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Buying8 min readFebruary 28, 2026

The Complete First-Time Homebuyer Guide for PA & NJ in 2026

Your First Home Awaits

Buying your first home is one of the biggest financial decisions you'll ever make. If you're looking to buy in Pennsylvania or New Jersey, you're in the right place. The Taberne Group has helped hundreds of first-time buyers navigate the process.

Step 1: Check Your Credit Score

Before anything else, pull your credit report from all three bureaus. Most conventional loans require a minimum score of 620, while FHA loans can go as low as 580 with 3.5% down. If your score needs work, we can help you create a plan to improve it.

Step 2: Get Pre-Approved

A pre-approval letter shows sellers you're serious. It involves a full review of your income, assets, and credit history. The Taberne Group can typically get you pre-approved within 24-48 hours.

What You'll Need:

  • Last 2 years of W-2s or tax returns
  • Last 30 days of pay stubs
  • Last 2 months of bank statements
  • Valid government-issued ID
  • Step 3: Understand Your Loan Options

  • Conventional: Best for borrowers with 620+ credit and 3-20% down
  • FHA: Great for first-time buyers with lower credit scores (580+) and 3.5% down
  • VA: Zero down payment for eligible veterans and active military
  • USDA: Zero down for eligible rural properties
  • Step 4: Set Your Budget

    Your monthly mortgage payment should generally not exceed 28% of your gross monthly income. Don't forget to factor in property taxes, insurance, and PMI if your down payment is under 20%.

    Step 5: Start House Hunting

    Work with a real estate agent who knows your target area. In the Philadelphia metro and South Jersey markets, homes can move fast — having your pre-approval ready is essential.

    Step 6: Make an Offer and Close

    Once you find the right home, your agent will help you submit a competitive offer. After acceptance, we'll finalize your loan, order the appraisal, and guide you through to closing day.

    Ready to Get Started?

    The Taberne Group is here to make your first home purchase as smooth as possible. Contact us today to get pre-approved!

    Ready to Take the Next Step?

    Get pre-approved in as little as 24 hours. The Taberne Group is here to help.

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