider, county, credit, and property. Tyler Oliver, Loan Officer, NMLS #2860777 · NEXA Mortgage, LLC, NMLS #1660690 · Equal Housing Lender.