First-Time Homebuyer Readiness Checklist Florida

Before You Do Anything — The Foundation Steps

1. Pull your credit reports and scores from all three bureaus Free at AnnualCreditReport.com. You need to see what lenders will see. Check for errors — disputed errors can be corrected, raising your score. Know your starting number. See the full Credit Score Requirements for a Home Loan in Florida.
2. Calculate your realistic budget — including South Florida's full cost picture Not just mortgage payment. Budget: P&I payment + property taxes at purchase price (not seller's rate) + homeowners insurance at current South Florida market rate ($4,000–$8,000/year) + flood insurance if applicable + HOA fees if applicable. This is your real monthly cost.
3. Research down payment assistance programs before assuming you need a large down payment In Miami-Dade: up to current program limits combined. Broward: up to current program limits. Palm Beach: up to current program limits in Boca Raton. See the South Florida Grant or Assistance Option & Assistance Options Directory. Many first-time buyers may fit programs that cover down payment AND closing costs.
4. Save specifically for cash-to-close beyond assistance Even with DPA, budget $2,000–$5,000 minimum as your personal contribution. Most programs require at least $1,000 from your own funds.

→ Before you begin: 10 Mistakes First-Time Buyers Make in Florida — and How to Avoid Them

Getting Ready to Buy — Pre-Approval Phase

5. Gather your financial documents before contacting any lender Two years W-2s, two years tax returns, two months bank statements (all pages), most recent pay stubs (last 30 days), photo ID, Social Security number. Having these ready speeds pre-approval from weeks to days.
6. Get prepared for lender review (not just pre-qualified) from a Florida-experienced lender Ask specifically: Do you originate Florida Housing Finance Corporation loans? Do you accept FHA with scores under 620? Do you have experience with Hometown Heroes and county DPA stacking? If you are considering a duplex or 2–4 unit property, see the FHA Duplex Loan Florida guide.
7. Get pre-approval letter in hand before contacting any real estate agent or visiting any property Your offer is not competitive without it. Sellers take lender-reviewed buyers seriouslyly; pre-readiness less so.
8. Call Roland Ruiz before visiting any property or sales office — 305.731.0387 Buyer representation is free. A licensed GC walking every property you consider costs you nothing. For new construction especially: one 5-minute call before visiting any DR Horton sales office protects your right to free GC-backed representation throughout the entire build.

The Property Search Phase

9. Define your must-haves vs. nice-to-haves before you look at the first house Bedrooms, bathrooms, school zone, commute limit, HOA or no HOA, new construction vs. existing, minimum square footage. Know your dealbreakers before you fall in love with the wrong property.
10. Ask for roof permits and HVAC age on every property before showing Roof permits are public record through the county. Knowing roof age before you schedule a showing saves everyone time. If the roof is 17 years old and you need insurance immediately, that is a material factor before you invest emotion.
11. Check the flood zone before visiting msc.fema.gov — enter any address. A Zone AE property adds $1,500–$4,000/year in flood insurance. That changes your monthly payment and your DTI calculation.
12. Check for HOA and get the financials if present For HOA properties: request the most recent reserve fund study, HOA budget, and meeting minutes. A poorly funded HOA is a special assessment waiting to happen.
13. For condos: verify FHA approval status at hud.gov if using FHA financing Post-Surfside, many South Florida condo buildings are no longer FHA-approved. Verify before making an offer.

Making the Offer and Contract Phase

14. Review every contract term before signing — especially the inspection period Standard Florida inspection period is 10–15 days. This is your window to walk away with earnest money back if inspections reveal problems. Do not waive or shorten this period without expert guidance.
15. Pay earnest money promptly — within the contract deadline Typically 3 business days after acceptance. Missing the earnest money deadline can void your contract. Wire funds only after direct verbal confirmation with the title company.
16. Order homeowners insurance quotes within the first week of contract Do not wait until the week of closing. Get 3 quotes from South Florida-experienced carriers. If the insurance cost is prohibitive, you want to know during the inspection period — not 2 days before closing.

The Inspection Phase — The Most Important Week

17. Schedule a full home inspection with a South Florida-licensed inspector Cost $350–$600. Attend the inspection if possible — two hours of learning about your future home's condition directly from the inspector.
18. Schedule a 4-point inspection for any home 20+ years old Required by most South Florida insurers. See the 4-Point Inspection Guide for what it covers.
19. Schedule a WDO inspection (termites) Required by most lenders. Florida's termite activity is among the highest in the nation.
20. Schedule Roland's GC walkthrough Included free with buyer representation. Roof condition, electrical panel type, plumbing material, permit records — a contractor's assessment that converts inspection findings into specific dollar amounts for negotiation.
21. Request a wind mitigation inspection $75–$150. See the Wind Mitigation Guide. Can reduce your insurance premium 10–40% permanently.
22. Negotiate based on inspection findings before the inspection period expires Request seller repairs, price credits, or a combination. Issues found during inspection are your negotiating leverage — and they disappear when you sign past the inspection period.

Loan and Pre-Closing Phase

23. Lock your interest rate Discuss rate lock timing with your lender. A rate lock protects you from rate increases during the loan processing period. Typical lock periods are 30–60 days.
24. Do not make major purchases or apply for new credit after pre-approval No new credit cards, no car loans, no furniture financing before closing. New credit inquiries and debt can disqualify you from the loan even after pre-approval.
25. Respond to all lender document requests immediately Underwriters move at the speed of your responses. A 48-hour delay from you becomes a 5-day delay in closing. Keep your documents organized and respond the same day.
26. Review the Closing Disclosure when it arrives — compare to your Loan Estimate See the Closing Disclosure Guide. Verify Section A fees didn't increase, your earnest money is credited, and the seller's tax proration credit is present.

Closing Day and Immediately After

27. Do a final walkthrough 24–48 hours before closing Verify the property is in the same condition as when you inspected it, and that agreed-upon repairs were completed. This is your last opportunity to raise issues before you own the property.
28. Bring valid government-issued photo ID and certified funds to closing Wire transfer or cashier's check for the cash-to-close amount. Wire funds only after direct verbal confirmation with the title company — wire fraud is the fastest-growing real estate fraud in Florida.
29. File for Florida Homestead Exemption by March 1 of the following year You must file within the first year of ownership. See the Homestead Exemption Guide. Saves up to $50,000 off your assessed value and caps future tax increases at 3% per year.
30. Change your locks on closing day You have no way of knowing how many copies of the old keys exist. A locksmith visit costs $100–$200 and is worth every dollar.
31. Update your driver's license, voter registration, and vehicle registration to your new address Required to maintain your Florida Homestead Exemption eligibility review in subsequent years.
32. If moving from another Florida homesteaded property — file portability by March 1 See the Save Our Homes Portability Guide. Transfer up to $500,000 in tax savings to your new home.