This checklist covers every stage of buying your first home in Albuquerque, Rio Rancho, and the surrounding metro area. Check off each item as you complete it.
For a deeper dive into any of these topics, read our Complete Guide to Buying a Home in Albuquerque or visit our first-time buyer resources page.
1
Before You Start
- Check your credit score — Aim for 620+ (conventional) or 580+ (FHA). Request a free report from AnnualCreditReport.com.
- Determine your budget — Use the 28% rule: your monthly housing payment should not exceed 28% of gross monthly income. Try our mortgage calculator.
- Save for down payment and closing costs — Down payments can be as low as 0% (VA/USDA) to 3.5% (FHA). Closing costs run 2% to 5% of the purchase price. Explore down payment assistance programs.
- Research neighborhoods — Explore all 11+ communities we serve, from Albuquerque to Rio Rancho, Corrales, Placitas, and beyond.
- Schedule a free buyer consultation — Book with Nysha or call 505-218-1851.
2
Get Pre-Approved
- Choose a lender — Nysha connects you with trusted local lenders who specialize in first-time buyer programs.
- Gather documents — Pay stubs, W-2s, tax returns, bank statements, and identification.
- Get pre-approved — A pre-approval letter shows sellers you are a serious buyer and gives you a clear budget.
- Compare loan programs — Conventional, FHA, VA, USDA, or down payment assistance. See our loan program guide.
3
House Hunting
- Define your must-haves — Location, size, bedrooms, lot size, school district, commute time.
- Set up a custom MLS search — Nysha creates a search that sends you new listings matching your criteria.
- Tour homes — Nysha previews properties and tours homes with you, pointing out details you might miss.
- Research schools — Check school assignments and ratings. Learn about schools in the metro area.
- Know what to look for — Read our home inspection red flags guide for New Mexico-specific concerns.
4
Make an Offer
- Review comparable sales — Nysha prepares a market analysis to determine fair value.
- Submit an offer — Nysha drafts a competitive offer with appropriate contingencies and timelines.
- Negotiate — Nysha negotiates on your behalf to reach the best terms. See how to win a bidding war.
- Deposit earnest money — Typically 1% to 3% of the purchase price, held in escrow.
- Sign the purchase agreement — Review all terms carefully with Nysha before signing.
5
Due Diligence & Inspection
- Schedule a home inspection — Essential for New Mexico homes with unique construction methods.
- Consider additional inspections — Radon testing, sewer scope, well water testing, termite inspection.
- Review inspection results — Nysha negotiates repairs or credits based on findings.
- Order appraisal — Your lender requires an appraisal to confirm the home's value.
- Review seller disclosures — Check for any known issues with the property.
- Verify homeowners insurance — Get quotes and secure a policy before closing.
- Review water rights documentation — If applicable. Learn about water rights.
6
Closing
- Review the Closing Disclosure — Nysha reviews it line by line with you at least 3 days before closing.
- Complete a final walkthrough — Confirm the property is in the agreed-upon condition.
- Bring identification and funds — Government-issued ID and certified or cashier's check for closing costs.
- Sign closing documents — Nysha walks you through every document before you sign.
- Receive the keys — Congratulations, you are a homeowner!
- Set up utilities and change of address — PNM, New Mexico Gas Company, city water, internet, USPS forwarding.
Downloadable Resource
Bookmark this page or print it out to track your progress. For a comprehensive PDF guide, download A Home Buyer's Guide.
Ready to get started? Schedule a free consultation with Nysha or call 505-218-1851.
Ready to Begin?
