The Pennington LENDING SERVICES Approach
Most first-time buyers start with a search engine, but the best place to start is with a strategy. Buying your first home is likely the largest financial decision of your life—it deserves more than a generic automated quote. I’m here to help you navigate the nuances of the Washington market, ensuring your first purchase is built on a solid foundation.

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Step 01: The Financial Snapshot

We review your credit, income, and assets to see exactly where you stand before looking at houses.

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Step 02: Strategy & Pre-Approval

We choose the specific loan program that fits your down payment and monthly payment goals.

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Step 03: The Home Search

Shop with confidence alongside your Realtor, knowing your exact numbers for any property you tour.

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Step 04: Loan Processing

Once under contract, loan processing begins. We will order your appraisal, and guide you through the underwriting process.

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Step 05: Closing & Keys

Once loan underwriting is finished, we finalize the paperwork, fund the loan, and you celebrate. You’re officially a homeowner! 🎉

💡 The 20% Down Myth-Buster (What is PMI?)

One of the biggest hurdles for first-time buyers is the belief that you must have a 20% down payment. In reality, very few first-time buyers do. Private Mortgage Insurance (PMI) is what makes this possible.

The Definition: PMI is a monthly fee that allows you to buy a home with as little as 3% or 3.5% down. Think of it as the “Entry Key” to homeownership.

The Strategy: It isn’t always permanent. Once your home reaches 20% equity through appreciation or principal pay-down, we can often remove it, but it allows you to start building wealth today instead of waiting years to save a massive down payment.

Pro-Tips for First-Time Buyers

Protect Your Credit
Avoid opening new credit cards, financing large purchases, or changing your credit profile until after your loan has officially funded.

The “Seller Credit”
In the current market, we can often negotiate to have the seller cover your closing costs, significantly reducing the cash you need at the table.

Employment Stability
Lenders look for a consistent two-year job history. If you’re planning a career change or a move to 1099, let’s discuss how it impacts your qualifying power first.

⭐ The Pennington Advantage

Pre-Underwritten ApprovalsWe take your approval a step further by fully underwriting your file before you even find a home. This tells sellers your financing is 100% secure, allowing for faster closings and making your offer stand out in a competitive market.

Complimentary Credit Upgrade ServiceOur in-house Credit Upgrade Team provides a free analysis to identify specific actions you can take to boost your credit score—often in as little as 5-10 days. A higher score can unlock lower interest rates and significantly cheaper Private Mortgage Insurance (PMI).

Ready to see your actual numbers?

Closing costs aren’t a guessing game. From the loan type to the specific day you sign, every variable changes your bottom line. I specialize in building Custom Loan Blueprints that show you exactly what to expect—no surprises, no hidden fees.

📝Fill out the form to the right (or below on mobile), and I’ll personally reach out to provide a detailed breakdown tailored specifically to your homebuying goals.

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Not sure where to start?

Book a First-Time Buyer Strategy Session to map out your credit, down payment, and timeline with a local expert.

Want a local expert to help you find the right loan?

NMLS 1534892 | Pennington Lending Services Inc.

First-Time Buyer FAQ’s

What’s the difference between a Pre-Qualification and a Pre-Approval?

A pre-qualification is a generic estimate based on unverified information. A Pre-Approval is what you need to actually win an offer in a competitive market like Washington; it means I have officially reviewed your paystubs, taxes, and credit history to verify exactly what you can afford.

We specialize in taking this a step further with a Full Pre-Underwrite. By having an underwriter sign off on your file before you even find a home, we can eliminate surprises and provide a commitment to lend that is essentially as strong as a cash offer.

How much of a down payment do I really need?

The “20% down” rule is a myth. Many first-time buyers qualify for programs with as little as 3% or 3.5% down. In some cases, such as VA or USDA loans, you may even qualify for 0% down. We will find the right balance between your current savings and your monthly payment goals.

Does my credit score have to be perfect?

Not at all. While higher scores secure better rates, there are excellent loan programs available for scores in the 600s. If your score isn’t quite there yet, my Complimentary Credit Upgrade Service can provide a roadmap to boost your score—often in as little as 5-10 days.

I’m ready to start the process—what is the first step?

The best first step is to get your formal application started so we can build your custom loan blueprint. Click here to start your secure online application. Once submitted, I will personally review your information and reach out to schedule your strategy session.