The answer
This guide walks through the process in Eugene and Springfield, from the first lender conversation to receiving the keys. Shawna Locken works with first-time buyers on Team Burke and can help you organize those steps around your move.
Start with three numbers
| Number | What to include | Why it matters |
|---|---|---|
| Monthly housing budget | Mortgage payment, property taxes, insurance, any mortgage insurance or HOA dues, utilities, and maintenance | A comfortable payment is more useful than the largest loan you qualify for |
| Purchase funds | Down payment, closing costs, inspections, and moving expenses | The down payment is only one part of the upfront cost |
| Savings after closing | Emergency savings and money for repairs or furnishings | Buying a home should leave room for the first unexpected expense |
Use the taxes and insurance estimate for the actual property. Two homes at the same price can have different ownership costs.
Compare lenders and loan options
Speak with lenders authorized to work in Oregon and compare their communication, loan options, fees, and ability to meet your schedule. A local office can be convenient, but the important questions are how the loan works and who will be responsible for getting it closed.
Preapproval helps establish a working price range. It is not final approval of you or a particular home. Ask what documentation remains outstanding and what changes in your income, debts, or savings would affect the loan.
When you have Loan Estimates to compare, use the same loan type, term, and assumptions. Review the rate, lender charges, monthly payment, and estimated cash to close together. The CFPB's Loan Estimate guide explains the form.
Look into Oregon homebuyer assistance early
Oregon Housing and Community Services offers Flex Lending through approved lenders, including FirstHome and NextStep. Depending on the product and your qualifications, assistance may help with the down payment or other purchase costs.
Ask an approved lender which program fits your circumstances, what income and purchase limits apply, whether education is required, and how any assistance is repaid or forgiven. Do this before relying on the funds in an offer. Assistance should be part of a loan comparison, including the first mortgage's rate and the terms of any second mortgage.
Choose representation and understand the agreement
Discuss the buyer representation agreement before beginning a represented home search. Review the services, duration, compensation, exclusivity, and termination terms, and ask what happens if the seller does not contribute toward your broker's compensation.
Oregon requires buyer representation agreements when brokers assist residential buyers in the circumstances described by the Oregon Real Estate Agency. Visiting an open house on your own does not, by itself, require signing one. If you contact a listing agent, ask whom that agent represents and how your interests would be handled.
Search by your routine and the home's condition
Start with the features you need: bedrooms, workspace, parking, outdoor space, access, or a manageable trip to work. Then compare available homes across the areas that fit.
Bethel, Santa Clara, Cal Young, and Springfield are useful places to explore, with different homes available at different times. None is automatically the right first-time-buyer location. Compare individual properties, maintenance needs, and total costs.
If school assignment matters, verify the address with the district. Our Eugene schools guide explains how to start that research.
Make an offer you understand
An offer includes more than the price. Discuss the earnest money deposit, financing, inspection rights, appraisal terms, closing date, and possession date before signing. Ask which deadlines you must meet and what each contingency allows you to do.
Earnest money generally becomes a credit toward the purchase when it closes. Whether it is returned if the transaction ends depends on the agreement and circumstances; it is not automatically refundable.
During the inspection period, consider the findings in the context of your budget and the property. An inspection evaluates condition within its scope. A lender's appraisal addresses value and loan requirements; it does not replace an inspection. Obtain insurance quotes early enough to understand availability and cost before your relevant deadlines.
Prepare for closing and the move
Review the final loan documents and settlement figures with your lender and escrow officer. For most home purchase mortgages, the Closing Disclosure must be received at least three business days before closing. Use that time to resolve differences from the earlier estimate. The CFPB's Closing Disclosure guide provides a useful walkthrough.
Confirm how to deliver funds directly with the escrow company using a known phone number. Arrange utilities, a final walkthrough, and your move around the contractual possession time. Signing documents and receiving keys are not necessarily the same event.
Plan your first purchase
Tell us your target monthly budget, where you need to be, and when you hope to move. Contact Team Burke to discuss a first home purchase with Shawna.
The team
First-time homebuyer questions
Do I need a 20% down payment?+
Not for every loan. Some programs allow a smaller down payment for eligible borrowers. Ask lenders to compare the upfront cash, monthly payment, mortgage insurance, and eligibility requirements of the options available to you.
How much are buyer closing costs in Eugene?+
They depend on the loan, service providers, property, prepaid items, and negotiated credits. Request a property-specific estimate instead of relying on one percentage. Keep inspection and moving expenses in your budget as well.
Can I buy in Springfield while working in Eugene?+
Yes. Include Springfield if available homes meet your needs, then test the trip to your actual workplace. Compare the full cost and condition of the homes you are considering on either side of the city boundary.
When should I contact a real estate agent?+
Early enough to coordinate the search with your financing and move date. Shawna Locken can help you identify the next step whether you are preparing to buy or already preapproved.