Arizona First-Time Homebuyer Timeline + Checklist
From "thinking about buying a home" to keys-in-hand, here's a realistic Arizona timeline — including the homebuyer education course step that DPA programs require.
Phase 1: Pre-shopping (60–90 days before you make an offer)
- Pull your credit report (free at annualcreditreport.com). Look for errors.
- List your debts and income. Estimate your DTI.
- Estimate your savings for cash-to-close.
- Talk to a loan officer for a no-commitment pre-qualification. Get realistic numbers on what you'd qualify for and which DPA programs fit.
- If using DPA: start the homebuyer education course. It takes 4–6 hours; better to have it done before you're under contract.
Phase 2: Pre-approval (1–2 weeks)
- Provide income documentation (paystubs, W-2s, 2 years of tax returns if self-employed).
- Provide asset documentation (2 months of bank statements).
- Authorize a credit pull.
- Receive a pre-approval letter showing your max purchase price and approved loan program.
Phase 3: Find a real-estate agent (1–2 weeks)
Pick an agent with experience in your target area. They should know the local market, comparable sales, and any quirks of properties in your price range. We work with many AZ agents and can refer one — but you choose.
Phase 4: Shop (1–8 weeks)
Variable. Depends on inventory in your target area, your specifications, and how aggressively you're shopping. In Phoenix metro, well-priced first-time-buyer-friendly homes can go in days. Be ready to write offers quickly.
Phase 5: Under contract → close (30–45 days)
Once your offer is accepted:
- Days 1–7: Earnest money deposited. Inspection scheduled.
- Days 5–14: Home inspection completed. Negotiate repairs / credits.
- Days 7–21: Appraisal ordered and completed. Underwriter reviews the loan file.
- Days 14–30: Loan conditions cleared (anything underwriting needs). DPA program documents finalized.
- Days 28–35: Final loan approval. Closing disclosure issued (3-day waiting period required).
- Days 35–45: Sign closing documents. Funds wired. Keys handed over.
Phase 6: Move + early ownership
- Set up utilities, mail forwarding, homeowners insurance (must be in place at closing).
- Save your closing documents — you'll need them at tax time.
- If using DPA with a forgiveness clock, mark the forgiveness milestone date on your calendar (typically 3, 5, or 7 years from closing).
The first-time buyer checklist
| Item | When | Cost (typical) |
|---|---|---|
| Credit report check | Phase 1 | Free |
| Pre-qualification call | Phase 1 | Free |
| Homebuyer education course (if DPA) | Phase 1–2 | $0–$99 |
| Pre-approval | Phase 2 | Free (no app fee with us) |
| Earnest money deposit | Phase 5 (under contract) | 1–3% of price |
| Home inspection | Phase 5 | $400–$800 |
| Appraisal | Phase 5 | $600–$900 |
| Closing costs | Phase 5 | 2–4% of loan |
| Down payment | Phase 5 | 0–20% of price (loan-type dependent) |
Next step
The cleanest start is a 20-minute pre-qualification call. We'll tell you what loan amount you'd qualify for, which DPA programs fit, and what realistic cash-to-close looks like for your numbers.
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