--- title: "First Time Home Buyer | Rob Poulton, eXp Realty" description: "First-time buyer guide for Collin County. Learn about loans, down payments, and the home buying process in Frisco, Plano, and Prosper." lang: en json-ld: | { "@context": "https://schema.org", "@type": [ "RealEstateAgent", "LocalBusiness" ], "@id": "https://mckinneytxrealestate.com/#business", "name": "Rob Poulton, eXp Realty — McKinney TX Real Estate", "url": "https://mckinneytxrealestate.com", "email": "rob@lonewolfrealtygroup.com", "image": "https://mckinneytxrealestate.com/og-default.jpg", "description": "McKinney, Texas real estate specialist with eXp Realty. Expert guide to McKinney ISD schools, Stonebridge Ranch, Painted Tree, Trinity Falls, and North Texas living in Collin County.", "priceRange": "$$", "areaServed": [ { "@type": "City", "name": "McKinney", "sameAs": "https://en.wikipedia.org/wiki/McKinney,_Texas" }, { "@type": "City", "name": "Frisco" }, { "@type": "City", "name": "Plano" }, { "@type": "City", "name": "Prosper" }, { "@type": "AdministrativeArea", "name": "Collin County, TX" } ], "address": { "@type": "PostalAddress", "addressLocality": "McKinney", "addressRegion": "TX", "postalCode": "75070", "addressCountry": "US" }, "geo": { "@type": "GeoCoordinates", "latitude": "33.1972", "longitude": "-96.6153" }, "hasMap": "https://www.google.com/maps/place/McKinney,+TX", "openingHoursSpecification": [ { "@type": "OpeningHoursSpecification", "dayOfWeek": [ "Monday", "Tuesday", "Wednesday", "Thursday", "Friday", "Saturday", "Sunday" ], "opens": "08:00", "closes": "20:00" } ], "broker": { "@type": "RealEstateAgent", "name": "eXp Realty" }, "license": "TX TREC #846287" } --- [rob@lonewolfrealtygroup.com](mailto:rob@lonewolfrealtygroup.com) [![Rob Poulton, eXp Realty – McKinney TX Real Estate, brokered by eXp Realty](/assets/logo-white-CjQwYmTp.webp)Brokered by eXp Realty ](/) [Home](/) [Neighborhoods](/neighborhoods) [Market Report](/market-reports) [Lifestyle](/lifestyle) [Buyers](/buyers-guide) [Sellers](/sellers-guide) [Articles](/articles) [Contact](/contact) First Time Home Buyer # Your First Home in Collin County Buying your first home is one of the most exciting milestones of your life. We make it simple, transparent, and stress-free with expert guidance at every step. [Start Your Search](/contact)[Browse Homes](https://search.lonewolfrealtygroup.com/i/mckinney-tx) $485K Median home price, Greater Dallas 3% Minimum down with conventional financing 45-60 Average days from offer to keys 0% Texas state income tax The Process ## Step by Step Buyer's Guide ### 01. Get Pre-Approved Before you start browsing, secure a mortgage pre-approval. This shows sellers you are serious and helps you understand your true budget. We work with trusted local Dallas lenders who specialize in first-time buyer programs, including FHA loans (3.5% down), conventional loans (as low as 3% down), and USDA zero-down options for qualifying areas in Hays and Collin counties. ### 02. Define Your Must-Haves Collin County offers incredible variety for first-time buyers. Consider school districts (McKinney ISD), commute corridors (183, SH-121, Dallas North Tollway), and lifestyle priorities. Neighborhoods like Anna ### 03. Tour Homes and Communities We arrange private showings built around your schedule and priorities. As your buyer's agent, we represent you exclusively at no cost to you as a first-time buyer. Our team has deep knowledge of Collin County's neighborhoods, new construction communities, and off-market properties that never hit the public listings. ### 04. Make a Winning Offer Writing your first offer can feel daunting. We guide you through every term: purchase price, earnest money (typically 1% in Dallas), the option period (your inspection window, usually 7 to 10 days), closing date, and any seller concessions toward closing costs. We negotiate firmly on your behalf so you get the best possible terms. ### 05. Inspections and Due Diligence During your option period, we coordinate a full home inspection, foundation evaluation (especially important in Central Texas clay soils), and any specialty inspections. We review every report with you, help you understand what is material versus cosmetic, and negotiate repairs or price reductions when warranted. ### 06. Appraisal and Final Approval Your lender orders an independent appraisal to confirm the home's value matches your loan amount. We manage all contract deadlines, keep communication flowing between your lender and the title company, and flag any issues before they become problems. ### 07. Closing Day Texas closings happen at a title company. You'll sign documents, wire your down payment and closing costs (typically 2 to 4% of the purchase price in Texas), and receive your keys. We walk alongside