Guide
First-time homebuyer mortgage checklist
Buying your first home has a lot of moving parts. This checklist keeps the mortgage side in order, from pre-approval to the closing table.
1. Get pre-approved
Before you shop, get a mortgage pre-approval so you know your budget and sellers take you seriously. Compare offers from a few lenders using the standardized Loan Estimate. Pre-approval is not final approval, but it sets the range.
2. Vet your loan officer
You will work closely with one person: the loan officer. Get their NMLS number and confirm the license is active and the company matches your paperwork. This takes about a minute and protects your largest purchase. You can look them up by name or NMLS number on KeysAhead.
3. From house hunting to offer
When you find the home, your agent helps you make an offer. Once it is accepted, you put down earnest money and formally apply for the mortgage. Keep your finances steady from here: avoid new debt or big purchases that could affect approval.
4. Before you close
Read the Closing Disclosure when it arrives, at least three business days before closing, and compare it to your Loan Estimate. Confirm wiring instructions by phone using a number you looked up yourself. Know who is at the table: loan officer, title company, and the notary handling the signing.
Frequently asked questions
What credit score do I need?
It varies by loan program. Many conventional loans look for mid-600s and up, and some government-backed programs go lower. Your loan officer can tell you what fits your situation.
How much down payment?
Less than you might think. Some programs allow 3 to 5 percent down, and certain government-backed loans require little or none. More down usually means a lower monthly payment.
What is the first thing to do?
Get pre-approved, then vet your loan officer's NMLS license before you go further. Knowing your budget and trusting the person guiding you sets up everything else.
Homebuyer due diligence
Check the people handling your closing.
Search any U.S. mortgage loan officer by name, company, city, or NMLS number. Free, no login.
Look up a licenseA one-minute check before the biggest signature stack of your life.