First-Time Buyer FAQ in Amarillo: Down Payments, Inspections, and Timelines

Buying a home for the first time can feel overwhelming, but understanding the basics makes the journey much smoother. At Green Door Group, our goal is to give first-time buyers in Amarillo the knowledge and confidence they need to move forward—step by step, and without confusion.

What to Know About Down Payments

One of the most common questions first-time buyers have is about the down payment.

• General Range: Some loan programs require as little as 3% down, while others may ask for 5%, 10%, or 20%.

• What Impacts the Amount: The loan type, lender requirements, and individual financial circumstances.

• Tip: It’s helpful to talk with a qualified lender to learn which options fit your situation.

For additional educational resources, visit The Home Buying Process.

(Note: We do not endorse specific lenders. Always consult your chosen financial professional for loan details.)

Inspections: Why They Matter

Another important step in the process is the home inspection.

• Purpose: Inspections give buyers a clearer picture of the property’s current condition.

• What They Cover: Common items in Amarillo include HVAC systems, roofing (hail and wind are frequent concerns in the Panhandle), plumbing, and electrical systems.

• Outcome: Buyers can use inspection findings to decide whether to proceed, request repairs, or negotiate credits.

Learn more about local homeownership topics on our Blog Page.

Timelines in Texas Transactions

The buying process in Texas follows a fairly structured timeline:

1. Offer Accepted → The contract is executed.

2. Option Period → A negotiated timeframe (often several days) where inspections occur and buyers can terminate for any reason.

3. Appraisal & Financing → Lenders review property value and finalize loan approval.

4. Closing → Typically occurs 30–45 days after contract execution, depending on lender and title timelines.

Every transaction is unique, but knowing these phases helps set expectations.

Final Takeaway

For first-time buyers in Amarillo, knowledge is your strongest tool. Understanding how down payments work, what inspections cover, and how timelines unfold ensures you’re better prepared for each step.

👉 Ready to learn more about the homebuying process? Visit Green Door Group for resources, or reach out to schedule a consultation.