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First-Time Homebuyer Guide

If this is your first home — or your first U.S. mortgage — start here. DOS specializes in first-time buyers, work-permit (EAD) holders, and anyone building U.S. credit from scratch. We use both FICO and VantageScore, so a thin file isn't a dead end.

// build_your_credit // the_mortgage_process // dont_do_these_during_the_process // what_dos_does_differently // trusted_resources()

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Your credit score decides which programs you qualify for and what rate you get. Here is how to move it in the right direction — fast.

FICO vs VantageScore — why DOS uses both

FICO 5 / 4 / 2 is what the mortgage industry uses by default. Most agency loans (conventional, FHA, VA, USDA) look at your FICO middle score.
VantageScore 3.0 / 4.0 is newer. It scores thin and new files more aggressively — and it scores work-permit holders (EAD) building U.S. credit much faster than FICO does.
DOS accepts both. If your VantageScore is clean while your FICO is still building, we can structure conventional loans that other lenders wouldn't touch — including for EAD holders with no long FICO history.

5 things that move credit in 90 days

Open 2-4 tradelines that report monthly

Secured card from your bank, a credit-builder installment loan, an authorized-user spot on a family member's old account. Ask the issuer to report to all three bureaus.

Keep utilization under 10% on every card

Pay the balance before the statement closes — not the due date. Bureaus see the statement-close balance, not what you actually paid.

Never miss a payment

Set autopay for at least the minimum on every account. A single 30-day late drops you 60-100 points and stays on your report for 7 years.

Don't close your oldest account

Age of credit is 15% of your FICO. Even a $0 balance old card helps — keep it open and use it for a small recurring charge.

Don't apply for new credit in the 6 months before applying

Each hard pull drops you 5-10 points temporarily. Spreading inquiries over time is fine; clustering them right before a mortgage is not.

For work-permit holders & new arrivals

If you have an EAD (work permit) and a valid SSN or ITIN, you can build U.S. credit fast. A secured card at a major bank (Bank of America, Chase, Wells Fargo, Capital One) is the fastest start. After 6 months of clean payment history you will have a VantageScore. After 12 months you will have a FICO score. Once your VantageScore reaches 660+, DOS can put you into a conventional loan — even without a long FICO history. We have lenders who price specifically on VantageScore.

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From the day you apply to the day you get keys is typically 30-45 days. Here is what happens at each phase.

1
Pre-qualification
Day 0-1
Soft credit pull (no FICO hit), basic income and asset review. Tells you what programs and price range you qualify for. Free, no commitment.
2
Document gathering
Day 1-3
2 years of W-2s and tax returns, 2 months of bank statements, recent paystubs, ID. Self-employed adds 2 years of business returns. Foreign nationals add international docs.
3
Application + Loan Estimate
Day 3-6
Federal TRID rules require us to give you a formal Loan Estimate within 3 business days of a complete application. Rate locked here if you want.
4
Processing
Day 6-14
Appraisal ordered, title work ordered, employment verified, conditions issued by the underwriter.
5
Underwriting
Day 14-20
Underwriter reviews everything and issues conditional approval. Almost always 5-10 follow-up conditions — small docs to clear the file.
6
Clear to Close
Day 20-25
All conditions met, file is clean, closing scheduled.
7
Closing Disclosure
Day 25
Federal law requires 3 business days with the final Closing Disclosure before signing. No surprises at the table.
8
Closing
Day 28-35
Sign documents, funds wire, keys transfer. Done.

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Once you have started an application, the wrong move can kill the loan. Here is what underwriters watch for:

Don't change jobs

New job = new probationary income. Wait until after closing.

Don't open new credit or finance a car

Every new tradeline impacts DTI and FICO. We will have to re-run pricing — and you might lose your approval.

Don't make large unsourced deposits

Underwriters trace every deposit over ~$1,000. Cash you cannot paper-trail cannot be used.

Don't co-sign for anyone else's loan

Their debt becomes your debt for underwriting purposes.

Don't max out credit cards

Utilization jumping above 30% drops your FICO mid-process and may trigger a re-price.

Don't ignore underwriter requests

Every day a condition sits unanswered is a day your rate lock burns. Respond within 24 hours.

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FICO + VantageScore acceptance

We work with lenders who price using both. New-credit holders aren't dead-on-arrival.

Work-permit conventional

EAD holders with VantageScore 660+ qualify for conventional with us. Most lenders won't touch this.

DPA stacking

FL Hometown Heroes, FL Assist, HFA Preferred, Chenoa Fund, county SHIP — all stackable, all underwritten in-house here.

Bilingual end-to-end

Every form, every disclosure, every conversation in Spanish if you prefer. Cuban-born team that talks to your family the way you do.

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> federal consumer-protection guides — neutral, free, and the standard our process aligns to

// ready_to_start?

Pre-qualify in 10 minutes. Soft pull, no FICO hit. We come back with which programs you qualify for and what your real rate looks like.

> pre_qualify_now > talk_to_an_LO

First-Time Homebuyer Guide

// build_your_credit

FICO vs VantageScore — why DOS uses both

5 things that move credit in 90 days

Open 2-4 tradelines that report monthly

Keep utilization under 10% on every card

Never miss a payment

Don't close your oldest account

Don't apply for new credit in the 6 months before applying

For work-permit holders & new arrivals

// the_mortgage_process

Pre-qualification

Document gathering

Application + Loan Estimate

Processing

Underwriting

Clear to Close

Closing Disclosure

Closing