First-Time Home Buyer Checklist

1. Review your financial position.
   List income, recurring debts, savings and expected near-term expenses.
2. Estimate an affordable housing range.
   Use affordability estimates as a planning starting point rather than a guaranteed approval amount.
3. Plan for the down payment.
   Compare possible down-payment amounts while preserving room for other purchase and ownership costs.
4. Estimate closing and moving costs.
   Budget beyond the purchase price and down payment.
5. Review your credit information.
   Check for errors and understand how your credit profile may affect available borrowing options.
6. Compare mortgage options.
   Look beyond the monthly payment and compare rates, terms, fees and loan structure.
7. Prepare documentation.
   Lenders may request income, asset, employment and debt documentation depending on the application.
8. Shop for the home with the full budget in mind.
   Consider taxes, insurance, maintenance, utilities and association fees where applicable.
9. Review inspections and property information.
   Understand the condition and potential costs associated with the property.
10. Review final documents carefully before closing.
    Confirm the loan terms, cash needed and transaction details before signing.

Helpful calculators

This checklist is a general educational resource. Home-buying requirements and processes vary by location, lender, property and borrower circumstances.