DFW Home Buyers Guide
Your comprehensive guide to buying a home in the Dallas-Fort Worth Metroplex. From first-time buyer tips to closing day, we'll walk you through every step of the journey.
First-Time Homebuyer Checklist
Start your home buying journey on the right foot with these essential steps every first-time buyer should take in the DFW market.
Before You Start Shopping
- Check and improve your credit score (aim for 620+)
- Save for down payment (3-20% of home price)
- Calculate your budget and monthly payment capacity
- Research DFW neighborhoods and school districts
- Get pre-approved for a mortgage
- Choose a trusted real estate agent
During Your Home Search
- Make a wish list vs. needs list
- Tour homes with your agent
- Research comparable sales in the area
- Factor in HOA fees and property taxes
- Consider future resale value
- Don't fall in love with the first house
Making an Offer
- Review recent comparable sales
- Include appropriate contingencies
- Submit earnest money deposit
- Set realistic timeline expectations
- Prepare for negotiation
- Have backup options ready
The Home Buying Process: What to Expect
Understanding each step helps you feel confident and prepared throughout your home buying journey.
Get Pre-Approved (1-3 Days)
Work with a mortgage lender to determine your budget and get a pre-approval letter. This shows sellers you're a serious buyer and can act quickly when you find the right home.
Find Your Agent & Start Shopping (1-8 Weeks)
Partner with a trusted agent who knows the DFW market. Tour homes, compare neighborhoods, and narrow down your choices based on your needs and budget.
Make an Offer (1-3 Days)
When you find "the one," your agent will help you craft a competitive offer with appropriate contingencies for inspection, financing, and appraisal.
Under Contract: Inspections & Appraisal (2-3 Weeks)
Schedule home inspection, review property disclosures, and work with your lender on the appraisal. This is your opportunity to uncover any issues before closing.
Finalize Your Loan (1-2 Weeks)
Provide final documentation to your lender, review loan terms, and get clear to close. Your lender will order the final title work and coordinate with the closing attorney.
Final Walk-Through & Closing (1 Day)
Do a final walk-through 24-48 hours before closing, then sign paperwork, get your keys, and officially become a homeowner!
DFW Closing Costs Breakdown
Closing costs in Texas typically range from 2-5% of the home's purchase price. Here's what to expect when buying in the DFW area:
| Expense | Typical Range | Notes |
|---|---|---|
| Loan Origination Fee | 0.5% - 1% | Lender processing fee |
| Appraisal | $400 - $600 | Required by lender |
| Home Inspection | $300 - $500 | Highly recommended |
| Title Insurance | $800 - $2,000 | Protects your ownership |
| Survey | $300 - $600 | Property boundary verification |
| Recording Fees | $50 - $150 | County recording costs |
| Homeowner's Insurance | $1,200 - $2,400/year | First year prepaid |
| Property Tax Proration | Varies | Your share of annual taxes |
| HOA Transfer Fee | $100 - $400 | If applicable |
💡 Pro Tip: In Texas, buyers typically pay for the title policy, survey, and their portion of closing costs. Some costs may be negotiable with the seller, especially in a buyer's market. First-time homebuyer programs may help with down payment and closing cost assistance.
Mortgage Pre-Approval Tips for DFW Buyers
Getting pre-approved puts you in a stronger position to make competitive offers in the DFW market.
Documents You'll Need
- 2 years of tax returns
- 2-3 months of pay stubs
- Bank statements (2-3 months)
- Employment verification letter
- Investment account statements
- List of current debts and monthly payments
Credit Score Impact
- 740+ = Best rates and terms
- 680-739 = Good rates available
- 620-679 = Higher rates, still qualifying
- Below 620 = Limited options, consider FHA
- Check credit report for errors
- Pay down existing debts before applying
DFW First-Time Buyer Programs
- Texas First Time Homebuyer Program
- FHA loans (3.5% down)
- VA loans (0% down for veterans)
- USDA loans (for eligible suburbs)
- Local down payment assistance
- Ask about closing cost credits
Ready to Start Your Home Search?
The Yost Team has helped hundreds of first-time buyers find their perfect home in the DFW Metroplex. Let us guide you through every step of the process with confidence and expertise.
📞 Call (817) 382-9791 Today