First-Time Home Buyer Checklist: Pre-Approval to Closing Day

The average first-time buyer spends 8 weeks searching for a home and another 30 to 45 days getting to closing after their offer is accepted. That's roughly three months of decisions where most of the rules aren't written down anywhere. Here's the checklist that pulls them together, what to do, when, and why.

Step 1: Pull your own credit report before a lender does

Three months before you start shopping, request your free report from all three bureaus at AnnualCreditReport.com. Lenders pull a tri-merge report and use the middle score, so you want to see what they'll see.

Look for collections, late payments, and accounts you don't recognize. A 40-point score swing can move your interest rate by half a percentage point, on a $300,000 loan, that's roughly $90 a month for the life of the mortgage.

If something is wrong, dispute it now. Corrections take 30 to 60 days, and you don't want to be fighting Equifax the week your offer is accepted.

Step 2: Get pre-approved (not pre-qualified)

These two terms get used interchangeably. They're not the same.

• Pre-qualified: A lender estimates what you might borrow based on numbers you tell them. No documents, no real commitment.
• Pre-approved: The lender pulls credit, verifies income with W-2s and pay stubs, and issues a letter stating exactly what they'll lend.

Sellers ignore pre-qualification letters. In a competitive market, you need pre-approval before you start touring homes.

Talk to at least three lenders within a 14-day window. Multiple mortgage inquiries inside that window count as one credit pull, so you can rate-shop without taking a credit hit. Compare interest rate, lender fees, and points, not just the monthly payment.

Step 3: Run the real budget, including everything

Pre-approval tells you what a lender will give you. It does not tell you what you should spend.

A complete monthly housing budget includes:

• Principal and interest (the mortgage itself)
• Property taxes (varies by county, Norfolk averages 1.25% of assessed value)
• Homeowners insurance ($1,200-$2,400 a year for most VA homes)
• HOA fees if applicable
• PMI if you're putting less than 20% down (typically 0.5%-1.5% of the loan annually)
• A maintenance reserve (1% of the home's value per year is the standard rule)

On a $350,000 home with 10% down, that "all-in" monthly cost is usually $2,400-$2,800, not the $1,900 the mortgage calculator shows.

Closing costs are separate. Plan for 2%-5% of the purchase price in cash at closing, on top of your down payment.

Step 4: Define what you actually need before you tour

First-time buyers tour too many homes and then forget which one had the second bathroom. Write down your non-negotiables before you start:

• Maximum commute time (test it during rush hour)
• Number of bedrooms (count two years out, not today)
• School zone if relevant
• Yard, garage, basement, yes/no, not "would be nice"
• Maximum HVAC age, roof age, and electrical panel type

Then write a separate list of "would be nice" features. When you walk into a house and feel emotional about the kitchen, the list keeps you honest.

Step 5: Find a property and submit an offer

This is where the traditional process and the VroomBrick process start to look different.

In a traditional transaction, a buyer's agent shows homes, drafts the offer, and earns a commission paid by the seller, usually 3% of the sale price. After the 2024 NAR settlement, that commission is now negotiated directly between the buyer and their chosen agent. It's no longer automatic.

On VroomBrick, buyers tour homes through independent showing agents booked in the dashboard, and a licensed closing attorney handles contract terms. You see exactly what each licensed professional costs before you commit to anything.

Either way, your offer should include:

• Purchase price
• Earnest money deposit (typically 1%-2% of the purchase price)
• Financing contingency (lets you exit if the loan falls through)
• Inspection contingency (lets you exit or renegotiate after inspection)
• Appraisal contingency (lets you exit if the home appraises below the purchase price)
• Closing date (usually 30-45 days out)

Step 6: Inspection, appraisal, and the underwriting black box

Once your offer is accepted, three things run in parallel:

Home inspection (you pay, $400-$700). A licensed inspector spends 2-3 hours on the property and gives you a 30-50 page report. Read all of it. Use the major findings, roof, foundation, HVAC, electrical, plumbing, as the basis for any repair requests or credit negotiations.

Appraisal (your lender orders, you pay $500-$700). The appraiser confirms the home is worth what you offered. If it appraises low, you renegotiate, bring extra cash, or walk.

Underwriting (your lender, no cost to you). Underwriters re-verify everything: employment, bank statements, debt-to-income ratio. Don't open new credit cards, don't change jobs, don't buy a car. Anything that changes your financial picture can torpedo the loan a week before closing.

Step 7: Final walkthrough and closing day

Twenty-four hours before closing, walk the property one more time. Confirm anything the seller agreed to repair was actually repaired. Confirm the appliances are still there. Check that the home is in the condition you agreed to buy it in.

At closing, you'll sign roughly 60-100 pages. The closing attorney walks you through the major ones: the deed, the mortgage note, the closing disclosure (which you should have received three days earlier, compare it line-by-line against the loan estimate from your lender).

You'll wire your down payment and closing costs ahead of time. Wire fraud is the single biggest scam targeting homebuyers, call your closing attorney's office to verify wiring instructions before you send anything.

Then you get the keys.

Where the buyer-side fee structure has changed

Worth pausing on, because this is the question that confuses most first-time buyers in 2026: who pays the buyer's agent?

Pre-2024, the seller paid both commissions out of the sale proceeds. After the NAR settlement, the buyer's agent commission is negotiated directly between the buyer and their agent. It's a separate conversation from the seller-side fee.

This matters because it gives you, the buyer, more control over what you spend on representation, and more reason to understand what you're actually paying for. A licensed showing agent who unlocks the door is a different service from a full-service buyer's agent who negotiates terms. The fees should reflect that.

Run your numbers before you tour

Before you book your first showing, know what your monthly payment looks like at three different price points and two different down payment amounts. The savings calculator shows the seller-side fee math too, useful context if you'll eventually be on the other side of this transaction.

If you're buying in Virginia, the state-specific process and inspection requirements are covered on the Virginia buyer page.

See What This Costs in Real Numbers

Most first-time buyers underestimate the all-in cost of homeownership by 20%-30%. Run your target purchase price through the savings calculator to see the actual breakdown — mortgage, taxes, insurance, fees — and what you'd save when you resell. VroomBrick replaces the 3% buyer's agent commission with a 1% technology fee, saving roughly $10,000 on a $500,000 home.

Calculate Your Numbers →

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About VroomBrick: VroomBrick is a real estate technology platform, not a licensed real estate brokerage. VroomBrick does not provide brokerage services, represent buyers or sellers, or hold real estate licenses. The 1% technology fee covers platform access; closing attorneys, showing agents, and lender partners are independent licensed professionals. Commissions are not set by law and are fully negotiable. Savings examples are illustrative; actual savings vary by transaction.