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First-time buyer · 7 min read
The first-time home buyer financial checklist
A calm, practical checklist for savings, credit, payment, closing costs, and reserves before you start touring.
Build the cash picture first
Separate your down payment from estimated closing costs, moving costs, and a reserve that remains after closing. A lower down payment can keep cash available, but may add PMI and a larger loan payment.
Use a comfortable payment
Start from a payment that fits your life, not just a lender maximum. Include property taxes, insurance, HOA dues, maintenance, and the monthly debts you already carry.
Compare official disclosures
When you begin talking to lenders, compare Loan Estimates side-by-side. Rate, APR, points, closing costs, and cash to close all matter.