Home Buying Process Checklist
A step-by-step timeline to keep you organized from pre-approval to closing
Buying a home involves many steps and can sometimes feel overwhelming. This interactive checklist will help you stay organized and confident throughout the entire process.
Phase 1: Pre-Purchase Planning
Check your credit score
Review your credit report for errors and understand how your score will impact your loan options and interest rates.
Pro Tip:
Request free credit reports from all three major bureaus at AnnualCreditReport.com. Aim for a score of 740+ for the best rates.
Determine your budget
Calculate how much house you can afford based on your income, expenses, and savings. Consider the total cost of homeownership beyond just the mortgage payment.
Pro Tip:
A common guideline is to spend no more than 28% of your gross monthly income on housing expenses and no more than 36% on total debt.
Save for a down payment
Start saving for your down payment, closing costs, and moving expenses. Explore down payment assistance programs if you qualify.
Pro Tip:
Set up automatic transfers to a dedicated savings account. For more information on assistance programs, see our Down Payment Assistance Guide.
Phase 2: Getting Ready to Shop
Get pre-approved for a mortgage
Work with a lender to get a pre-approval letter, which will strengthen your offer when you find a home.
Pro Tip:
Shop around with multiple lenders to compare rates and terms. Learn more about the pre-approval process in our Mortgage Pre-Approval Guide.
Find a real estate agent
Interview and select a buyer's agent who understands your needs and has experience in your target neighborhoods.
Pro Tip:
Ask for referrals from friends, family, or your mortgage advisor. Look for agents with good reviews and strong knowledge of your desired areas.
Make your wishlist
Create a list of must-haves and nice-to-haves for your new home, including location, size, amenities, and features.
Pro Tip:
Distinguish between non-negotiable features and those you're willing to compromise on. Consider commute times, school districts, and future needs.
Phase 3: House Hunting & Offer Process
Tour homes
View homes that match your criteria, taking notes and photos to help you remember each property.
Pro Tip:
Create a consistent rating system for each home you view. Consider visiting during different times of day to check for noise, traffic, and sunlight.
Make an offer
Work with your agent to prepare and submit a competitive offer on your chosen home, including price, contingencies, and proposed closing timeline.
Pro Tip:
Consider including a personal letter to the seller explaining why you love their home (where allowed by law). Discuss with your agent what contingencies are appropriate for current market conditions.
Negotiate and reach agreement
Respond to counteroffers and negotiate terms until you reach a mutually acceptable agreement with the seller.
Pro Tip:
Stay flexible but know your limits. Consider the total package beyond just price—closing costs, repairs, and included items can all be negotiation points.
Phase 4: Under Contract to Closing
Submit mortgage application
Complete the full mortgage application with your lender and provide all required documentation.
Pro Tip:
Respond quickly to all lender requests for additional documentation. Avoid making major purchases or opening new credit accounts during this time.
Schedule inspections
Arrange for a home inspection and any specialized inspections (roof, foundation, etc.) recommended by your inspector or agent.
Pro Tip:
Attend the inspection in person if possible. Ask questions and take notes. Use the findings to negotiate repairs or credits if significant issues are discovered.
Review closing disclosure
Carefully review the closing disclosure from your lender, which outlines the final loan terms and closing costs.
Pro Tip:
Compare the closing disclosure to your loan estimate to check for unexpected changes. Learn more in our Understanding Closing Costs guide.
Final walkthrough
Conduct a final walkthrough of the property shortly before closing to verify its condition.
Pro Tip:
Check that all agreed-upon repairs have been completed, all systems are working, and no damage has occurred since the inspection.
Closing day
Sign the final paperwork, pay closing costs, and receive the keys to your new home.
Pro Tip:
Bring a government-issued photo ID and proof of funds for closing costs. Be prepared for the signing process to take 1-2 hours.
Phase 5: After Closing
Change locks and security codes
For safety, replace or rekey all exterior locks and update any security codes.
Update address and transfer utilities
Change your address with USPS, update accounts, and transfer utilities to your name.
File for homestead exemption
In Texas, file for your homestead exemption by April 30th of the year after you purchase to reduce property taxes.
Need Help with Your Home Buying Journey?
Our experienced mortgage advisors at Raider Mortgage are here to guide you through every step of the process. We can help you get pre-approved, understand your loan options, and answer any questions you have along the way.