Buying your first home is a lot easier when you break it into steps. This plan assumes about a year, and you can compress it if you are ready sooner. Each step is small. Check them off, and print the page if you like.
Months 12 to 10: know where you stand
- Get your free credit reports. You can see them at AnnualCreditReport.com, the official site, and the CFPB explains credit reports and scores. Fix any errors by disputing them with the credit bureau.
- Look at your monthly budget and how much you can comfortably spend on housing. The affordability calculator and income needed by ZIP code help.
- Open a savings goal for the down payment and closing costs. The down payment savings planner shows how long it could take.
Months 9 to 7: build your base
- Pay every bill on time and keep credit card balances low.
- Hold off on new credit, such as a car loan or new cards, before you apply for a mortgage.
- Learn about help for first-time buyers: our guide to down payment assistance.
- Start a "wish list" and a "must-have list" for the home and the area.
Months 6 to 4: talk to a lender and choose an area
- Talk to at least two lenders and compare them with our questions to ask a lender. Ask for a pre-approval when you are close.
- Explore neighborhoods with the Neighborhood Match quiz, the Commute Check and the ZIP code market reports.
- Start touring homes and open houses with Rudy, even if you are not ready, so you learn what your budget buys.
Months 3 to 1: shop and make an offer
- Get your pre-approval letter and keep your documents handy: recent pay stubs, tax returns, bank statements and ID.
- Check any home you like with the listing price check and ask Rudy for recent comparable sales.
- Make an offer, then schedule the inspection (what to expect on inspection day) and the appraisal.
After you close
- Keep a repair fund, and use the home maintenance planner.
- Update your address and set up utilities: moving-in checklist.
Talk to a lender. Rates, loan programs and approvals come from lenders, not from websites or real estate agents. Talk to your own mortgage broker, or use our preferred lender, Point Mortgage Corporation (NMLS #231073), at (619) 475-4095. You are always free to choose any lender you like, and you can verify any lender’s license at nmlsconsumeraccess.org.
General information, not legal, tax or lending advice. Rules, schedules and programs change, so confirm current details with the official source.
More guides
- Credit Scores for Home Buyers: The Basics and How to Improve Yours — What goes into a credit score, what lenders look at, and simple steps to put yours in better shape before you apply.
- Inspection Day: What to Expect, What to Ask and What to Do Next — A first-time buyer's guide to the home inspection: how to prepare, the questions to ask, and how to use the report.
- The Best Time to Buy or Sell in San Diego, Month by Month — Charts and numbers show which months San Diego homes sell most, when prices peak and when buyers have the most room to negotiate.
- Printable Neighborhood Sheets by ZIP Code — A one-page, printable snapshot of any San Diego County ZIP code: typical values, rent, days to sell, income and the age of homes.