Trading rent checks for equity can feel daunting, but it doesn’t have to be when you work with an experienced mortgage lender in West Asheville. At GoPrime Mortgage, we guide our neighbors through a clear, solution-oriented path to homeownership without jargon or false promises. Below, we break down the process into ten practical steps you can get started on today.
1. Assess Financial Readiness
Before browsing Zillow listings, take a candid look at your current finances:
- Emergency cushion: Have three-to-six months of living expenses in savings. Closing costs and post-move surprises feel lighter when you have a buffer.
- Debt-to-income ratio: Add up monthly debts (car, student loans, credit cards) and divide by gross monthly income to calculate this percentage. Many competitive loan programs prefer this figure below ~43%, though some allow more with compensating factors.
- Cash for down payment & closing: Minimum cash you will need varies by loan type: USDA and VA options can offer $0 down; other loans can start at 3%-3.5% down for qualified buyers. Conventional loan options can be 3% down, but using Down Payment Assistance (DPA) can make the down payment close to 0% as well.
2. Set a Realistic Budget
Monthly mortgage payments include more than principal and interest. Be sure to consider:
- Property taxes & homeowners insurance (Buncombe County rates can differ based on city limits)
- HOA dues if the home is in a planned community or a Homeowners Association
- Maintenance & utilities (owning means you’re the landlord now!)
Use our free mortgage calculator to identify a comfortable payment range. We’re happy to run scenarios side-by-side so you can see how a little more (or less) of a down payment would affect your monthly cash flow.
“My partner and I are grateful to have worked with a local mortgage company to purchase our home. Zack explored different lending options and found us the lowest rate available for our situation. We really appreciated his care for how we felt most comfortable allocating our money. And with our tight timeline, he kept everything moving forward so we could close on time! Thanks for being part of our journey and helping us feel welcome in our new home town!”
—Carlisle S., 5-Star Google Review
3. Check Your Credit Reports
Pull your free annual reports from Equifax®, Experian®, and TransUnion®, and look over all credit that is being reported in your name:
- Scan for errors: Incorrect late payments or balances can drag scores down.
- Dispute inaccuracies in writing: When you make a dispute, bureaus must investigate within 30 days.
- Tackle revolving balances: If there are any high balances that take up a large percentage of your total credit allowance, consider working to pay them down. Lower utilization of credit can raise your score.
Tip: Consider a Pre-Opt Out with the 3 credit bureaus to protect your privacy, and when a lender does pull credit, you’ll get a few less spam (https://www.optoutprescreen.com/).
If you’re not sure where to begin, we invite you to schedule a quick meeting with us. We’ll be happy to map out a simple game plan together.
4. Explore Mortgage Options
Mortgage solutions aren’t one-size-fits-all. Some highlights for first-time West Asheville homebuyers:
| Loan Type | Down Payment | Key Benefit |
| USDA | 0%* | No-down-payment option for eligible areas outside city limits (ideal for buyers open to scenic outskirts) |
| FHA | 3.5%* | Flexible credit requirements; allows gift funds for down payment |
| VA | 0%* | For qualified Veterans and service members |
| Renovation (FHA 203(k)) | 3.5+%* | Finance purchase and improvements in one loan (great for fixer-uppers) |
*All loans are subject to credit approval and property eligibility. Exact down-payment requirements may vary based on your qualifications and program guidelines. Talk with us to learn which options make sense for your goals.
5. Get Pre-Approved
A pre-approval letter signals to sellers that your financing is solid. Because we process underwriting in-house, many clients receive written pre-approvals within one business day of submitting documents, which may include:
- Two most recent pay stubs
- Last two years’ W-2s (or 1099s)
- Two months of bank statements
- Photo ID
You’ll walk away knowing your maximum purchase price, estimated payment, and funds needed to close before you fall in love with a home. View our Mortgage Document Checklist here »
Call (828) 348-1907 » Contact us online » Get Google Maps directions »
6. Find a Local Real Estate Agent
A seasoned West Asheville agent adds value well beyond unlocking the doors:
- Neighborhood insights from walkable West Asheville bungalows to pastoral Fairview mini-farms
- Pricing expertise to make competitive offers without overpaying
- Negotiation muscle for repair requests, closing-cost concessions, and timing strategies
We maintain a short list of trusted partners who share our down-to-earth approach if you would like an introduction.
7. Search for Homes
With a budget and an agent in place, start touring:
- Prioritize must-haves (bedroom count, commute) versus nice-to-haves (a claw-foot tub).
- Attend open houses; ask about HOA rules, short-term rental restrictions, and future zoning changes.
- Keep an open mind; USDA-eligible properties just outside city limits can offer more square footage for the price.
Your agent will set up customized MLS alerts, and our mobile app keeps your updated payment estimates one tap away.
8. Make an Offer
When you’ve found the house:
- Review recent sales to settle on a competitive, data-driven price with your agent.
- Select contingencies (inspection, financing, appraisal) and timeline.
- Provide earnest-money deposit to demonstrate that your offer is serious (the number can be flexible in our market, depending on the circumstances, but 1-2% of purchase price is typical).
We can issue a property-specific pre-approval letter—often within minutes—to strengthen your bid.
9. Conduct Inspections & Appraisal
Inspections protect you from expensive surprises. In Western North Carolina, common add-ons include:
- General home inspection
- Radon testing (mountain regions can have higher levels)
- Wood-destroying insect report
- Septic/well evaluation for rural homes
We’ll also order the appraisal to confirm the home’s value supports the loan amount. If issues arise, your real estate agent can negotiate repairs or credits.
10. Close the Deal
You’re almost there! A few final to-dos:
- Review the Closing Disclosure (we’ll send it at least three days before your closing/signing).
- Secure homeowners insurance.
- Wire certified funds for closing.
- Take the final walkthrough to verify agreed-upon repairs and property condition.
- Sign documents with your chosen legal team, and receive keys from your real estate agent.
With the keys in hand, you’ve officially fired your landlord!
Ready to Get Started?
Let’s chat about your goals and see which loan options might fit. No pressure—just neighbors helping neighbors. Call, click, or come in, or schedule a virtual meeting to let us help you transition from renter to owner. You can find us at 862 Haywood Rd, Asheville, NC 28806, or give us a call at (828) 348‑1907.
