First-Time Home Buyer Checklist: 10 Steps From Savings to Keys
First-time buyers made up just 21% of US home purchases in the National Association of Realtors' 2025 Profile of Home Buyers and Sellers, a record low, and the typical first-time buyer was 40 years old. When you finally buy, it helps to know the whole path before you start.
The 10 steps
- Set your budget. Look at the monthly payment you're comfortable with, not just the price a lender approves. See how much house you can afford.
- Check your credit. Get free reports at AnnualCreditReport.com and fix errors early.
- Save for cash to close. That means the down payment, closing costs, moving and a cushion. Ask about first-time buyer and down payment assistance programs in your state.
- Get pre-approved. Gather the documents lenders ask for and talk to at least two or three lenders.
- Compare Loan Estimates. Use the standard form to compare offers line by line (how to compare Loan Estimates).
- Find an agent and start touring. Use a house hunting checklist and score each home.
- Make an offer. Price, contingencies (inspection, financing, appraisal), earnest money and the closing date.
- Inspect and negotiate. Hire an inspector (home inspection checklist) and decide on repair requests or credits.
- Get ready to close. Lock your rate, buy homeowners insurance, review your Closing Disclosure and verify wiring instructions by phone (wire fraud warning).
- Close and move in. Do the final walkthrough, sign, get the keys, and work through the first month as a homeowner.
Keep a deadline list
Once you're under contract, deadlines come quickly: inspection period, appraisal, financing, closing. Write each one down with a date.
Don't change your finances during the process
Avoid new credit cards, car loans, job changes or large unexplained deposits until after closing, if you can. Ask your lender first.
General information, not legal, financial or real estate advice. Rules vary by state.
The First-Time Home Buyer Binder follows these 10 steps, with a worksheet for each one and a deadline tracker.
First-Time Home Buyer Binder — $17
18-page binder from pre-approval to closing: affordability worksheet, Loan Estimate comparison, showing scorecard, inspection, wire-fraud check and closing day. Instant download: PDF + DOCX + XLSX.
Get the First-Time Home Buyer BinderAll 10 kits — $59More guides
- How Much House Can I Afford? A Worksheet for First-Time Buyers
- Mortgage Pre-Approval Documents Checklist
- How To Compare Loan Estimates (Line by Line)
- House Hunting Checklist: What To Check at Every Showing
- Home Inspection Checklist for Buyers: What To Ask and Look For
- Closing Disclosure Checklist: What To Check Before Closing
- Real Estate Wire Fraud: How To Protect Your Down Payment
- Final Walkthrough and Closing Day Checklist for Buyers
- First Month as a Homeowner: The New Owner Checklist