Buying Your First Home in the Columbia Area

How much do I need for a down payment?

Less than you think. Most people assume 20% — but it can be as low as 0%, and most first-time buyers put down around 3.5%. On a $200,000 home, that’s about $7,000. It’s not the only cash you’ll need, but it’s a good number to plan around.

What are closing costs?

The fees to finalize your loan and purchase — lender fees, attorney, title work, and prepaid items like taxes and insurance. Usually $5,000–$10,000. They can vary, and in some cases can be negotiated as part of your offer.

What’s earnest money?

A good-faith deposit (about 1% of the price) that you submit along with your offer to show the seller you’re serious. It gets credited back to you toward your costs at closing.

How much are inspections going to cost?

Most buyers spend about $500–$1,000 total, depending on which inspections you choose — there are several types. They’re usually paid out of pocket, and I’m happy to walk you through which ones are worth getting for your home.

How much will an appraisal cost?

On average between $600 and $800. Your lender requires it to make sure the home is valued at at least what you’re paying for it. It’s usually a separate out-of-pocket cost, due before closing.

Are there any other costs to plan for?

A few come up depending on the home: a home warranty (often negotiated into your offer), HOA dues if the neighborhood has them, and your moving costs. None apply to every purchase — I’ll flag anything specific to a home you’re considering.

What credit score do I need?

Often 580 or 620 is the minimum — but if you don’t know yours, or it’s lower, that’s okay too. The score you see online isn’t always your true mortgage score, and there are often quick, easy ways to raise it. Let’s find out where you really stand.

Will my student loans stop me from buying?

Often, no. Lenders look at how your monthly payments compare to your income (your debt-to-income ratio), not just the balance you owe — and plenty of first-time buyers qualify with student loans. A quick, free pre-approval will tell you where you stand.

What does my mortgage payment consist of?

Four things: principal & interest, property taxes, homeowners insurance, and mortgage insurance.

How much cash do I need to get started?

Everyone’s situation is different. Often people save their down payment, closing costs, and about two months of reserves — but that doesn’t necessarily mean it’s required. Let’s talk and strategize: sometimes buyers come to closing with little to no money down. The right number depends entirely on you.

Is buying really better than renting?

Sometimes you can get more house for your mortgage payment than you’re paying in rent. If you’re planning to stay at least 3–4 years, it’s worth a conversation. It’s not always better — it depends on your situation — but you might be surprised.

What’s the very first step?

Get pre-approved. It’s a quick, free conversation with a lender, and it tells you the two most important things: your budget (your purchase price) and your estimated monthly payment. Everything else starts here.

When should I start looking if I’m renting?

About 3–6 months before your lease ends is a good time to start. That gives you room to get pre-approved, explore neighborhoods, and find the right home without rushing — and to time your move so you’re not paying rent and a mortgage at once.

How long does the whole process take?

Usually about 30–45 days from accepted offer to keys, plus however long it takes to find the right home. Pre-approval itself can happen in a day or two.

What if I don’t have much saved?

You may have more options than you think:

• VA loans — zero down for veterans, active duty, National Guard, and reserves.
• USDA loans — often zero down in many areas around the Midlands.
• Down payment assistance — programs like SC Housing can cover part or all of your down payment.
• Seller-paid closing costs — we can structure your offer so the seller helps with your closing costs.
• New construction — builders often cover most or all of your closing costs.

What’s the advantage of new construction?

With a brand-new home, things are far less likely to need repair or replacement right away — which brings real peace of mind. Builders often help with closing costs to get you in the door, and new homes usually come with builder warranties. Worth a look if low maintenance and predictable costs appeal to you.

Why work with a real estate agent?

You want someone who knows the local market and works on your timeline — not theirs. I’ll never pressure you to buy a home beyond what you need or want. My job is to guide you, protect your interests, and help you decide with confidence when you’re ready.