First-time home buying
Your step-by-step guide to buying your first home in DC, Maryland, Virginia or West Virginia, and the programs that can help with your down payment.
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Buying your first home is exciting — and there's a lot to learn. Here's how it works, start to finish. Questions at any step? Call us; we're happy to walk you through it.
First-time buyer programs
Down-payment and closing-cost help may be available. Ask your lender which programs you qualify for:
- 1
Check your budget
Look at your credit, savings and monthly budget. Plan for the down payment plus closing costs.
- 2
Get pre-approved
A lender reviews your income, assets and credit and tells you how much you can borrow. Sellers take pre-approved buyers more seriously.
- 3
Choose your agent
Before you tour homes you'll sign a written buyer agreement that explains what your agent does for you and how they are paid.
- 4
Search homes
Use our Free MLS Search, save your favorites and tour the homes you like.
- 5
Make an offer
Your agent helps you choose the price, the contingencies (inspection, financing, appraisal) and your earnest money deposit (EMD).
- 6
Inspection and appraisal
A home inspector checks the home's condition; the lender's appraiser confirms its value.
- 7
Loan approval and title
Your lender finalizes the loan while the title company checks the title and prepares the closing. Ikon's in-house title company is Loudoun Title.
- 8
Final walk-through and closing
Walk through the home one last time, sign at the closing table and get your keys.
Questions? Get in touch or call (703) 282-8444.