First Time Home Buyers

First-Time Homebuyer Guide for Northwest Connecticut

Buying your first home is exciting—but it can also feel like a lot. My goal with this guide is to walk you through the process step by step, the way I do with first-time buyers in Goshen, Waterbury, Litchfield, Torrington, and across Northwest Connecticut.

This is general information for Connecticut buyers. It isn’t legal or financial advice—always confirm details with your lender, attorney, and tax professional.

Step 1: Get Clear on Your Budget and Timeline

Before you look at houses, it helps to answer a few basics:

• How much do you feel comfortable spending per month?

• How soon do you want to move?

• Do you have money set aside for a down payment and closing costs?

In Connecticut, buyers typically need funds not only for the down payment but also for closing costs, which can include lender fees, attorney fees, title work, prepaid taxes and insurance, and more. A good lender can give you an estimate early on so there are no surprises later.

Step 2: Check Your Credit and Get Pre-Approved

Before we start touring homes, it’s smart to:

• Check your credit and make sure there are no errors or surprises.

• Talk with a lender about what price range makes sense for your budget.

A pre-approval letter from a lender:

• Shows you roughly what price range you can shop in.

• Helps you understand your monthly payment.

• Shows sellers that you’re serious and qualified.

I’m happy to connect you with lenders who regularly work with first-time buyers in Northwest Connecticut.

Step 3: Explore Connecticut First-Time Homebuyer Programs

Connecticut offers several programs that can help first-time buyers with interest rates, down payments, and closing costs. A few examples include:

• Special first-time homebuyer mortgage programs through the Connecticut Housing Finance Authority (CHFA).

• Down payment and closing cost assistance programs that work alongside a first mortgage.

• Bank and credit union programs designed for first-time buyers, sometimes with education courses and credits at closing.

These programs change over time, so it’s important to check current details with a lender or directly on the program websites.

Step 4: Choose Your Team – REALTOR® and Attorney

In Connecticut, your homebuying team usually includes:

• A local real estate agent (buyer’s agent).

• A Connecticut real estate attorney.

• A lender.

What I do for first-time buyers:

• Explain the process from start to finish in plain language.

• Help you choose towns and neighborhoods that fit your budget and lifestyle.

• Watch the market and set up custom searches for homes that match your criteria.

• Write and negotiate offers on your behalf.

• Help coordinate your inspection, attorney, and lender so everyone stays on track.

Your attorney will:

• Review and explain the purchase contract.

• Handle the title search and many of the legal documents.

• Represent your interests at closing.

Step 5: Start Your Home Search

Once you’re pre-approved and we’ve talked through your goals, we:

• Make a wish list (bedrooms, bathrooms, yard, commute, lifestyle).

• Choose a few focus towns in Northwest Connecticut and Litchfield County.

• Set up a custom home search so you see new listings as soon as they come on the market.

As we tour homes, I’ll help you:

• Understand pros and cons of each property.

• Spot possible red flags or upcoming maintenance.

• Compare homes so you can make clear decisions.

Step 6: Make an Offer and Negotiate

When you find a home you love, we’ll put together an offer that usually includes:

• Your offer price.

• Your earnest money deposit.

• Your financing type (for example: CHFA, conventional, FHA, VA).

• Contingencies such as inspection, financing, and appraisal.

• Your preferred closing date.

I’ll walk you through what’s typical in our local market and help you write a strong, fair offer based on the property, the competition, and your comfort level.

If the seller counters, we’ll talk through the options and decide how you want to respond.

Step 7: Inspections, Appraisal, and Due Diligence

Once your offer is accepted, we move into the “under contract” phase. This usually includes:

• Home inspection – You hire a licensed home inspector to evaluate the property. You’ll receive a report outlining conditions and potential issues. Based on that report, we may request repairs, credits, or in some cases decide not to move forward if your contract allows.

• Appraisal – Your lender orders an appraisal to make sure the home’s value supports the loan amount. If the appraisal comes in lower than the purchase price, we’ll talk through your options.

• Attorney and title work – Your attorney reviews documents, checks title, and helps make sure everything is in order for closing.

Some first-time buyer programs also require you to complete a homebuyer education course, which can be helpful even if it’s not required.

Step 8: Final Loan Approval and Closing

As you get closer to closing, you’ll work with your lender to:

• Provide any final documents they need.

• Choose a homeowners insurance policy.

• Review your closing disclosure, which outlines your final loan terms and your total cash to close.

On closing day in Connecticut, you’ll typically meet with your attorney (and sometimes the seller’s side as well) to sign the final documents. Once everything is signed, funds are distributed, and the deed is recorded, you get the keys to your new home.

