First-Time
Home Buyers
Guide
Everything you actually need to know — in plain English, without the overwhelm. From getting pre-approved to closing day, we've got you covered.
Let's Get Started ✦
Everything you actually need to know — in plain English, without the overwhelm. From getting pre-approved to closing day, we've got you covered.
Let's Get Started ✦Section 01
We're not just here to close your loan — we're here to make sure you understand every step of the way. Real people. Real answers. No disappearing acts.
Melissa Landon
Branch Manager & Loan Officer
NMLS ID# 1398886
I've been helping people buy homes for years — and I still love every minute of it. I'm a mom, a volleyball player, a cake-maker, and a loan officer who believes the best thing I can do is show up for my clients with honesty, clarity, and a little humor. Whether you're buying your first home or your fifth, I'll walk with you every step of the way.
Eden Madison
Loan Officer
NMLS ID# 2748855
Eden brings energy, expertise, and genuine care to every client relationship. She's passionate about helping buyers understand their options and feel confident in their decisions — from first conversation to closing day.
The Landon Group Advantage
Why borrowers choose to work with us
Section 02
Getting pre-approved isn't just a formality — it's your superpower in a competitive market. Here's why it matters and what you'll need.
Understand exactly how much home you can afford before you fall in love with something out of reach.
Get a realistic picture of what your monthly payment will look like so there are no surprises.
Identify how much you'll need upfront and explore assistance programs that may be available to you.
Sellers take pre-approved buyers seriously. A pre-approval letter can make the difference in a competitive situation.
What you'll need for pre-approval
Section 03
You're going to hear these terms a lot. Here's what they actually mean.
Your interest rate and payment stay the same for the life of the loan. Predictable, stable, and great for long-term planning.
Your rate is tied to a financial index and can increase or decrease at scheduled intervals. Can be a smart choice in certain market conditions.
Payments cover interest only for a set period (usually 5-10 years). Your balance stays the same unless you pay extra toward principal.
Insured by the Federal Housing Administration. Low down payment options and more flexible qualifying. Great for first-time buyers with limited savings or lower credit scores.
Available to eligible veterans, active duty, reservists, and surviving spouses. Often $0 down, no PMI, and incredible terms. See Section 04 for details.
Designed for rural and some suburban property purchases. $0 down for eligible buyers in qualifying areas.
Section 04
The Landon Group specializes in VA financing. We work with military families across the DMV and beyond — and we know how to move fast when you have PCS orders.
"You served. Now let's get you home."
Section 05
Not every borrower fits in a standard box — and that's okay. These products exist for a reason.
Self-employed? No W-2 required. Qualify using 12-24 months of bank deposits instead of tax returns. Perfect for business owners, freelancers, and contractors.
Qualify based on the rental income of the property — not your personal income. If the rent covers the mortgage, you qualify. Built for investors growing a portfolio.
A mortgage and a checking account in one product. Every dollar you deposit reduces your balance and interest immediately — helping you pay off your home years sooner.
Section 06
Real estate has its own language. Here's your translation guide.
The portion of your payment that pays down your loan balance.
The cost of borrowing money, calculated on your unpaid balance.
Property taxes assessed by your county, collected monthly and held in escrow.
Homeowners insurance to protect against losses. Required by lenders.
Required when your down payment is less than 20%. Protects the lender — not you. FHA charges MIP for the life of the loan; conventional MI can be removed once you reach 20% equity.
Fees paid to a Homeowners Association for shared common areas and property maintenance.
Paid to an independent appraiser to determine the property's value for the lender.
Covers the cost of pulling your credit report during the application process.
Covers the lender's costs for processing and originating your loan.
An optional one-time fee to buy down your interest rate. One point = 1% of the loan amount.
Fees for title search, examination, document prep, notary, and recording. Two policies: lender's title and buyer's title.
Interest accrued from your closing date to your first payment due date.
An escrow account held by the lender to pay property taxes and insurance on your behalf.
Section 07
You may have more options than you think. Here's a breakdown of what's available.
Section 08
Renting has its place — but owning has its advantages. Here's the case for buying.
Every mortgage payment builds ownership in an asset. Unlike rent, your monthly payment is working for you — not your landlord.
A fixed-rate mortgage means your payment stays the same. No surprise rent increases. No lease renewals. Just stability.
When you buy a home, you put down roots. Whether you're new to the DMV or have been here for years — homeownership connects you to your neighborhood.
Section 09
Here's what happens from your first conversation to getting the keys in your hand.
We review your financial picture, pull your credit, and identify the best loan options for your situation. Having pay stubs, W-2s, and ID ready helps speed things up.
We issue your pre-approval letter so you can shop with confidence. This is your green light to start making offers.
You find a home, make an offer, and it gets accepted. Send a copy of the contract to your loan officer immediately.
Our team verifies your application and the property. If the underwriter needs additional documents, we'll let you know right away and work with you to get them.
Conditional approval is issued. We clear any remaining conditions and work toward your Clear to Close.
Once you're Clear to Close, we coordinate everything so you can sign, close, and get your keys — on time and without drama.
Section 10
Different home types come with different costs, responsibilities, and financing considerations.
A standalone structure on its own lot. No shared walls, no HOA (usually). Full control over your property. Most common financing options apply.
A community of single family homes or townhouses with shared amenities — pools, playgrounds, green spaces. An HOA manages common areas and charges a monthly fee.
You own your unit; an HOA manages the building exterior and common areas. Often lower price points. Financing can vary — some condos require special loan products.
Section 11
The home matters — but so does where it sits. Here's what to think about before you make an offer.
Rural or suburban? How far is your workplace, grocery store, or the places you go every week? Think about your daily life, not just the home itself.
Even without kids, a strong school district correlates with higher home values and a stronger community overall.
Higher rates of homeownership tend to correlate with safer, more invested communities. Do your research — and trust your gut.
Look at comparable sales over the past few years. A neighborhood with consistent appreciation is a better long-term bet than one with volatile swings.
Owner-occupied neighborhoods tend to be better maintained. Homeowners have a financial stake in keeping property values up.
New to Northern Virginia? Ask us about the areas we know best — Gainesville, Bristow, Haymarket, Manassas, and beyond. We live and work here too.
Section 12
Always pay for a professional home inspection. Use this as a reference during your home tours.
Section 13
Keep track of the homes you tour. The details blur together fast — use this to stay organized.
We're here when you are. No pressure, no jargon — just a real conversation about what's possible for you.