First-Time Home Buyer Checklist
Every step from pre-approval to closing — nothing missed.
First-time buyers ask the same questions in the same order — and miss the same line items at closing. This checklist walks through every step from picking a lender to handing you the keys, with the questions to ask, the documents to gather, and the line items most buyers forget.
Before you shop (weeks 0–2)
- Pull your credit report from all three bureaus.Dispute any errors before applying for a mortgage.
- Calculate your monthly budget honestly.Include taxes, insurance, HOA, and PMI — not just principal & interest.
- Save 3–6% of purchase price for cash to close.Down payment + closing costs + escrow + moving.
- Get pre-approved with 2 lenders.Compare rates, fees, and lender credits — not just the rate quoted.
- Decide non-negotiables vs. nice-to-haves.Schools, commute, square footage, yard, layout.
Shopping (weeks 2–8)
- Interview 2–3 buyer's agents.Ask how they handle multiple-offer situations and inspection negotiations.
- Tour homes in person, not just online.Photos hide noise, smell, slope, and natural light.
- Check property taxes, HOA dues, and insurance for each home.These vary widely — a 'cheaper' home can cost more monthly.
- Ask your agent for a True Payment estimate on each finalist.PITI + HOA + PMI in one number is what you'll actually pay.
- Drive the neighborhood at night and on weekends.Traffic, parking, noise, and lighting change after dark.
Offer & under contract (weeks 6–10)
- Write a competitive — not desperate — offer.Your agent should know recent area sale-to-list ratios.
- Confirm earnest money deposit and timeline.Typically 1–3% of price, due within 1–3 days of acceptance.
- Schedule home inspection within 7–10 days.Hire your own inspector — don't accept the seller's.
- Order appraisal through your lender.Required for financing; expect 1–2 weeks.
- Review HOA documents and CC&Rs if applicable.Rules, fees, special assessments, reserves.
- Negotiate inspection items in writing.Repairs, credits, or price reduction — get it on an addendum.
Closing (final 2 weeks)
- Lock your interest rate.Confirm lock period covers your closing date plus a buffer.
- Avoid major financial changes.No new credit cards, cars, job changes, or large deposits.
- Review Closing Disclosure 3 days before closing.Compare to Loan Estimate — flag any unexpected line items.
- Schedule final walkthrough 24–48 hours before closing.Confirm repairs done and property in agreed condition.
- Bring certified funds or wire payment.Confirm wiring instructions by phone — wire fraud is common.
- Set up utilities and change address.Power, water, internet, USPS, insurance, banks.
Frequently asked questions
Plan for 3–6% of purchase price in cash beyond your down payment: closing costs, escrow, inspection, appraisal, and moving. A $400K home with 5% down typically needs $32–44K total cash at close.
Pre-approval is stronger — it means a lender reviewed your credit, income, and assets. Sellers take pre-approval seriously; pre-qualification is just a conversation.
From pre-approval to keys typically runs 60–90 days. Shopping can be faster or slower depending on inventory; under-contract to close is usually 30–45 days.