First-Time Homebuyer Loans — Conventional & Jumbo

I work with first-time homebuyers who are entering the market at a higher price point and need clear, strategic guidance through both conventional and jumbo financing. Many of these clients are early in their wealth-building journey — strong income, strong potential — but navigating larger loan structures for the first time.

My role is to simplify the process, structure the financing intelligently, and ensure you're positioned competitively from the start. It's not just about getting approved — it's about helping you make a confident, well-informed entry into a more sophisticated level of homeownership.

Conventional loans follow Fannie Mae and Freddie Mac guidelines and are capped at the conforming loan limit ($806,500 in most counties for 2026, higher in high-cost areas like California and the Northeast). For first-time buyers in this range, conventional offers the most flexibility on down payment — as low as 3% — and the cleanest path to qualifying.

Jumbo loansexceed the conforming limit. They're held on lender balance sheets or sold to private investors, which means tighter underwriting — but if your income, credit, and reserves are strong, jumbo opens the door to homes that conventional simply can't reach. Down payment typically starts at 10-20% depending on loan size.

For many of the first-time buyers I work with — physicians early in practice, business owners, professionals with equity compensation — the right answer is jumbo. The wrong answer is wasting weeks shopping a conventional rate on a price point that needs jumbo structure from day one.

Before you write your first offer, I review:

• Income structure — W-2, self-employed, 1099, equity comp, bonus and RSU treatment.
• Reserves — how many months of payments you can document post-close. Critical for jumbo.
• Credit profile — score, depth of file, any items worth addressing before lock.
• Loan structure — fixed vs. ARM, 30-year vs. 15-year, single-loan vs. piggyback to avoid jumbo overlays.
• Rate lock timing — when to lock, float-down options, and how to read the market.

The goal is to walk into your offer with a pre-approval that listing agents take seriously — and a financing plan that holds up through underwriting without surprises.

First-time buyer in medicine? Look at the Physician Mortgage Loan — 0% down, no PMI, student debt excluded from DTI.

Self-employed or business owner? The Bank Statement Loan qualifies you on deposits, not tax returns.

Want to plan the numbers before we talk? Try the Write-Off Calculator to see how tax strategy interacts with qualifying income.