First-Time Home Buyer Checklist

Your First-Time Home Buying Journey

Buying your first home is exciting but can be overwhelming. This checklist will guide you through each step.

Before You Start Looking

• Check your credit score (aim for 620+ for conventional loans)
• Review your credit report for errors
• Calculate how much you can afford
• Save for down payment (3.5% - 20%)
• Save for closing costs (2-5% of home price)
• Build an emergency fund (3-6 months expenses)
• Reduce existing debts

Getting Pre-Approved

• Gather financial documents (tax returns, pay stubs, bank statements)
• Contact 3-5 lenders for quotes
• Compare interest rates and fees
• Get pre-approval letter
• Understand your budget limits

House Hunting

• Find a buyer's agent
• Make a list of must-haves vs nice-to-haves
• Research neighborhoods
• Attend open houses
• Schedule private showings
• Take notes and photos
• Don't rush - take your time

Making an Offer

• Research comparable home sales
• Determine your offer price
• Include contingencies (inspection, appraisal, financing)
• Submit earnest money deposit
• Be prepared to negotiate

After Offer Acceptance

• Schedule home inspection
• Review inspection report carefully
• Negotiate repairs if needed
• Order appraisal
• Finalize mortgage application
• Purchase homeowners insurance
• Do final walk-through

Closing Day

• Review closing disclosure
• Bring government ID
• Bring certified funds for closing costs
• Sign all documents
• Get your keys!

First-Time Buyer Programs

Many states and lenders offer special programs for first-time buyers:

• FHA loans with 3.5% down
• State down payment assistance
• First-time buyer grants
• Conventional 97 loans (3% down)
• Good Neighbor Next Door program

After Moving In

• Change locks
• Set up utilities
• Update your address
• Create home maintenance schedule
• Keep all purchase documents
• Budget for repairs and maintenance