First-Time Homebuyer Guide: What to Expect From Start to Keys

First-Time Homebuyer Guide: What to Expect From Start to Keys

Buying your first home is a big step—and for many, it can feel like stepping into a world with its own language, rules, and hurdles. At Horizon Funding, our job is to make it all make sense. Whether you’re just starting to think about buying or already touring homes, this guide will walk you through the full process from start to keys in hand.

Step 1: Start With a Conversation

Before anything else, let’s talk.

We’ll ask you some simple questions:

• Are you currently renting?

• Do you have a target monthly payment in mind?

• Are you shopping alone or with someone?

• Do you have a rough timeline?

You don’t need to have all the answers—this is where we help you figure them out. Our first goal is to understand your situation, answer any questions, and put together a plan based on where you are today.

We believe in straight talk, not sales talk. If now’s not the right time to buy, we’ll tell you—and help you prepare for when it is.

Step 2: Get Pre-Qualified (or Pre-Approved)

Once we’ve talked through your goals, the next step is to see what kind of home loan you may qualify for.

Here’s how this works:

• You give us some basic documents (more on that below)

• We review your income, credit score, savings, and debt

• We let you know what price range and monthly payment fits your budget

This is called a pre-qualification, and it’s a great starting point. If you’re ready to shop seriously, we’ll move you into a pre-approval, which involves a deeper review and gives you a letter you can use when making offers.

🎯 Why it matters: Agents and sellers will take you more seriously if you're pre-approved. It tells them you're ready and qualified to close.

Step 3: Gather Your Documents

We’ll guide you through this, but generally you’ll need:

• Last 30 days of pay stubs

• Last 2 years of W-2s or tax returns

• Last 2 months of bank statements

• ID (like a driver’s license)

• Credit authorization (we pull your credit with your permission)

Don’t worry—if you’re self-employed, retired, or have non-traditional income, we can work with that too. We’ll explain what we need based on your unique situation.

Step 4: Shop With Confidence

Once pre-approved, you’ll know:

• What price range to shop in

• What your monthly payments could look like

• That you’re ready to make a serious offer

This is the fun part. While you’re touring homes with your real estate agent, we’re standing by to answer any questions, run payment estimates, and help structure your offer.

🏠 Bonus tip: Be ready to move fast in competitive markets. Being pre-approved puts you in a stronger position if you need to act quickly.

Step 5: Make an Offer & Go Under Contract

You’ve found your home—now what?

You make an offer through your agent. If it’s accepted, you go “under contract.” That’s when the loan process officially begins.

Here’s what happens next:

• We order the appraisal

• You lock your interest rate (we’ll help you choose the right time)

• Your loan file goes into underwriting for approval

• You get your loan disclosures and start reviewing final terms

We stay in close contact throughout. No surprises. No confusion.

Step 6: Final Approval & Closing Day

Once underwriting gives us the green light and the appraisal comes back okay, you’ll be “clear to close.” That means your loan is fully approved and ready to go.

Before closing:

• You’ll get a Closing Disclosure showing your exact costs

• You’ll wire in your down payment and closing funds

• We’ll schedule a time for you to sign everything

On closing day, you’ll sign your loan paperwork, take ownership of the home, and get the keys. Welcome home!

Final Thoughts

We know buying your first home can feel intimidating—but it doesn’t have to be. With Horizon Funding, you’ll have a team that explains everything in plain language, walks you through each step, and looks out for your best interest the entire way.

✅ No pressure.
✅ No confusion.
✅ Just a clear path to homeownership.

Let’s talk when you’re ready. Even if it’s just to ask questions.