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Home 1st Time Home Buyers 1st Time Home Buyer Checklist, Summer 2009

1st Time Home Buyer Checklist, Summer 2009

I'm thinking of buying my first home. What do I need to do to get started?

Simple Route:

  1. $5K for closing costs
  2. 20% down payment
  3. 2 years tax statements to verify income
  4. 6 months of bank statement to verify available cash for down payment and closing cost
  5. definite time frame of move-in is 45 days or more
Complex Route:
  1. $3K for closing costs
  2. 5% down payment
  3. 2 years tax statements to verify income
  4. 6 months of bank statement to verify available cash for down payment and closing cost 
  5. patience in playing home buying game (possibly take 6 months or more)
I will expand more on this subject, but for now it is up for discussion or questions.