1 to 2 weeks
Check your finances and credit
Before you look at a single house, know your credit score, your debts and how much you can comfortably pay each month.
How to buy a house, step by step
All steps
A few hours
Set a realistic budget
Decide what you can comfortably pay each month, including taxes, insurance and upkeep, not just the most a lender will …
Months to years
Save for the down payment and closing costs
You need cash for the down payment, closing costs, moving and a cushion for after you move in.
1 to 7 days
Get preapproved for a mortgage
A preapproval is a lender’s written estimate of how much they will lend, based on your documents and credit. Sellers ex…
1 to 2 weeks
Choose a buyer’s agent
A buyer’s agent helps you find homes, make offers and negotiate. Since August 2024 you sign a written agreement with yo…
Weeks to months
House hunt with a plan
Make a list of needs and nice-to-haves, view homes with a scorecard, and look past the staging.
1 to 3 days
Make an offer
Your offer sets the price, the deposit, the contingencies and the timeline. Your agent writes it; you decide what goes …
1 to 3 days
Pay earnest money and open escrow
Once your offer is accepted, you pay the earnest money deposit into escrow and the clock starts on your contingencies.
About a week
Get a home inspection
A licensed inspector checks the structure, roof, plumbing, electrical and heating and cooling. Go along if you can.
2 to 4 weeks
Appraisal and final loan approval
Your lender orders an appraisal to confirm the home is worth the price, and underwriting checks your documents one more…
3 business days
Review your Closing Disclosure
At least three business days before closing, your lender must give you a Closing Disclosure with your final loan terms …
1 day
Final walkthrough and closing day
Walk through the home a day or so before closing, then sign the papers, pay your cash to close and get the keys.