🏡 First-Time Home Buyer Guide:
    9 Steps to Your First Home
Buying your first home is exciting—but it can feel overwhelming if you don’t know where to start. In this guide, you’ll learn
exactly how to go from “just thinking about it” to “keys in hand,” step-by-step.
Whether you’re in Northern Colorado or anywhere in the U.S., these steps will help you avoid costly mistakes and buy with confidence.
Step 1: Get Your Finances in Shape
- Check your credit score (aim for 620+, but 740+ gets the best rates).
- Pay down debts to improve your debt-to-income ratio.
- Save for your down payment and closing costs.
💡 Pro Tip: Set up a separate “Home Fund” savings account to avoid spending your down payment accidentally.
Step 2: Get Pre-Approved for a Mortgage
A mortgage pre-approval tells you exactly how much home you can afford—and shows sellers you’re a serious buyer.
- Pay stubs
- Tax returns
- Bank statements
đź’ˇ Pro Tip: Ask your lender about first-time home buyer programs with grants or down payment assistance.
Step 3: Find the Right Real Estate Agent
Your agent is your guide, negotiator, and advocate. Choose someone who:
- Specializes in first-time buyers.
- Knows your target neighborhoods.
- Communicates clearly and often.
đź’ˇ Pro Tip: Interview at least two agents to find the right fit.
Step 4: Create Your Must-Have List
Separate your needs from your wants:
- Must-Haves: Location, budget, number of bedrooms.
- Nice-to-Haves: Updated kitchen, extra storage, backyard.
Step 5: Start House Hunting
Tour homes in your price range. Take photos, notes, and keep an open mind—sometimes your dream home surprises you.
đź’ˇ Pro Tip: Visit neighborhoods at different times of day to check traffic, safety, and noise.
Step 6: Make an Offer
Your agent will help you write a competitive offer based on local market trends. Be prepared to negotiate on price, closing date, or repairs.
đź’ˇ Pro Tip: A friendly letter to the seller can sometimes give you an edge.
Step 7: Get a Home Inspection
Hire a licensed inspector to check for hidden problems like roof damage, plumbing issues, or foundation cracks.
Step 8: Finalize Your Loan
Your lender will lock in your rate, order the appraisal, and prepare your final loan documents. Avoid changing jobs or making big purchases before closing.
Step 9: Closing Day
Sign the paperwork, pay your closing costs, and get the keys to your new home.
First-Time Home Buyer FAQ
1. How do I buy my first home?
Start by checking your credit score, saving for a down payment, and getting pre-approved for a mortgage. Then work with a real estate agent, tour homes, make an offer, complete the home inspection, and finalize your loan before closing.
2. How much money do I need to buy a house for the first time?
It depends on the loan program. FHA loans typically require 3.5% down, conventional loans often require 3–5%, and VA/USDA loans may require no down payment at all. Budget 2–5% of the purchase price for closing costs.
3. What credit score do I need to buy a house?
Most lenders require a score of at least 620 for conventional loans, though FHA loans allow scores as low as 580. Higher scores get better interest rates.
4. How long does it take to buy a house?
From offer to closing, most transactions take 30–45 days. Searching for the right home can add weeks or months depending on the market.
5. Should I buy a home or keep renting?
If you plan to stay in the same area for at least 3–5 years and can comfortably afford the payment, buying can be a smart investment. Renting may be better if you need flexibility or are building your credit/savings.
6. What are first-time home buyer programs?
Programs offered by states, cities, and some lenders provide grants, low-interest loans, or down payment assistance to eligible buyers. Ask your lender or agent about Northern Colorado options.
7. Can I buy a home with no money down?
Yes—VA and USDA loans allow zero down payment for qualified buyers. Some assistance programs can also cover upfront costs.
Ready to Buy Your First Home in Northern Colorado?
Hey there, I’m Jeannette Shepherd! I help blue-collar first-time buyers in Northern Colorado find homes they love and negotiate the best deals possible. Let’s make your dream a reality!