Step 9: Move In and Plan for Life as a Homeowner

After closing, it’s time to move in—and also to plan for ongoing costs such as:

• Property taxes.

• Homeowners insurance.

• Utilities.

• Routine maintenance and occasional repairs.

Many first-time buyers find it helpful to set aside a small amount each month for a home maintenance and emergency fund so surprise repairs don’t become financial emergencies.

Even after closing, I’m still here as a resource. If you need contractor suggestions, local recommendations, or have questions about the market, you can always reach out.

Quick First-Time Homebuyer Checklist

You can use this as a quick reference:

• Check your credit and overall budget.

• Talk to a lender and get pre-approved.

• Ask about Connecticut first-time homebuyer and down payment assistance programs.

• Choose your REALTOR® and Connecticut real estate attorney.

• Decide on your target towns and must-haves.

• Tour homes and compare options.

• Make an offer with clear contingencies.

• Complete inspection, appraisal, and title work.

• Review your closing disclosure and bring funds to close.

• Get the keys and enjoy your new home.

Ready to Talk About Buying Your First Home?

If you’re thinking about buying your first home in Northwest Connecticut or Litchfield County, I’d be happy to walk you through the process in more detail, answer questions, and help you build a plan that fits your budget and timeline.

Call or text me at (203) 509-1656 or email mikeb@allcthomes.com to get started.

Helpful Links for Connecticut Homebuyers

Connecticut-specific links

• Connecticut Housing Finance Authority (CHFA) – Homebuyers
  https://www.chfa.org/homebuyers/
  Main portal for CHFA first-time buyer info, programs, and resources. Connecticut Housing Finance Authority

• CHFA First-Time Homebuyer Guide
  https://www.chfa.org/homebuyers/chfa-first-time-homebuyer-guide/
  Step-by-step guide to buying a home in CT using CHFA financing. Connecticut Housing Finance Authority

• CHFA – All Homebuyer Mortgage Programs
  https://www.chfa.org/homebuyers/all-homebuyer-mortgage-programs/
  Overview of all CHFA mortgage options for first-time buyers and others. Connecticut Housing Finance Authority

• CHFA Down Payment Assistance Program (DAP)
  https://www.chfa.org/homebuyers-homeowners/homebuyers/downpayment-assistance-program-dap-loan/
  Details on CHFA’s low-interest down payment and closing cost assistance loans. Connecticut Housing Finance Authority+1

• CHFA “Time To Own” – Forgivable Down Payment Assistance
  https://www.chfa.org/homebuyers-homeowners/homebuyers/time-to-own-down-payment-assistance-program-loan/
  Info on CT’s forgivable down payment and closing cost assistance program for eligible first-time buyers. Connecticut Housing Finance Authority+1

• CHFA Homebuyer Education Classes
  https://www.chfa.org/homebuyers/homebuyer-education/
  Free/low-cost classes that walk you through budgeting, the buying process, and long-term homeownership. Connecticut Housing Finance Authority

• HUD-Approved Housing Counseling Agencies in Connecticut
  https://apps.hud.gov/offices/hsg/sfh/hcc/hcs_print.cfm?searchstate=ct&webListAction=search
  List of HUD-approved agencies in CT that offer homebuyer counseling and education. HUD Apps+1

• Connecticut Department of Banking – Mortgage Consumer Info
  https://portal.ct.gov/DOB/Consumer/Consumer-Education/What-To-Know-When-Shopping-For-A-Mortgage
  Guidance on choosing licensed lenders and understanding CT mortgage rules and protections. CT.gov+1

• Connecticut Bar Association – Find a Lawyer / Real Estate Specialist
  https://www.ctbar.org/public
  Public “Find a Lawyer” tools, including Residential Real Estate Specialists for CT closings. Default+1

• 2-1-1 CT – First-Time Homebuyer Programs in Connecticut
  https://uwc.211ct.org/first-time-homebuyer-programs-in-connecticut/
  Overview of various first-time homebuyer and assistance programs available across the state. United Way of Connecticut

National tools your buyers might like

• CFPB – “Owning a Home” Tools and Resources
  https://www.consumerfinance.gov/owning-a-home/
  Federal Consumer Financial Protection Bureau tools for comparing loans, understanding closing costs, and planning your purchase. consumerfinance.gov

• CFPB – “Your Home Loan Toolkit” Booklet (PDF)
  https://www.consumerfinance.gov/owning-a-home/explore/home-loan-toolkit/
  Downloadable booklet that walks buyers through choosing a mortgage, closing, and staying on track as a homeowner. consumerfinance.gov+1