Home Shopping Checklist

A practical homebuying checklist, from setting your budget to your first mortgage payment. Check off each step as you go.

1. Build your plan

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Set a comfortable monthly housing budget.Include principal, interest, property taxes, insurance, HOA dues and mortgage insurance when applicable. Leave room for maintenance and other goals.Plan your cash to close and reserves.Separate down payment, closing costs, moving expenses and an emergency cushion. Do not assume an assistance program is available until confirmed.Review your credit and existing debts.Check reports for errors and discuss any large purchases, new accounts or debt changes with your mortgage advisor.Choose your location and timeline.Consider commute, property type, occupancy plans, lease dates and how long you expect to own the home.Compare financing paths.Review conventional, FHA, VA, USDA, jumbo and assistance options that may fit. A program description is not an eligibility determination.

2. Prepare for preapproval

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Gather the income documents your lender requests.Examples include pay stubs, W-2s, tax returns, business records or benefit statements. Requirements depend on how you earn income.Gather asset and down payment records.Document funds and explain transfers or deposits as requested. Ask about gift requirements before moving gift funds.Use a verified secure application and upload channel.Keep Social Security numbers, account numbers and financial documents out of email, website notes and this checklist.Review the preapproval terms and conditions.Confirm the price range, loan structure, expiration and outstanding conditions. Preapproval is not final approval.Coordinate with your real estate agent.Share the financing timeline and offer requirements. Discuss local taxes, insurance availability and property-specific concerns early.

3. Make an informed offer

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Compare written Loan Estimates.Where available, compare the same loan amount, term, lock period and date. Review points, lender credits, fees, payment and cash to close.Review offer terms and deadlines.Understand earnest money, financing and appraisal contingencies, inspection dates and the closing schedule with your agent.Arrange inspections and review findings.An appraisal is not a home inspection. Discuss repairs, specialist reviews and any safety or insurability concerns.Obtain an actual insurance quote.Confirm availability, deductibles, coverage and premium for this property. Ask about flood or other additional coverage if relevant.Review the property and association documents.Understand HOA dues, assessments, title items, taxes and any required property or condominium review.

4. Move through underwriting

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Respond to lender requests promptly.Send requested information through the secure channel. Keep copies and ask why an unfamiliar item is needed.Keep finances stable and report changes.Tell your lender about employment changes, new credit, large purchases or unusual deposits before taking action.Understand your rate lock.Confirm whether it is locked, the expiration, any extension cost and what happens if closing changes.Review appraisal and remaining conditions.Ask about the result and any value or repair issues. Confirm what remains before final approval.Confirm final funds and delivery instructions.Independently call a trusted, previously verified number to confirm wire instructions. Never rely on emailed changes alone.

5. Close and settle in

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Review the Closing Disclosure in time.For most closed-end mortgages, you must receive it at least three business days before closing. Compare it with your Loan Estimate and resolve unexpected changes.Complete your final walkthrough.Check agreed repairs and property condition with your agent. Confirm utilities and possession arrangements.Understand the documents before signing.Ask about anything unclear, confirm the payment and cash to close, and retain signed copies.Confirm funding, recording and possession.Signing does not always mean the loan has funded or the keys can be released. Follow the instructions from your closing team.Set up your first payment and ongoing records.Verify the servicer and due date, keep the Closing Disclosure, monitor tax and insurance payments, and maintain your home budget.

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