you every step, review all documents, and celebrate with you as you become a homeowner. Financing Options ## Loan Programs for First-Time Buyers There are more paths to homeownership than most buyers realize. Here are the programs we most commonly use for first-time buyers in Central Texas. ### FHA Loans As low as 3.5% down with flexible credit requirements. Ideal for buyers building their credit history. ### Conventional 3% Down Fannie Mae HomeReady and Freddie Mac Home Possible programs offer low down payments with no mortgage insurance once you reach 20% equity. ### USDA Rural Loans Zero down payment for homes in qualifying areas of Hays, Caldwell, and parts of Collin County. ### Texas First Time Homebuyer Program The Texas State Affordable Housing Corporation offers down payment assistance and below-market interest rates for qualifying buyers. ### VA Loans Zero down, no mortgage insurance, and competitive rates for eligible veterans and active duty service members. ### Down Payment Assistance Multiple city and county programs exist across the Dallas–Fort Worth area. We connect you with the right resources for your specific situation. Why eXp Realty ## A Team Built for First-Time Buyers ### Patient and Educational We know you have questions. We take the time to explain every step, every document, and every decision so you never feel lost or pressured. ### Market Expertise With deep roots in Collin County, we know which neighborhoods offer the best long-term value, school district boundaries, and where inventory is heading. ### Your Advocate As your exclusive buyer's agent, our fiduciary duty is entirely to you. We negotiate hard for your best interests at every stage of the transaction. ### Full-Service Support From recommending lenders and inspectors to coordinating repairs and managing closing timelines, we handle the details so you can focus on the excitement. Common Questions ## First-Time Buyer FAQ ### How much do I need to save before buying? Beyond the down payment (3 to 20% depending on loan type), plan for closing costs of roughly 2 to 4% of the purchase price, plus a 3 to 6 month emergency fund. In Collin County, many sellers will contribute to closing costs if requested strategically. ### Does working with a buyer's agent cost me anything? No. In Texas, the seller typically pays buyer's agent commissions. You receive full professional representation at no direct cost to you. ### How long does the buying process take? From pre-approval to closing typically takes 45 to 90 days. Pre-approval itself can be done in as little as 24 to 48 hours with the right lender. ### What credit score do I need? FHA loans accept scores as low as 580. Conventional loans typically require 620 or higher. The higher your score, the better your interest rate. We can connect you with lenders who specialize in working with first-time buyers at any credit level. ### Should I buy new construction or an existing home? Both have advantages. New construction offers warranties, modern finishes, and sometimes builder incentives on financing. Existing homes often have more established landscaping, character, and negotiating room on price. We help you evaluate both options for your situation. Ready to Begin ## Let's Find Your First Home Schedule a no-pressure consultation with our team. We'll review your goals, walk you through financing options, and build a personalized plan to get you into your first home. [Schedule a Free Consultation](/contact) [![Rob Poulton, eXp Realty – McKinney TX Real Estate, brokered by eXp Realty](/assets/logo-white-CjQwYmTp.webp)](/) Brokered by eXp Realty, LLC. Serving McKinney and Collin County with integrity, expertise, and North Texas results. TX TREC License #846287 Contact Rob Poulton [rob@lonewolfrealtygroup.com](mailto:rob@lonewolfrealtygroup.com) McKinney, TX Quick Links [Home](/)[Neighborhoods](/neighborhoods)[Buyers Guide](/buyers-guide)[Sellers Guide](/sellers-guide)[Market Report](/market-reports)[Articles](/articles)[Contact](/contact) Legal [TREC Information About Brokerage Services](https://www.trec.texas.gov/sites/default/files/pdf-forms/IABS%201-0.pdf)[TREC Consumer Protection Notice](https://www.trec.texas.gov/sites/default/files/pdf-forms/CN%201-4.pdf)[Privacy Policy](/privacy-policy)[Terms of Service](/terms-of-service) ⌂ Equal Housing Opportunity The information provided herein is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor eXp Realty, LLC shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. Listing data is obtained from the Collin County Association of Realtors / NTREIS MLS. Consult a licensed mortgage professional for financing estimates. © 2026 Rob Poulton, eXp Realty. Brokered by eXp Realty, LLC. All rights reserved. [Powered by Azulio.ai](https://azulio.ai)