Buying your first home in San Jose: a 90 day plan

Most first time buyers in this county spend a year getting ready and then compress all the decisions into the final three weeks. It does not have to go that way. Here is the sequence I give clients who tell me they want to buy in about three months.

Days 1 to 30: get the real number

Start with a planning call. No documents, no credit pull, just income, savings, timing and the payment you actually want to live with. That last part matters more than the maximum you qualify for. A lender can approve you for a payment that makes your life small.

In the same month, gather documents. Two pay stubs, two years of W-2s, two months of every account statement including brokerage, and your equity portal export if you receive stock. If you are self employed, twelve to twenty four months of bank statements instead.

Then leave your credit alone. No new cards, no car lease, no financing a couch. A single new account can move your score enough to change your pricing tier.

Days 31 to 60: get underwritten

This is the step most buyers skip, and it is the one that wins offers. A full pre approval means credit is pulled, documents are reviewed and an underwriter has approved the file subject to a property. In a competitive listing, that letter and a phone call from your lender to the listing agent is worth more than a small price increase.

Use this month to decide your down payment tier deliberately. On a $1.1 million condo, the difference between 10% and 20% down changes the payment, the mortgage insurance and your remaining reserves. Look at all three, not just the down payment.

• Confirm gift funds with family early, including who is sending and from which account.
• Ask your agent for HOA documents on any condo before you write, so project review does not surprise you.
• Get an insurance quote on a sample property. In some parts of the county it is higher than people expect.

Days 61 to 90: shop and write

Now the fun part. Your agent sends listings, you see homes on weekends, and when you find the one, we update the approval letter for that property and I call the listing agent the same day.

Once your offer is accepted, the appraisal goes out within 24 hours. Conditions get cleared as they arrive rather than in one pile at the end. Closing figures come to you two days before signing so there is nothing to react to at the notary.

Twenty one days from acceptance is normal. I have done fifteen when an appraisal was waived, and I would rather promise twenty one and deliver early.

What to ignore

Ignore anyone who tells you to wait for rates to drop before buying. Nobody, including me, knows what pricing does next quarter. If the payment works today and you plan to stay five years or more, the timing question is mostly noise. If the payment does not work today, no rate forecast fixes that.

Ignore online calculators that use a 1.1% property tax estimate for California. Your first year includes a supplemental bill based on the new assessed value, and a good estimate includes it.

And ignore the idea that you need 20% down. It is a fine goal. It is not a requirement, and waiting three extra years to reach it has its own cost.

Sample figures for illustration only. Not an offer to lend or a rate lock. Actual pricing depends on credit, loan amount, property, occupancy, term and the market on the day you lock.