🏡 5 Things to Know Before Buying Your First Home in St. Louis
Buying your first home is exciting — but it can also feel overwhelming. Here are five key things every St. Louis homebuyer should know before starting their journey.
1) Get Pre-Approved Early
A pre-approval gives you a clear budget, makes your offer stronger, and helps you know what to expect in your monthly payment. At West Capital Lending, we can pre-approve you in as little as 24 hours.
2) Know Your Down Payment Options
- 3% down for Conventional loans
- 3.5% down for FHA loans
- Assistance programs that can help with down payment and closing costs
3) Budget for Closing Costs
Plan for 2–5% of the purchase price in closing costs (appraisal, title insurance, prepaid taxes & insurance). In some cases, seller credits can reduce what you bring to closing.
4) Factor in Property Taxes
In St. Louis, property taxes vary by county and municipality. Two homes at the same price can have different monthly payments. Always review estimated taxes before making an offer.
5) Choose the Right Loan Program
- Conventional – great for strong credit & stable income
- FHA – more flexible on credit
- VA – zero down for eligible veterans
- Investor loans – options for building rental portfolios
âś… Ready to explore your options?
Let’s make your first home purchase simple and stress-free.
