First-Time Homebuyer Guide for Central Iowa

1. Understand Your Budget

Start by estimating a comfortable monthly payment, not just a purchase price. Include principal and interest, property taxes, insurance, possible HOA dues, utilities and maintenance. A trusted lender can explain loan programs, minimum down payments, and whether you qualify for any available assistance. Program requirements change, so verify eligibility with your lender.

2. Get Preapproved

Mortgage preapproval helps define your estimated financing range and can strengthen an offer. Ask the lender about closing costs, what documentation is needed, and how long the preapproval lasts.

3. Make a List of Needs and Wants

Think beyond bedrooms and baths: location, commute, layout, garage, yard, future needs, and the condition of major systems. Explore neighborhoods and compare available homes across Central Iowa. Search available homes or learn about our buyer services.

4. Tour Homes and Review Comparable Sales

We help you schedule showings, evaluate asking prices and review available disclosures and comparable sales. Pay attention to roofing, grading, foundation concerns and mechanical systems. A showing doesn't replace a professional inspection.

5. Write an Offer

We'll explain purchase price, earnest money, financing, inspection and appraisal terms, proposed closing date and possession. Every situation differs; we'll discuss a strategy for your goals and current competition.

6. Navigate Inspections and Financing

Once an offer is accepted, watch your contract deadlines. Arrange inspections when applicable, evaluate findings and discuss negotiations. Your lender will guide appraisal, underwriting and final loan approval.

7. Prepare for Closing

Confirm final funds and wire instructions directly with a verified professional, review closing disclosures, and complete the agreed final walkthrough. At closing, the paperwork and possession terms determine when you receive your keys.

Questions First-Time Buyers Ask

Do I need 20% down?

No single down-payment requirement applies to every loan. Your lender can outline options based on your qualifications.

How long does buying take?

It depends on home availability, your search and the transaction. We'll help set a realistic timeline.

Can you help in Spanish?

Yes. Our team works with English- and Spanish-speaking buyers. Lea nuestra guia en espanol.