Free First-Time Buyer Checklist | Nashville Dream Keys

1 Money prep (2–6 months out)

Pull your credit reports and scores (free at AnnualCreditReport.com)Dispute errors now. They take weeks to fix. Build your real budget: payment, taxes, insurance, HOA, maintenanceA payment you can afford beats a payment you can "technically" qualify for. Start your down payment + closing cost fund in a separate savings accountClosing costs in TN typically run 2–5% of the price on top of your down payment. Avoid new debt and big purchasesThat car loan can quietly shrink what a lender will approve you for.

2 Pre-approval (1–3 months out)

Gather documents: pay stubs, W-2s, tax returns, bank statementsLenders want the last 30 days of pay stubs and 2 months of statements, typically. Compare at least two lenders. Compare APR, not just the rateAPR includes fees, so it's the true cost comparison. Get a real pre-approval letter (not a pre-qualification)Sellers take pre-approved offers seriously; pre-qualifications get passed over. Ask about THDA and down payment assistanceTennessee buyers: see the Roadmap guide. You may qualify for thousands in help.

3 House hunt

Write your needs-vs-wants list with your budget ceilingBedrooms, commute, schools: rank them before you fall in love with a kitchen. Research neighborhoods at different times of dayDrive by on a weeknight and a Saturday morning. Vibes change. Tour with intention: photos lie, floor plans don'tCheck water pressure, outlets, windows, and the age of big systems (roof, HVAC).

4 Making an offer

Review comparable sales with your agentWhat similar homes actually sold for, not what they're listed at. Decide your offer price, earnest money, and contingenciesEarnest money in Nashville is commonly 1–2% of the price. Submit with your pre-approval letter attachedA clean, complete offer beats a messy higher one more often than you'd think.

5 Under contract

Schedule the home inspection within your inspection windowBe there if you can. You'll learn more in two hours than in twenty listings. Negotiate repairs or credits based on inspection findingsFocus on safety and big-ticket items, not cosmetic nitpicks. Lender orders the appraisal. Confirm it supports your priceIf it comes in low, you renegotiate, cover the gap, or walk (per your contract). Line up homeowner's insurance and get quotes earlyYour lender requires proof of insurance before closing.

6 Closing & keys day

Review your Closing Disclosure at least 3 days before closingCompare every line to your Loan Estimate. Question anything that moved. Do the final walkthroughConfirm the home's condition matches your contract: agreed repairs done, nothing missing. Arrange funds securely: verify wiring instructions by phoneWire fraud is real. Never wire money based on an email alone; call a known number. Sign, fund, record, then get your keys 🎉Bring a photo ID. Then change the locks, meet the neighbors, and breathe.

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Want the full story behind each step? Read the First-Time Buyer Roadmap →