The 90 days before you start looking

Most first-time buyers who feel like the process moved fast actually skipped the preparation phase. The 90 days before you tour your first house are where most of the meaningful decisions get made.

Pull your credit reports

You are entitled to a free report from each of the three bureaus (Equifax, Experian, TransUnion) once every 12 months through annualcreditreport.com. Pull all three. Look for anything wrong — old accounts still marked open, disputes that have not resolved, addresses you never lived at. Every error fixed now improves your borrowing terms later.

Stabilize your credit activity

In the 60–90 days before applying for a mortgage, avoid opening new credit lines, closing old accounts, or running up balances on cards you already have. Every one of those actions moves your score in ways your lender will notice.

Save for the down payment — and the cushion

Most conventional loans in California start at 3–5% down for primary residences. FHA loans start at 3.5% down. But down payment is not the only cash requirement. Budget also for:

  • Closing costs — typically 2–3% of the purchase price in California
  • Moving costs, initial furniture, and immediate repairs — first-time buyers routinely underestimate this
  • Post-close reserves — some lenders require you to show 2–6 months of mortgage payments in the bank at closing

What lender pre-qualification actually gets you

"Pre-qualification" and "pre-approval" are used interchangeably in casual conversation but they mean different things.

Pre-qualification is a lender's estimate of what you probably qualify to borrow, based on numbers you self-report. It takes an hour and is essentially a rough estimate.

Pre-approval is a written commitment from a lender based on verified income, credit, and assets. It takes 3–7 business days and requires you to submit real documentation. In Southern California's competitive markets, sellers generally will not take an offer seriously without a real pre-approval letter — a pre-qualification is often not enough.

Aegis introduces every first-time buyer to Patty Gadd, our preferred loan officer, before we start touring homes. Getting pre-approved first means you know your actual budget, not a hopeful one — and you can move quickly when the right home appears.

How offers work in a Southern California market

Southern California is not one market — Newport Beach is different from Long Beach is different from Garden Grove. But the mechanics of an offer are largely consistent.

The offer package

A competitive offer includes:

  • Your written offer price and terms
  • Pre-approval letter from your lender
  • Proof of funds for the down payment and reserves
  • Earnest money deposit (typically 1–3% of the offer price)
  • Any contingency terms and their timelines

Contingencies

The three standard California contingencies:

  • Inspection contingency (typically 17 days) — you can back out based on physical inspection findings
  • Appraisal contingency (typically 17 days) — you can back out if the appraisal comes in below the offer price
  • Loan contingency (typically 21 days) — you can back out if your lender does not fund on the terms you expected

In competitive multi-offer situations, buyers sometimes waive contingencies to strengthen their offer. This is a real risk trade-off and we walk through it carefully before recommending it — the earnest money deposit is on the line if a waived contingency later reveals a problem.

The inspection period and what to do with it

Once your offer is accepted, the inspection contingency period is your window to learn what you are actually buying. Use every day of it.

What to inspect

  • General home inspection — always. Non-negotiable.
  • Termite / pest inspection — required by most lenders in California anyway
  • Sewer line camera scope — for any home built before 1980
  • Roof inspection — if the general inspection flags anything or the roof is over 15 years old
  • Foundation / structural — if there are visible cracks, sloping floors, or signs of past movement
  • Chimney inspection — if the home has a fireplace and you plan to use it
  • Pool inspection — separate inspector who specializes in pool equipment and shells

What to do with the report

Inspection reports are usually alarming on first read. Everything is a "recommendation" or "safety concern" because the inspector is protecting themselves. Aegis helps you triage:

  • Items that are cosmetic and will not affect the house — usually accept as-is
  • Items that will cost real money to fix within 12 months — negotiate a credit or price reduction
  • Items that are safety-critical or would kill your homeowner's insurance renewal — must be fixed before close

Closing costs, insurance, and the last-mile logistics

Closing costs

Budget 2–3% of the purchase price for California closing costs. Common line items include:

  • Lender fees (origination, appraisal, credit report)
  • Escrow fees (split with seller, often ~1% of price total)
  • Title insurance
  • Recording fees + county transfer tax
  • Prepaid property tax + prepaid insurance for the year ahead
  • Prepaid interest from close date to end of the month

Homeowner's insurance

California's insurance market has tightened significantly since 2022. Get insurance quotes early in the process — for some properties (older wood-framed homes in fire-adjacent areas, coastal properties with wind exposure) the quotes will materially change your calculus. Do not wait until day 20 of a 30-day close.

The final walk-through

Within 5 days of closing, you do a final walk-through of the property. Confirm:

  • Everything the seller agreed to fix has been fixed
  • All included appliances and fixtures are still there and functional
  • The property is in the same or better condition as when you offered
  • No new damage or missing items

After close

The keys are yours, but a few housekeeping items in the first 30 days save headaches later:

  • Change every exterior lock and garage code
  • Locate and label the main water shutoff, electrical panel, gas shutoff
  • Set up a home maintenance file — every inspection report, warranty, and receipt in one place
  • Update your mailing address with the USPS, DMV, employer, and bank
  • Confirm your mortgage payment autopay is set correctly

How Aegis fits into a first-time-buyer transaction

Aegis represents first-time buyers with the same principles we apply to seasoned investors: honest pricing analysis, thorough due diligence, and the time to answer every question — no matter how basic — because the first time through the process, no question is basic.

If you are thinking about buying your first home in Southern California, we would rather talk with you 6 months before you plan to buy than 6 weeks after you have started touring homes. Reach out to schedule a no-obligation consultation.