First-Time Home Buyers in Bend
Helping you navigate your first purchase with clear steps and someone in your corner the whole way.
Your First Home, Step by Step
Buying your first home comes with a lot of new terms and decisions. My job is to explain each one in plain language, help you understand your options, and make sure you know what happens next.
You'll work directly with me from our first conversation to closing day. No teams, no handoffs, and there are no silly questions!
How Buying Your First Home Works
Most purchases follow the same six steps. Here's what to expect, from our first conversation to closing day.
Consultation
During our buyer consultation, we'll explore market trends, financing options, and negotiation strategies together. I'm here to answer all your questions and get you started on the right path.
Pre-Approval
I'll guide you through the pre-approval process, where the lender will review your finances and let you know how much you can borrow. This is a crucial step in making your homeownership dreams a reality!
Property Search
You'll receive notifications about listings that match your preferences. If something catches your eye, just let me know, and we'll schedule a viewing right away to keep things moving forward.
Make An Offer
When you're ready, I'll present your written offer to the seller. While we hope for an immediate acceptance, the seller might counter or reject the offer, but don't worry—we'll navigate this together!
Inspections
We'll arrange a home inspection to ensure everything is in working order and there are no major issues. This brings us one step closer to handing you the keys to your new home!
Closing
It's time to celebrate—closing day is here! I'll walk you through every signature so nothing catches you off guard.
First-Time Buyer Tips for Bend
Talk to a lender early
Getting pre-approved shows you what you can borrow and what your monthly payment may look like, and it makes your offer stronger. Ask lenders about loan programs and any down payment assistance you may be eligible for in Oregon. Get three quotes: one from a credit union, one from a large bank and one from a private mortgage broker. Then compare rates, fees and programs side by side. Buying new construction? Many builders offer incentives and lower interest rates when you use their preferred lender, so get a quote from the builder's lender too and compare it with the others.
Know what a buyer agreement is
In Oregon, you and your agent sign a written buyer agreement that explains what I'll do for you, how I'm paid and how either of us can end it. I'll go through it line by line. Learn more about working with a buyer's agent.
Find the right part of town
Bend's neighborhoods differ a lot in price, home age and feel. Many buyers start by comparing a few areas; my Bend neighborhoods guide and area guides are a good place to begin. Considering a brand-new home? See my Bend new construction guide.
Plan for costs beyond the down payment
Budget for closing costs, the home inspection, the appraisal, moving and setting up utilities. Your lender's loan estimate will list the closing costs, and I'll help you read it.
First-Time Buyer Questions
How much do I need for a down payment in Oregon?
It depends on the loan program and your situation. Some programs for qualified buyers allow a small down payment, and others call for more. Oregon also has down payment assistance programs for eligible buyers. A lender can tell you what you qualify for. This isn't lending advice; your lender's terms are the final word.
Do I need a buyer's agent for my first home?
You're not required to have one, but it helps, especially the first time. Your agent represents you: checking value against comparable sales, negotiating price and repairs, and keeping inspection, financing and closing deadlines on track.
Where do I start?
Start with a conversation. We'll talk about what you're looking for, your timing and your budget, and I'll explain how I work. From there, the usual next steps are getting pre-approved and setting up a search that sends you listings that match.
First-Time Buyer Glossary
Pre-approval
A lender's estimate of how much you can borrow, based on a review of your income, credit and assets, done before you start shopping. It helps you set a budget and makes your offer stronger.
Earnest money
A good-faith deposit you make once your offer is accepted, to show the seller you're serious. Escrow holds it, and it's credited toward your purchase at closing.
Down payment
The part of the price you pay upfront. Your loan covers the rest.
Closing costs
The fees you'll pay at the end, such as title, escrow and lender fees, along with your prepaids.
Prepaids
Costs you pay up front at closing. Prepaids are typically your first year of homeowner's insurance and property taxes, but not limited to those — other items can be included.
Appraisal
A professional opinion of the home's value. Your lender requires it to make sure the loan fits the home.
Inspection
A professional check of the home's condition, from the roof to the furnace, so you know what you're buying.
Escrow
A neutral third party that holds the money and documents until everything is ready to close. In Oregon, title and escrow are typically handled together.
Contingency
A condition in your offer that must be met for the sale to move forward, such as a satisfactory inspection, appraisal or financing. If it isn't met by its deadline, you can usually back out and keep your earnest money.
Title insurance
Protects your ownership from past problems that turn up later, like errors in earlier sales or claims to the property. Lenders require a policy, and you'll usually have an owner's policy too.
Homeowner's insurance
Covers the home and your belongings. Your lender will require it before closing.
Escrow impounds
Part of your monthly mortgage payment goes into an escrow account, and your loan servicer uses it to pay your property taxes and homeowner's insurance when they're due.
Prorations
Splitting costs like property taxes or HOA dues between buyer and seller based on the date ownership changes.
Ratified
Your offer is accepted and signed by both sides, so you officially have a deal.
Easement
A legal right for someone else, like a utility company, to use part of the property for a specific purpose.
CC&Rs
Covenants, conditions and restrictions, which are the rules for a neighborhood, like what you can build or where you can park. CC&Rs can exist in a community even without an HOA.
HOA
A homeowners association, which enforces the neighborhood's CC&Rs and often collects dues for things such as shared spaces, yard maintenance, common area maintenance and snow removal. Not every neighborhood with CC&Rs has a managing HOA.
Lender
The bank, credit union or mortgage company that provides your home loan.
Preferred lender
A lender recommended by a builder or seller, often with incentives like help with closing costs or a lower rate.
Agent
A person licensed to help you buy or sell a home.
Broker
In Oregon, this is the entry-level real estate license, and it's what most people mean by “agent.” Every broker works under the supervision of a managing principal broker.
REALTOR®
A licensed agent or broker who is a member of the National Association of REALTORS® and follows its Code of Ethics.
Principal broker
A broker with at least three years of active licensed experience who completed the brokerage administration and sales supervision course and passed the principal broker exam. A principal broker can open a brokerage and can oversee other agents. In Oregon, the principal broker license replaces the broker license rather than being an additional one.
Ready to Take the First Step?
Reach out and we'll chat through your plans, no pressure. Or browse what's for sale in Bend right now.
Or call me at (541) 788-0876.
Seeking Expert Advice?
Have questions about the market, need help with paperwork, or want a tour of your potential new neighborhood, I'm just a call or click away. Let's make your real estate journey smooth and stress-free!