First-time homebuyer center
Buying your first home, explained properly
Nobody is born knowing how this works. Melissa will walk you through it at your pace, answer the same question twice if you want, and never make you feel behind.
Step by step
From first question to closing day
This is the whole path. You do not need to understand all of it today — but it helps to know what's coming.
Step 01
Where to begin
Before touring anything, get a rough picture of your budget and timeline. One conversation with Melissa and one with a lender will tell you more than a month of browsing listings.
Step 02
Preapproval
A lender reviews your income, debts and credit and issues a conditional commitment. It tells you what you can actually borrow and makes your offer credible. Prequalification is not the same thing.
Step 03
Price versus monthly payment
Your payment includes principal, interest, property taxes, homeowners insurance, possibly mortgage insurance and any HOA dues. Two homes at the same price can have meaningfully different monthly costs.
Step 04
Down payment
Twenty percent is not a requirement for most buyers. Lower down payment programs exist, usually with mortgage insurance attached. What matters is the combination of payment, reserves and long-term plan — not hitting a round number.
Step 05
Earnest money
A good-faith deposit held by escrow once your offer is accepted. It is credited toward your purchase at closing, and it can be at risk if you cancel outside the contract's terms.
Step 06
Inspections
A general inspection plus, where warranted, specialists: roof, sewer scope, septic, well, structural. In Northern Arizona, roof condition, heating, insulation and water systems deserve particular attention.
Step 07
The inspection period & BINSR
Arizona contracts give you a negotiated window to investigate. The BINSR is the form you use to accept the property, request corrections or disapprove items — and the seller's response follows. The deadlines are firm.
Step 08
Appraisal
Your lender orders an appraisal to confirm the property supports the loan. If it comes in low, that gap has to be addressed by the parties, and your contract terms govern your options.
Step 09
Closing costs
Lender fees, title and escrow charges, recording, prorated taxes and prepaid insurance. Your lender provides an estimate early and an updated disclosure before closing — read both.
Step 10
Final walkthrough
Shortly before closing you confirm the property's condition and that agreed repairs were done. Bring the BINSR and the receipts.
Step 11
Closing day
You sign, funds are disbursed, the deed records and the property is yours. Timing of possession and key delivery is set by the contract.
Questions first-time buyers actually ask
- How much do I need for a down payment in Arizona?
- It depends on the loan program and your circumstances. Several programs allow well under twenty percent, usually with mortgage insurance. A lender can give you exact figures for your situation in a single conversation.
- Does it cost me anything to work with Melissa as a buyer?
- Buyer representation and compensation are agreed in writing at the outset, and the arrangement varies by transaction. Melissa will explain exactly how it works for your purchase before you sign anything.
- What credit score do I need?
- Requirements vary by loan program and lender. Rather than guessing, get a preapproval conversation started — it is free, and it replaces speculation with a number.
- How long does buying a home take?
- From accepted offer to closing is commonly around thirty to forty-five days with financing, though it varies. The search itself takes as long as it takes.
- Is it a bad time to buy?
- That depends on your situation rather than a headline — how long you plan to stay, your payment comfort and your alternatives. Melissa will give you a straight answer about your specific case, including when the answer is 'wait'.
Buying in Flagstaff specifically
At 7,000 feet, a few things matter more here than elsewhere: roof condition and snow load, heating systems and insulation, pipe protection, driveway grade and winter access, and whether a property is on city water and sewer or a private well and septic. None of it is alarming — it just belongs on your list.
Information on this site is general in nature and is not legal, tax, financial or lending advice. Melissa Smets is a licensed REALTOR® and is not an attorney. Consult an appropriate professional regarding your specific situation.
First home
Start wherever you are
Whether you're preapproved or just curious whether this is possible yet, the first conversation is the same — and it's free.