First-Time Home Buyers Checklist

Buying your first home is exciting, yet it can also feel overwhelming. From understanding affordability to navigating the process, there are many moving parts. Mark believes the journey should feel empowering, not stressful. Here’s your roadmap to homeownership in Washington State.

1. Know What You Can Afford

Start with a mortgage calculator to determine a comfortable monthly budget. Lenders evaluate income, credit score, down payment, and debt-to-income ratio. Don’t forget to include closing costs, homeowners' insurance, and property taxes in your planning. If you are looking at a condo, be sure to factor in monthly HOA (Homeowners Association) fees as well.

2. Identify Your Must-Haves and Deal Breakers

Define your top priorities—be it location, schools, layout, or walkability. Knowing your top three must-haves and one deal-breaker helps your agent focus your search effectively.

3. Location, Location, Location

Choose your top three neighborhoods and have your agent provide insights on commute, amenities, schools, and future value to narrow your search.

4. Get Pre-Approved (Required Before Viewing Homes)

Most agents require pre-approval before showing homes; it signifies you’re a serious buyer. Being pre-approved gives you a clear budget and lets you move quickly when you find the right property.

5. Explore First-Time Buyer Programs (Washington State)

There are several programs offered throughout the state of Washington to help first-time home buyers make their homeownership dream a reality:

• Washington State Housing Finance Commission (WSHFC): Offers classes, approved lenders, and detailed information about homebuyer programs.

• Home Advantage Program: 30-year fixed first mortgages paired with down-payment assistance options.

• House Key Opportunity Program: Below-market-rate loans for eligible buyers.

• HomeChoice: For buyers with disabilities or those living with a disabled household member, offering down-payment assistance.

• Veterans Down Payment Assistance Program: Provides assistance for eligible veterans, unmarried surviving spouses, and dependent children of deceased veterans.

• City of Tacoma Down-Payment Assistance Program: Offers zero-interest, deferred loans for eligible first-time buyers purchasing within Tacoma city limits.

Tip: Most WSHFC programs require a Commission-sponsored homebuyer education class and a WSHFC-trained lender (both are linked from the WSHFC page above).

6. Be Ready to Make an Offer

Homes, especially starter ones, can move quickly. Work with your agent to establish your “walk-away” price—how much you’re willing to go above the asking price without stretching your budget. This preparation helps you act decisively when the right home appears.

7. Final Thoughts

Homeownership doesn’t need to feel intimidating. With guidance, preparation, and access to state programs, you can find a home that suits your budget and lifestyle. Mark will guide you through each step—from pre-approval to closing day.

Ready to start your home buying journey? Contact us today to get started!

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