First-Time Homebuyer Checklist: 12 Steps to Your First Home

Buying your first home is exciting — and overwhelming. This checklist breaks the process into 12 clear steps.

Steps 1–4: Before You Start Shopping

1. 1Check your credit — Pull all 3 reports at AnnualCreditReport.com. Aim for 700+.
2. 2Save for down payment and closing costs — 3–20% down + 2–5% closing costs.
3. 3Calculate your true affordability using the 28/36 rule.
4. 4Get pre-approved — requires income, asset, and credit verification.

Steps 5–8: Finding and Buying Your Home

1. 1Find a buyer's agent — paid by the seller's commission
2. 2Make an offer with an inspection contingency
3. 3Get a home inspection — never skip this $400–$600 step
4. 4Lock your mortgage rate once under contract

Steps 9–12: Closing Your Home

1. 1Respond to lender requests immediately
2. 2Complete final walkthrough 24 hours before closing
3. 3Review your Closing Disclosure 3 days before closing
4. 4Bring cashier's check or wire for closing costs