To – Do List for First-Time Buyers

1. Save

• Down payment
• Closing Costs
• Escrow for insurance and taxes

2. Improve Credit Score

• Stay current on bills
• No major purchases
• Don’t cancel any credit cards
• Higher credit score = lower interest rate

3. Calculate What We Can Afford

4. Get Mortage Preapproval

• Shop for the best deal
• Choose primary and back up lenders
• Mortgage advice

hud.gove/buying/booklet.pdf

Lower-Interest Mortgages
hud.gove
benefits.va.gov
rd.usda.gov
floridahousing.org

5. Decide What We Want In a Home

• Checklist – hud.gove/buying/wishlist.pdf

6. Choose a Realtor

7. Visit Homes

• Take photos, make notes
• Home shopping checklist – hud.gov/buying/checklists.pdf

8. Narrow Choices

• Visit neighborhood during day and at night to guage traffic, noice, etc.
• Test commute
• Consider resale value

9. Make an Offer

Common contingency opt-outs:

• If home appraises for less than mortgage
• If inspection reveals flaws owners won’t fix
• If you lose your job before the deal closes

10. Schedule Home Inspection

11.Make Final Walk-Through

• Test light switches, sockets
• Check that windows and doors work
• Test faucets, drains, toilets

12. Close and MOVE IN!