First Time Homebuyer Checklist

1. Make Sure You Are Ready

• You have stable employment
• You are at a point in your life where you can see yourself in the same City/Town/Area for years
• You understand the maintenance responsibilities of homeownership

2. Create Home Wish List

• Determine what your “Must Haves” and “Nice to Haves” are
• Determine what type of home you are interested in (condo? house? style?)
• Determine what different areas you’d be willing to live in

3. Determine How Much You Can Afford to Spend

• Reach out to reliable mortgage loan officer and see how much a bank will lend you for the purchase of your new home
• Determine how much your costs would be in addition to your mortgage and interest (insurance? taxes?)
• Determine what you should have for a new emergency fund

4. Gather Necessary Documents

• Collect the documents needed to apply for a loan: paystubs, past tax filings, bank statements

5. Obtain A Mortgage Preapproval

• After having discussions about your options, obtain a loan preapproval from a mortgage lender

6. Assemble Your Team

• Find a real estate agent that listens to your goals, communicates well and who you can trust!
• Determine if this agent has trusted options for inspectors, loan officers, and attorneys.