easy to follow first time homebuyer checklist

Easy-to-Follow First-Time Homebuyer Checklist

You can travel the world, but at the end of the day, there’s nothing quite like home. This is especially true when it’s your name on the deed! Buying a home is an exciting time, and it’s a true accomplishment that you should be proud of. As you prepare yourself for the steps involved, here is an easy-to-follow homebuyer checklist that will make the purchasing process a breeze.

Step one: Figure out your finances

The first thing you should do as a prospective homebuyer is button up your budget. This will ensure you’re shopping for a home you can afford, and it’ll help to speed up the buying process. You’ll also want to check your credit score during this step.

Next, it’s time to get pre-approved for a mortgage. This is a critical step in the homebuying journey because it alerts you to how much of a loan you will qualify for, saving you valuable time and emotions. This helps you to shop smarter and gives you an edge over other buyers who aren’t pre-approved. Talk to your First Centennial Mortgage Loan Officer about available programs that could help you finance.

Here is the order of events for your finance homework:

  • Create a budget and understand how much home you can afford.
  • Check your credit score.
  • Get pre-approved for a mortgage.
  • Talk to your First Centennial Mortgage Loan Officer about available programs such as FHA, VA or USDA loans.

Step two: Shop smart

This second step on your homebuyer checklist is probably the one you’ve been waiting for: It’s time to shop for a home! This part is going to be even more exciting because you’ve already done the hard work of figuring out your finances and getting pre-approved.

Once you’ve found a home you love and you’ve made an offer, your real estate agent will help you negotiate until you arrive at an agreed upon price. Next, it’s important to have the home inspected. This is your chance as a buyer to ensure that the house is up to code and there are no hidden issues before you purchase.

Here is the order of events when in the shopping phase:

  • Shop for your home with a real estate agent.
  • Make your offer and negotiate until you arrive at an agreed upon price.
  • Get a home inspection.

Step three: Get ready to close

In this third and final step of your homebuyer checklist, you are finally in the home stretch (no pun intended)! It’s time to sit down with your First Centennial Mortgage Loan Officer again to fill out all the necessary financial paperwork. Once this is complete, your loan will receive final approval and your down payment will be ready for the sellers. That leaves one more task to do: Attend your closing.

At this point, you’ll sit down with your real estate agent, the sellers and their real estate agent. Both parties will sign the remaining paperwork, transferring ownership of the home to you. At the end of this meeting, you’ll walk away with your new keys in hand!

Here are the two tasks to complete this final step of your homebuyer checklist:

  • Fill out the financial paperwork to get your down payment ready.
  • Attend your closing.

Get help with your homebuyer checklist

These steps are comprehensive, but you’ll want an expert partner to help you through this process. The mortgage loan officers at First Centennial Mortgage understand that each homebuyer’s situation is unique. Contact us today to learn how we can guide you through this exciting time in your life.

Related Posts

Skip to content