First-Time Homebuyer’s Guide to Success in the Permian Basin
Avoid costly mistakes and take your first confident step toward homeownership in Odessa, Midland, and beyond.
Welcome to your personalized guide to navigating homeownership in the Permian Basin! I’m Misty Dawn, a mortgage professional based right here in Odessa, TX, and I’ve created this guide to help first-time buyers avoid the top 10 most common (and costly!) mistakes. Whether you're dreaming of a cozy home in Midland or looking for room to grow in Odessa, you're in the right place.
Let’s get started—and if you have questions along the way, don’t hesitate to reach out. I’m here to help guide your path to homeownership.
Explore Your Homebuying Budget
How Much Can I Afford?
How Much Will My Payment Be?
Are You Ready To Buy A Home?
Take this quick quiz to assess your readiness for homebuying in the Permian Basin. Answer a few questions, and I’ll help you determine the next steps for your journey!
Are You Ready To Buy A Home?
Take this quick quiz to assess your readiness for homebuying in the Permian Basin. Answer a few questions, and I’ll help you determine the next steps for your journey!
Top 10 Mistakes First-Time Buyers Make
Mistake #1
Not Checking Your Credit Score First
A strong credit score gives you better interest rates and more loan options. Don't start shopping without knowing where you stand!
Mistake #2
Skipping Pre-Approval
Pre-approval strengthens your offer and clarifies your budget. It’s a must in a fast-moving market like the Permian Basin!
Mistake #3
Ignoring Down Payment Assistance
There are so many options—FHA, VA, USDA, and state programs. You might qualify for help you didn’t even know about!
Mistake #4
Overlooking Hidden Costs
Closing costs, taxes, insurance, and maintenance expenses are often underestimated. Plan ahead to avoid surprises!
Mistake #5
Not Researching the Neighborhood
From schools to commute times, your location matters. A dream home in the wrong spot can quickly become a headache.
Mistake #6
Buying During a Market Peak
Timing is key. Prices rise fast during booms—buy smart, not fast. Partner with a local expert to time it right.
Mistake #7
Skipping a Home Inspection
What you don’t see can hurt you. Inspections uncover costly issues so you can negotiate or walk away wisely.
Mistake #8
Not Having an Emergency Fund
Life happens—oil busts, job changes, surprise repairs. A safety net keeps your home (and peace of mind) secure.
Mistake #9
Rushing the Decision
In a hot market, it’s tempting to leap. But rushing leads to regrets. Be strategic and intentional with every step.
Mistake #10
Not Working with a Local Expert
National lenders don’t know the Permian Basin like I do. A local expert helps you win in this unique market.
More Resources for First-Time Buyers
Download Your Free First-Time Homebuyer Guide
Get your free guide, “Top 10 Mistakes to Avoid When Buying a Home,” to help you navigate the homebuying process with confidence.
Frequently Asked Questions for First-Time Buyers
Frequently Asked Questions for First-Time Buyers
Misty Dawn Mortgages
(432) 230-6278
Individual NMLS: 2154972
Company NMLS: 181106
Copyright © 2025 Misty Dawn Mortgages | All Rights Reserved.
Misty Dawn Locknane | NMLS #2154972 | Misty Dawn Mortgages Powered by Barrett Financial Group, L.L.C. | NMLS #181106 | 275 E Rivulon Blvd, Suite 200, Gilbert, AZ 85297 | TX view complaint policy at www.barrettfinancial.com/texas-complaint | Equal Housing Opportunity | This is not a commitment to lend. All loans are subject to credit approval. | nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/181106