The First-Time Buyer Checklist

Get ready 6–12 months out

A little prep now makes everything after it easier.

• Pull your free credit reportsCheck all three bureaus at annualcreditreport.com and dispute anything that isn’t yours.
• Write down your monthly budgetInclude what you spend now, so you can pick a payment that feels comfortable, not just one you qualify for.
• Start a separate savings bucketFor your down payment, closing costs, moving costs and a cushion for after you move in.
• Keep large deposits documentedLenders ask about deposits that aren’t payroll. Keep a note and a paper trail for gifts, sales or transfers.
• Hold off on new creditNew cards, car loans and big financed purchases can change what you qualify for.
• Look into down payment assistanceUse the DPA Lookup on this site to see programs to ask about in your county and city.

Get pre-approved 1–3 months out

• Book a 30-minute call with your loan officerTalk through goals, timeline and anything that worries you.
• Gather your documentsSee the Documents Needed checklist.
• Complete your application and credit review
• Get your pre-approval letterPre-approval can take as little as 24 hours once your documents are in, and it comes with a call and an email walking you through your loan options, down payment and estimated monthly mortgage payment. Updated letters for each offer are delivered within 24 hours.
• Ask about homebuyer educationMany assistance programs require a HUD-approved course. Starting early keeps it from holding up closing.

Shop for your home

• Choose a Realtor you trust
• Make a needs vs. wants listBedrooms, commute, schools, pets, HOA rules, flood zone.
• Get homeowners and flood insurance quotes earlyIn South Florida, insurance can change your monthly budget a lot. Ask an agent before you fall in love with a home.
• Considering a condo? Check the building earlySee the Condo Buyer Checklist and the Condo Hub.
• Send your loan officer the listing before you offerA quick check can catch property or HOA issues early.

Under contract

The busiest stretch. Quick replies keep things on track.

• Deliver your escrow deposit on timeFollow the instructions from your title company or attorney. Verify wiring instructions by phone first.
• Schedule the home inspectionAsk about a wind mitigation report and, for older homes, a 4-point inspection. Both can affect insurance.
• Send requested documents quicklyUnderwriting may ask for updated statements or letters of explanation.
• Bind your homeowners insuranceYour lender needs proof of insurance before closing.
• Keep your finances steadyNo job changes, new credit, large purchases or unexplained deposits without talking to your loan officer first.
• Watch for appraisal and clear-to-close updates

Closing and after

• Review your Closing DisclosureYou should receive it at least 3 business days before closing. Compare it with your Loan Estimate and ask questions.
• Confirm the amount and method for your funds to closeCall the title company at a number you already know to confirm wiring instructions.
• Do the final walk-through
• Bring a valid government-issued photo ID
• After closing, file for Florida homestead exemptionApply with your county property appraiser by March 1 of the year after you buy (you must own and live in the home as of January 1).

Notes