First-Time Home Buyer’s Guide

Everything you need to know before buying your first home — from preparing your finances to getting the keys.

Download Our Printable Guide

1.) Is Now The Right Time To Buy?

  • Your Finances

    Do you have steady income, savings for a down payment, and room in your budget for homeownership costs?

  • Guidance you can trust.

    Your Credit

    A stronger credit score can help you qualify for better rates and more loan options.

  • Explore homes that fit your needs and price range.

    Your Lifestyle

    Is homeownership aligned with your current lifestyle and long-term goals?

  • Plan your homebuying timeline.

    Your Timeline

    How long do you plan to stay in the home? The right timing can save you money.

2.) The Biggest Mistakes First-Time Buyers Make.

  • Shopping Before Getting Pre-approved

    Know your budget before you fall in love with a home.

  • Understand costs, savings, and financing options.

    Forgetting About Closing Costs

    Closing costs can add up to 2-5% of the purchase price.

  • Skipping The Inspection

    An inspection protects you from costly suprises.

  • Falling In Love With The Wrong Home

    It’s important to choose a home that fits your needs and your budget.

  • Maxing Out The Budget

    Leave room in your budget for life’s unexpected expenses.

We're Here To Help

3.) Home Buying Terms You’ll Hear

  • Escrow

    A neutral third party that holds funds and documents during the transaction.

  • Contingency

    Conditions that must be met for the sale to move forward.

  • Earnest Money

    Good faith money deposited to show you’re serious about buying the home.

  • PMI

    Private Mortgage Insurance required if you down payment is less than 20%.

  • Appraisal

    An estimate of the home’s value completed by a licensed appraiser.

  • Closing Costs

    Fees paid at closing for services like lender fees, title insurance, taxes, and more.

  • Inspection

    A professional examination of the homes condition.

  • Title Insurance

    Protects you and your lender from issues with the property’s title.

4.) How Much Money Do You Really Need?

  • Down Payment

    Typically 3-20% of the purchase price.

  • Closing Costs

    Usually 2-5% of the loan amount.

  • Earnest Money

    A deposit showing good faith, applied toward your purchase.

  • Inspection Fee

    Typically $300-$600 depending on the home size.

  • Moving Expenses

    Don’t forget the cost of moving and setting up your new home.

  • Emergency Fund

    Save 3-6 months of expenses to handle unexpected repairs.

View Closing Cost Guide

5.) First-Times Buyer’s Checklist

  • Check your credit

  • Get pre-approved

  • Make an offer

  • Final walkthrough

  • Save for a down payment

  • Meet with an agent

  • Schedule an inspection

  • Close on your new home

  • Build your budget

  • Tour homes

  • Review documents

Mortgage Payment Calculator

Estimate your potential monthly mortgage payment based on the home price, down payment, loan term, and interest rate.

  • Explore different home prices

  • Compare down-payment amounts

  • Adjust the interest rate and loan term

  • View estimated monthly payment

Calculate My Payment

Home Affordability Calulator

Get a general estimate of hw much home may fit within your budget based on your income, monthly obligations, and available down payment.

  • Enter household income

  • Consider recurring monthly debts

  • Add your planned down payment

  • Explore an estimated home-price range

Estimate My Buying Power

You don’t have to do it alone.

Buying your first home doesn’t have to feel overwhelming. HomeRoots Group is here to answer your questions and guide you through every step.

Explore tools and guides on our Resource Page designed to make your first home purchase easier and less stressful.