THE HOME BUYING PROCESS

Smiling woman with locs and glasses wearing a red blazer, black shirt, and a moon pendant necklace against a white background.

First-Time Homebuying

Buying your first home is an exciting milestone, and it can also come with a lot of questions. That’s where we come in. At RVA Financial Federal Credit Union, we’re committed to making your first-time homebuying experience clear, supportive, and empowering from start to finish.

Whether you’re just beginning to explore what’s possible or you’re ready to take the next step, our team is here to guide you through every phase of the journey. We offer straightforward guidance, competitive mortgage options, and personalized support designed with first-time homebuyers in mind, so you can move forward with confidence.

Below, you’ll find a simple, step-by-step look at the homebuying process, along with helpful insights, options, and benefits to help you understand what to expect and how to prepare. From pre-approval to closing day, we’re with you every step of the way, because your first home should feel exciting, not overwhelming.

Step-by-Step Homebuying Journey

1

Prepare & Budget

Understand your finances and credit

2

Get Pre-Approved

Know what you can afford

3

Shop for a Home

Work with a trusted realtor

4

Apply for Your Loan

Submit your application

5

Close & Move In

Finalize and get the keys

Clear guidance from start to finish.

Buying a home is one of the biggest financial decisions you’ll make. RVA Financial helps simplify the homebuying process with education, tools, and personalized support.
A smiling woman, likely a realtor, receives keys from a man as a "SOLD" sign sits nearby in front of a house.

Options & Benefits for First-Time Homebuyers

First-time buyers may benefit from:

  • Low or no down payment loan programs
  • Fixed-rate or adjustable-rate mortgages
  • Government-backed loans (such as FHA, VA, or USDA)
  • State or local first-time homebuyer assistance programs

Our team can help you explore which options fit your needs.

Common Costs to Expect

  • Down Payment – Often lower for first-time buyers
  • Closing Costs – Fees related to processing the loan
  • Home Inspection & Appraisal
  • Ongoing Costs – Mortgage payments, insurance, taxes, and maintenance

Understanding these costs upfront can help you plan more effectively.

Take the First Step Toward Homeownership

Start Pre-Approval