First-Time Buyer Roadmap

Pre-approval tells you exactly how much home you can afford and shows sellers you're a serious buyer. George can typically turn this around the same day.

• Gather last 2 years of W-2s or tax returns (self-employed: 2 years of returns + P&L)
• Collect 2 most recent pay stubs
• Pull 2–3 months of bank statements (all accounts)
• Have your Social Security number ready for credit pull
• List all current debts (car loans, student loans, credit cards)
• Call or email George — receive pre-approval letter

Your pre-approval amount is the ceiling — your comfortable monthly payment is the floor. Decide what matters most before you start touring homes.

• Calculate your target monthly payment (principal, interest, taxes, insurance)
• Determine your down payment amount (3%, 5%, 10%, or 20%)
• Budget for closing costs (typically 2–5% of loan amount in Maryland)
• List must-haves vs. nice-to-haves (bedrooms, commute, school district)
• Research neighborhoods: Annapolis, Severna Park, Arnold, Pasadena, Glen Burnie
• Review loan program options with George (Conventional, FHA, VA, USDA)

A buyer's agent costs you nothing — their commission is paid by the seller. A good agent in Anne Arundel County knows which neighborhoods are moving fast.

• Interview 2–3 local buyer's agents
• Sign a buyer's representation agreement
• Set up MLS alerts for your target areas and price range
• Tour homes — bring your must-have checklist
• Note HOA fees, property taxes, and age of roof/HVAC on each home
• Keep George's pre-approval letter handy — agents need it before showing some listings

In the Annapolis market, well-priced homes move quickly. Be ready to act. Your agent writes the offer; George provides an updated pre-approval letter within hours if needed.

• Review comparable sales (comps) with your agent
• Decide on offer price, earnest money deposit (typically 1–2%), and contingencies
• Include financing, inspection, and appraisal contingencies
• Submit offer with pre-approval letter attached
• Negotiate if needed — counter-offers are normal
• Once accepted: sign the contract and pay earnest money deposit

After your offer is accepted, George submits your full loan application. You'll receive a Loan Estimate within 3 business days showing your rate, monthly payment, and closing costs.

• Complete full loan application with George (online or in person)
• Review and sign the Loan Estimate (LE)
• Lock your interest rate (discuss timing with George)
• Submit any additional documents requested by underwriting
• Do NOT change jobs, open new credit, or make large deposits during this period
• Respond to any underwriter conditions quickly — delays cost days

Two separate processes happen in parallel: the home inspection (your protection) and the appraisal (the lender's protection). Both must be completed before closing.

• Schedule home inspection within the contingency window (typically 7–10 days)
• Attend the inspection — ask questions, take notes
• Review inspection report and negotiate repairs or credits with seller
• Lender orders appraisal — you pay the appraisal fee upfront (~$500–$700)
• If appraisal comes in low: renegotiate price, pay the difference, or walk away
• Consider additional inspections: radon, sewer scope, chimney (older Annapolis homes)

"Clear to Close" (CTC) means underwriting has approved your loan. You'll receive a Closing Disclosure at least 3 business days before closing showing your final numbers.

• Receive and review Closing Disclosure (CD) — compare to your Loan Estimate
• Confirm closing date, time, and location with your agent and title company
• Wire closing funds or get a cashier's check (confirm exact amount with title)
• Purchase homeowner's insurance — lender requires proof before closing
• Do a final walk-through of the property (24–48 hours before closing)
• Bring valid government-issued photo ID to closing

Closing typically takes 1–2 hours. You'll sign a stack of documents, pay closing costs, and receive the keys to your new home.

• Bring: photo ID, cashier's check or wire confirmation, checkbook (for small adjustments)
• Sign loan documents, deed, and title paperwork
• Pay closing costs and down payment
• Receive keys — you're a homeowner!
• Change locks on your new home
• Set up automatic mortgage payments — first payment typically due 30–60 days after closing