First-Time Home Buyer Checklist

A step-by-step guide to your home buying journey.

Financial Preparation

Establish a comfortable monthly budget

Review your credit reports for accuracy

Build savings for down payment and closing costs

Set aside an emergency fund for home maintenance

Avoid opening new credit accounts or making large purchases

Mortgage Pre-Approval

Gather financial documents (W-2s, tax returns, bank statements, pay stubs)

Speak with a qualified mortgage lender

Discuss loan options and down payment requirements

Obtain a formal pre-approval letter

Home Search

Identify your 'needs' vs. 'preferences'

Determine your target neighborhoods

Begin attending open houses and private showings

Review property disclosures carefully

Take notes and photos during home tours

Offer and Contract

Review recent comparable sales to determine offer price

Submit a competitive purchase offer

Negotiate terms and contingencies

Sign the purchase agreement

Submit the earnest money deposit

Inspection and Appraisal

Schedule a professional home inspection

Review the inspection report thoroughly

Negotiate repairs or credits if necessary

Lender orders the home appraisal

Review appraisal results with your agent

Final Loan Approval

Provide any additional documents requested by underwriting

Secure homeowners insurance

Receive the 'Clear to Close' from your lender

Review the final Closing Disclosure (CD)

Closing Preparation

Schedule the final walk-through

Verify final closing costs and funds needed

Independently verify wire instructions before sending funds

Bring valid government-issued ID to closing

Moving and Homeownership

Transfer utilities to your name

Change your mailing address

Hire movers or rent a moving truck

Change the locks on your new home

Update your driver's license and registration

Ray Guerrero

California Licensed REALTOR®

DRE #02020115

(714) 402-4972

rayguerrero@firstteam.com

rayguerrero.myresourcehub.co

Ray Guerrero

Connect With Ray

Follow me for Orange County real estate updates, new listings, homeowner tips, market insights, and behind-the-scenes content. I'd love to stay connected with you.

(714) 402-4972 rayguerrero@firstteam.com

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California DRE #02020115

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