First-Time Homebuyer Checklist (DFW): 10 Things To Do Before You Tour Homes

1. Check Your Credit Report (and Fix Any Errors)

Before anything else, pull your credit report from AnnualCreditReport.com. Look for errors — wrong balances, accounts that aren't yours, or late payments that were actually on time. Disputing errors can boost your score quickly and for free.

Your credit score affects the loan programs you qualify for and the interest rate you'll receive. Knowing where you stand early gives you time to improve it if needed.

2. Know Your Monthly Budget (Not Just the Purchase Price)

Most people focus on the home price, but what really matters is the monthly payment. In DFW, property taxes can be significant — often 2% or more of the home's value per year. Add in homeowner's insurance, HOA fees, and maintenance, and the total can be higher than you expect.

A good rule of thumb: keep your total housing costs (mortgage, taxes, insurance) under 28-33% of your gross monthly income. I'll help you run the real numbers so you know exactly what's comfortable.

3. Get Pre-Approved (Not Just Pre-Qualified)

Pre-qualification is a rough estimate. Pre-approval is the real deal — it means a lender has reviewed your income, credit, and finances and confirmed what you can borrow. In DFW's competitive market, sellers take pre-approved buyers much more seriously.

I can usually get you pre-approved within 24 hours. It's the single most important step you can take before touring homes.

4. Research Down Payment Assistance Programs

Many DFW first-time buyers qualify for down payment assistance and don't even know it. Programs through TSAHC and local city programs can provide grants or forgivable loans to help cover your down payment and closing costs.

Don't assume you need 20% down. With the right program, you could buy a home with as little as 0-3.5% out of pocket.

5. Gather Your Financial Documents

Having your paperwork ready speeds up the entire process. Before you start touring, collect:

• •Last 30 days of pay stubs
• •Last 2 years of W-2s or tax returns
• •Last 2 months of bank statements
• •Government-issued photo ID

6. Decide What You Need vs. What You Want

Make two lists: must-haves and nice-to-haves. Must-haves might include a certain number of bedrooms, proximity to work, or a specific school district. Nice-to-haves might be a pool, a three-car garage, or a specific neighborhood.

Being clear about your priorities helps you (and your Realtor) focus your search and make faster decisions when the right home comes along.

7. Research DFW Neighborhoods

Dallas-Fort Worth is massive, and every area has a different personality. Frisco and Prosper are booming with new construction and top schools. Fort Worth and Arlington offer more affordable options. Plano and Richardson have established infrastructure and corporate campuses.

Visit neighborhoods at different times of day. Drive the commute. Check out local shops and restaurants. The home is important, but the neighborhood is where you'll live your daily life.

8. Find a Realtor You Trust

A great buyer's agent knows the DFW market, negotiates well, and communicates clearly. Ask friends and family for recommendations, or ask me — I work with several excellent Realtors across the metroplex and I'm happy to connect you.

Your Realtor and your loan officer work as a team. When we're both on the same page, the process is smoother for everyone — especially you.

9. Avoid Big Financial Changes

Once you're in the pre-approval process, keep your finances stable. That means:

• •Don't open new credit cards or loans
• •Don't make large purchases (new car, furniture, etc.)
• •Don't switch jobs if you can help it
• •Don't move large sums of money between accounts without documentation

Any of these can affect your loan qualification. When in doubt, call me first.

10. Set Realistic Expectations About Timeline

From pre-approval to closing, the typical timeline is 30-45 days once you're under contract. But finding the right home can take anywhere from a week to several months, depending on your criteria and the market.

The DFW market can move fast, so being prepared (pre-approved, documents ready, priorities clear) means you can act quickly when the right home appears. That preparation is what this entire checklist is about.