First-Time Homebuyer Checklist: Step by Step
Buying your first home feels huge. It gets a lot smaller when you break it into steps. Print this. Check each box. Don't skip ahead.
Step 1: Get ready (2 to 6 months before)
- ☐ Pull your credit reports. They are free every week at AnnualCreditReport.com. Fix any mistakes.
- ☐ Pay down credit cards. Lower balances can raise your score. Here's how.
- ☐ Set your budget. Some people keep their housing payment near 28% of their pay before taxes. That is a budgeting habit, not a lender rule. Fannie Mae’s selling guide sets no housing ratio at all, and lenders look at all your debts together. Check what you can afford.
- ☐ Save for more than the down payment. You also need closing costs and a cushion for repairs.
- ☐ Look for down payment help. See how it works.
Step 2: Shop (the fun part)
- ☐ Get pre-approved. Sellers take you seriously, and you know your real number. Start here.
- ☐ Pick a local agent. You will sign a written buyer agreement before touring. It says what your agent is paid and who pays it. Read it, and ask questions. The fee is negotiable.
- ☐ Write your must-haves and nice-to-haves. Keep the must-have list short.
- ☐ Tour homes and make an offer. Your agent pulls recent sales so you don't overpay.
Step 3: Under contract (about 30 to 45 days)
- ☐ Home inspection. Hire an inspector. Use the report to ask for repairs or a credit.
- ☐ Apply and lock your rate. You get a Loan Estimate within three business days.
- ☐ Appraisal. The lender checks the home's value.
- ☐ Homeowners insurance. Shop it. Your lender needs proof before closing.
- ☐ Don't open new credit or change jobs without calling your loan officer first.
- ☐ Read your Closing Disclosure. You get it at least three business days before closing. Compare it to your Loan Estimate.
Step 4: Close
- ☐ Final walk-through. Make sure repairs are done and nothing is broken.
- ☐ Wire money safely. Call your title company at a number you know is real before you send a wire. Scammers fake closing emails.
- ☐ Sign and get your keys.
Quick answers
How much should I save before buying?
Plan for your down payment, then closing costs on top of it — the CFPB puts a buyer's at about 2% to 5% of the price — plus moving costs and a cushion for repairs. See closing costs.
Do I need a buyer agreement?
If you want an agent to tour homes with you, you will usually sign one first. Buyer agreements explained.
How long does buying a home take?
Often a few months from pre-approval to keys, with about 30 to 45 days under contract. See the full timeline and what earnest money is.
Read the full home buying guide · Talk to a local agent
Where you buy changes this
One step people miss: the tax break you have to apply for yourself, on a deadline that is different in every state.
- Florida — file for homestead with the county property appraiser by March 1.
- Texas — file Form 50-114 with the appraisal district before May 1, and there is no fee.
- Georgia — most counties use an April 1 deadline.
- South Carolina — apply for the 4% owner-occupied rate by January 15 or you are taxed at 6%.
- Idaho — the homeowner's exemption is not automatic and is filed with the county assessor.
- Oklahoma — file by March 15, and your tax cap resets the year you buy.
We keep a page for every state we work in, with a cost table, a step-by-step timeline and the rules that actually trip people up. See all AXEN locations.
Sources and further reading
Updated September 18, 2026. We check these sources each time we update this guide. See our editorial policy.
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