First-Time Buyer Roadmap

01The 10 steps

1. 1Get clear on your monthly numberDecide the payment you're comfortable with, not just the max a lender approves.
2. 2Get pre-approvedA lender verifies income, credit and assets. Sellers take pre-approved buyers seriously.
3. 3Pick your must-havesBeds, commute, yard, schools you'd like to be near. Split them into must-have and nice-to-have.
4. 4Tour homes with your agentLook at a few that stretch your list, too. You learn fast what matters.
5. 5Write a strong offerPrice, earnest money, timeline and contingencies all matter, not just price.
6. 6Inspection periodIn Arizona the standard purchase contract gives buyers an inspection period (commonly 10 days) to inspect and ask for repairs.
7. 7AppraisalThe lender's appraiser confirms value. Your agent helps if it comes in low.
8. 8Final loan approvalDon't open new credit or change jobs until closing.
9. 9Final walkthroughConfirm repairs were made and the home is in the agreed condition.
10. 10Close and get keysSign, fund, record. Then it's yours.

02Budget beyond the down payment

• Closing costs: often a few percent of the price, depending on loan and lender
• Inspections: general home, plus pool, roof or sewer scope when it makes sense
• HOA fees and transfer costs: if the home is in an HOA
• Moving and setup: utilities, movers, a few first-week fixes

03Questions to ask every lender