First time home buyer guide

Step 1: Prepare

Each first-time homebuyer wants something different. Some care about the quality of schools, others value nearby shopping and restaurants. The list is endless. Of course, home ownership also has benefits everyone agrees on. For instance, it can offer significant tax benefits* and the possibility of building equity.

Check Your Financial Fitness

What home can I afford?

Before you shop for your new home, it’s important to find out how much you can afford. After all, there’s no sense finding your dream home only to discover it’s out of your price range. Use this mortgage calculator to estimate how much home you can buy.

View Calculator

Step 2: Shop for a Home

Now that you’re ready to buy, it’s time to find your dream home. This is the fun part! The one challenge is to keep track of all the features of all the homes you see in your search. Our advice is simple: Take notes and take pictures.

Step 3: Make an Offer

Now that you have found the home you want, it’s time to make an offer. Your real estate professional can assist you with a letter of intent for the seller. The seller then has a specific time frame to consider the offer and accept it or submit a counter offer to you. Once you and the seller reach an agreement and the letter of intent is signed, you are ready to finalize your financing.

Step 4: Apply for a Mortgage

If you’re buying your first home, remember that the mortgage you choose is just as important as the home you choose. So it’s important that you work with the right mortgage lender. We believe that’s us.

Consider Fifth Third your mortgage resource. We have a wide selection of financing options. But more important, we have mortgage loan specialist experienced in helping first-time homebuyers and are happy to assist you every step of the way.

Step 5: Closing Time

The hard part is over, and it’s almost time to open the door to your new home. There are still some important details left to do.

In the closing, the loan documents are signed, the balance of the loan costs are calculated, funds are disbursed and the transaction is complete. Then you will receive the keys to your new home.

Download After Closing PDF

To apply for a home loan or refinance:

For questions about your existing loan: