Buying your first home is an exciting, rewarding, and sometimes confusing process. Fortunately, your REALTOR® can help you throughout your search—from finding the right home to negotiating a contract.

First-time home buyer programs

Lenders and other organizations also offer services to help first-time home buyers. These range from workshops covering home maintenance to special loans for buyers who meet certain criteria.

Setting a price range

Income, debt and credit scores help lenders determine what a potential buyer can take out as a loan. Before starting your search, consider:

• how much you can afford
• what your down payment will be
• settlement charges at closing
• yearly taxes and maintenance for a home

While the mortgage payment is the main expense associated with owning a home, yearly taxes and maintenance are also significant—and can vary depending on the home's location, condition and age.

First-time Home Buyer Checklist

1. Talk with your agent
2. Set a price range
3. Get pre-approved for a loan
4. Search for homes
5. Visit open houses
6. Negotiate a contract
7. Order title insurance
8. Hire a home inspector
9. Order an appraisal
10. Complete closing/settlement