Fist Time Home Buyer Checklist
💰 Before You Start — Financial Prep
- Check and improve your credit score (aim for 620+ minimum, 740+ for best rates)
- Review your debt-to-income ratio
- Save for a down payment (3.5%–20% depending on loan type)
- Build a separate emergency fund (3–6 months of expenses)
- Get pre-approved for a mortgage
- Research loan programs (FHA, VA, Conventional, USDA, CalHFA for CA buyers)
🔍 Home Search
- Define your must-haves vs. nice-to-haves
- Set a realistic budget (purchase price + closing costs + HOA if applicable)
- Research neighborhoods and commute times
- Work with us
- Attend open houses and schedule showings
📝 Making an Offer
- Review comparable sales (comps) with your agent
- Submit a competitive offer with your agent's guidance
- Negotiate terms — price, contingencies, closing date
- Sign the Residential Purchase Agreement (RPA)
🔎 Under Contract — Due Diligence
- Submit your Earnest Money Deposit (EMD) on time ⚠️ Watch out for wire fraud!
- Schedule a general home inspection
- Review all seller disclosures (TDS, SPQ, NHD)
- Review wildfire-related disclosures carefully — especially important in California
- Order additional inspections if needed (roof, pest, sewer, chimney, etc.)
- Get homeowner's insurance quotes immediately — especially if in a high-fire-risk area, as it can affect loan approval
- Review the Preliminary Title Report with your agent
- Monitor your contingency deadlines carefully
🏦 Loan & Appraisal
- Provide all lender-requested documents promptly
- Confirm the appraisal has been ordered
- Avoid major purchases or new credit accounts during this period
- Respond quickly to any lender conditions
🔑 Closing Preparation
- Do a final walkthrough of the property
- Review the Closing Disclosure (CD) for accuracy
- Wire closing funds securely — verify wiring instructions by phone
- Sign closing documents
- Receive your keys! 🎉
📦 After Closing
- Change the locks
- Set up utilities (gas, electric, water, internet)
- Update your address (DMV, USPS, bank, etc.)
- Schedule any immediate repairs or improvements
- Store all closing documents in a safe place
- Consider a home warranty if not already included