The home buyer’s guide, from budget to keys.

• The loan payment: principal and interest.
• Property tax: the county or town sets it. Ask for the current bill, and remember a seller’s bill can be lower than yours will be after the sale.
• Insurance: homeowners insurance, plus flood or wind coverage where needed.
• Mortgage insurance: often required when you put down less than 20%.
• HOA, condo or lot rent: ask what it covers and how often it has gone up.
• Utilities and upkeep: set money aside every month for repairs. Roofs, water heaters and air conditioners all wear out.

Then decide what you are comfortable paying, which may be less than what a lender approves.

• Get your free credit reports from all three bureaus at AnnualCreditReport.com, the official free site. Dispute anything that’s wrong.
• Hold off on new debt. Don’t open new cards or finance a car while you’re buying a home.
• Down payment: FHA loans allow 3.5% down with a credit score of 580 or higher. Some conventional loans allow 3%. VA and USDA loans can need nothing down for buyers who qualify.
• Closing costs: often about 2% to 5% of the price, on top of the down payment.
• A cushion: keep some savings after closing for moving and the first repairs.

• Down payment assistance: state housing agencies offer grants and low-cost second loans, often for first-time buyers, with income and price limits. The home cost calculator shows your state’s programs with its loan options.
• Property tax exemptions: homestead, senior, veteran and disability exemptions can lower your tax bill. See what you may qualify for in your state.
• A HUD-approved housing counselor: free or low-cost, and not selling you anything. Find one near you on the Consumer Financial Protection Bureau’s site.
• Your state’s programs on one page: down payment help, tax exemptions and veteran benefits, state by state.
• A homebuyer education class: many assistance programs require one, so take it early.

• Get offers from at least three lenders on the same day, so the rates are comparable.
• Compare Loan Estimates. A lender must send you one within three business days of your application. Compare the rate, the points, the lender fees and the cash needed to close, not just the monthly payment.
• Ask about the rate lock: how long it lasts and what happens if closing is delayed.
• Ask which assistance programs they work with, if you plan to use one.
• You choose. You don’t have to use a lender the seller, builder or agent suggests.

We don’t recommend lenders or take referral fees. The Consumer Financial Protection Bureau’s Buying a House tools walk you through a Loan Estimate line by line.

• Read any buyer agreement before you sign it. Many agents now ask you to sign a written agreement before touring homes. Check what it says you’ll pay and how long it lasts.
• Check the flood zone with our FEMA flood check and ask about past water, even outside a flood zone.
• Check the facts that matter to you: drive the commute at rush hour, measure the distance to work, school and stores, and visit at different times of day.
• Ask for the HOA, condo or park documents early: the rules, fees, budget and any planned special assessments.
• Buying a manufactured home? Who owns the land changes everything. Use the manufactured home buyer’s checklist.
• Bring your questions. Take the question list to every showing.

• Earnest money: the deposit that shows you’re serious. Ask who holds it and when you could lose it.
• Contingencies let you back out without losing your deposit if something goes wrong. Common ones are the inspection, the financing, the appraisal and, where insurance is hard to get, insurance.
• Deadlines: write down every date in the contract. Missing one can cost you a contingency.
• Seller disclosures: ask for them in writing. What a seller must disclose depends on the state.
• Don’t let anyone rush you into waiving the inspection to win a home.

• Hire your own inspector, one you choose and pay, and go with them if you can.
• Read the whole report, including what the inspector did not inspect.
• Add specialists when the report or the home calls for it: roof, sewer or septic, pests, mold or structure. Our inspections guide explains what each kind covers.
• Get insurance quotes before your inspection period ends. Some homes are hard or costly to insure, and you want to know that while you can still walk away.
• Flood insurance usually takes 30 days to start through the National Flood Insurance Program, though a policy required for a new loan can start at closing. Ask early. FloodSmart.gov explains the rules.

• The appraisal checks the home’s value for the lender. If it comes in low, your appraisal contingency matters.
• The title search and title insurance check that the seller can sell and that there are no hidden liens.
• The Closing Disclosure must reach you at least three business days before closing. Compare it with your Loan Estimate and ask about anything that changed.
• Watch out for wire fraud. Before you send money, call the title or closing company at a phone number you looked up yourself, not one from an email. Criminals send fake wiring instructions.
• Do a final walk-through to check that agreed repairs were made and nothing was damaged or removed.

• Apply for your exemptions. Most aren’t automatic, and many have a yearly deadline. Check your state.
• Keep every document: the contract, disclosures, inspection reports, the Closing Disclosure, warranties and receipts.
• Change the locks and garage or gate codes.
• Start a repair fund and add to it every month.
• Ignore letters offering a copy of your deed for a fee. Your county recorder has it, usually for little or nothing.