10 Steps to Prepare for Tucson Homeownership

1. Decide how much home you can afford. Generally, you can afford a home in Tucson equal in value to between 2 and 3 times your gross income.

2. Develop a wish list of what you’d like your home to have in your Tucson home. Then prioritize the features on your list.

3. Select three or four Tucson neighborhoods you’d like to live in. Consider items such as schools, recreational facilities, area expansion plans, and safety.

4. Determine if you have enough saved to cover your down payment and closing costs for your Tucson home. Closing costs, including taxes, attorney’s fee, and transfer fees average between 2 and 7 percent of the home price.

5. Get your credit in order. Obtain a copy of your credit report.

6. Determine how large a mortgage you can qualify for in Tucson. Also explore different loans options and decide what’s best for you.

7. Organize all the documentation a lender will need to pre-approve you for a loan.

8. Do research to determine if you qualify for any special mortgage or down payment assistance programs.

9. Calculate the costs of homeownership in Tucson, including property taxes, insurance, maintenance, and association fees, if applicable.

10. Find an experienced Tucson REALTOR® who can help you through the process.