1. Be an informed buyer. Numerous guides are available on specific subjects and our bookstore had additional recommended reading. Gather as much information as you can. Bookmark this checklist page will also save you time.

2. Familiarize yourself with the mortgage process. Have mortgage questions? Need a few mortgage tips?

3. Begin the application process by getting prequalified and preapproved from a mortgage lender. Do this first as it will significantly strengthen your offer when you find a home.

4. Get your financial picture in focus as soon as possible. Since it is an important component, be aware of your credit situation.

5. The best time to work on your budget is before you move.

6. Determine your housing needs and wants to determine what types of houses you should be considering.

7. Familiarize yourself with the various types of housing available: Single family, townhouse, and condo.

8. Familiarize yourself with how to set a value on a house. This can save you a great deal of time and helps to avoid disappointment.

9. When you find an acceptable house, write an offer. Familiarize yourself with how offers become contracts.

10. Arrange for home inspection. Protect yourself and do not skip this step!

11. Learn about home warranties and what they cover.

12. Compare and secure homeowners insurance. Since homeowners insurance is a long term expense, getting the best deal here brings savings that continue.

13. Make moving plans. If you plan to use a moving company, make comparisons and reserve time now.

14. Secure final loan approval and commitment from the lending institution. If you have done your "up-front" work, this should be one of your easiest steps.

15. Do a final walk through of the house.

---

Is Homeownership Right For You?

Before you begin, think about whether owning a home is right for you. Becoming a homeowner takes time, energy and money - but it's worth the effort! Ask yourself...

1. Do I have a steady, reliable source of income?

2. Have I been employed regularly for the last 2 years?

3. Do I pay my bills on time?

4. Is my total debt (all credit cards, car loans, etc.) manageable? Can I afford those debts and a mortgage?

5. Do I have some money saved for a down payment ?

6. Do I have some money saved for closing costs ?

7. Can I afford both the mortgage and other expenses, such as electric, water, repair and maintenance costs?

8. Do I plan to live in the house for at least 2 years - long enough to build some equity?

9. Do I have time to take care of a house - including responsibilities like mowing the lawn and repairing my property each spring?

10. Do I have time to devote to buying a home right now? Or are other commitments, like night school, a priority?

If you can answer "yes" to most of these questions, you are probably on your way to owning your own home.