An Overview
Buying your first home is exciting — and a little overwhelming. This checklist walks you through the major milestones, from getting your finances ready to receiving your keys, so nothing falls through the cracks. Use it as a roadmap, and lean on your loan officer for guidance at each step.
Before You Start Shopping
A successful home purchase starts well before the first showing. Strengthening your credit, setting a realistic budget, and having your funds in place can put you in a stronger position from the start. Getting pre-approved and prepared early not only makes the financing process smoother, it can also help you shop with confidence and make a stronger offer when you find the right home.
- Pull your credit report and dispute any errors
- Avoid opening new credit accounts or taking on new debt before closing
- Set a monthly budget that includes taxes, insurance, and maintenance — not just principal and interest
- Save for your down payment plus 2–5% of the loan amount for closing costs
- Ask your loan officer about first-time buyer and down payment assistance programs
Get Pre-Approved
Pre-approval is a lender's written estimate of how much you can borrow, based on a review of your income, assets, and credit. It is stronger than pre-qualification and signals to sellers that you are a serious, ready buyer. Your pre-approval letter typically accompanies your offer and helps you shop within a clear budget.
- Complete a loan application and submit documents (income, assets, ID)
- Receive a pre-approval letter stating your approved amount and rate range
- Use the pre-approval to set your shopping price range
- Keep the letter current — update it if your financial situation changes
Shopping & Making an Offer
Work with a real estate agent who understands your market and your budget. When you find the right home, your agent will help you structure a competitive offer — price, contingencies, earnest money, and timeline all matter. Once your offer is accepted, the loan process formally begins.
- Tour homes within your pre-approved range
- Make a competitive offer with appropriate contingencies
- Deposit earnest money into escrow once accepted
- Notify your loan officer immediately so the loan process can begin
Underwriting to Closing Day
After your offer is accepted, underwriting verifies your file and the lender orders an appraisal. This stage typically takes a few weeks. Respond quickly to any requests for additional documents — delays here can push your closing date. Once you are clear to close, you will receive your Closing Disclosure and schedule the final signing.
- Lock your interest rate with your loan officer
- Respond to underwriting requests within 24 hours
- Review your Closing Disclosure at least 3 days before closing
- Bring a photo ID and arrange your cash-to-close via wire or cashier's check
- Sign, fund, and receive your keys
