October 30, 2026
Your 2027 Homebuying Checklist: 10 Steps to Get Ready for a New Home
By Angela Poirier, Chief Loan Specialist, Peoples Trust Company
Buying a home is exciting. It can also feel like there are a hundred things you’re supposed to know before you even start looking.
The good news. You don’t need to have everything figured out before talking with a lender.
Whether you’re hoping to buy your first home in 2027, need more room for a growing household, or are simply ready for something different, a little preparation can make the process much easier. Here is a checklist I recommend using as you get started.
☐ 1. Start with your monthly budget
Before scrolling through listings and falling in love with a house, look at what you’re comfortable spending each month.
Remember that your total housing expense can include more than your mortgage principal and interest. Depending on the property and your loan, you'll also need to account for expenses such as property taxes, homeowners insurance, mortgage insurance, utilities, maintenance, and potentially association fees.
The important number isn't simply the maximum amount you might qualify to borrow. It's a monthly payment that works comfortably with the rest of your life.
☐ 2. Take a look at your credit
Your credit history can affect the financing options and terms available to you.
Review your credit reports for accuracy and talk with a lender before making significant financial changes. Opening or closing credit accounts, financing a vehicle, or taking on additional debt before buying a home can affect your loan application.
And don't assume your credit needs to be perfect before speaking with someone. A lender can help you understand where you stand and what your options may be.
☐ 3. Think beyond the down payment
The down payment gets a lot of attention, but it's not the only upfront expense associated with buying a home.
Depending on your situation, you may need funds for closing costs, inspections, moving expenses and other costs. You'll also want some savings left over after closing for the inevitable expenses that come with a new home.
Ask your lender to walk you through the potential costs early so you can build a more realistic savings goal.
☐ 4. Gather your paperwork
Getting organized now can make the mortgage process smoother later.
Your lender may request items such as:
Every borrower's situation is different, so your lender can give you a specific list based on the mortgage you're considering.
☐ 5. Talk with a lender before you start seriously shopping
This is one of the biggest pieces of advice I give prospective homebuyers.
You don't have to wait until you've found the house to start talking about financing. An early conversation can help you understand how much you may be able to borrow, what payment range makes sense, and which financing options may fit your circumstances.
At Peoples Trust Company, you'll have a local lending team available to answer questions throughout the process. Our residential lending, underwriting, processing and servicing are handled in-house, helping provide local efficiency and fewer handoffs.
☐ 6. Get prequalified or preapproved when you're ready
Once you're serious about shopping, ask your lender about the appropriate next step for your situation.
Having your financing preparation underway can give you a clearer price range and help you approach the home search with more confidence. Your lender can also explain what documentation is needed and what a prequalification or preapproval does and does not mean.
☐ 7. Make your “must-have” and “nice-to-have” lists
This is the fun part, but it's worth being realistic.
Think about:
In northwestern Vermont, two homes with similar prices can come with very different properties, taxes, maintenance needs and commuting considerations. Look at the whole picture, not just the listing price.
☐ 8. Build your homebuying team
A home purchase typically involves more people than just you and your lender. Depending on your transaction, your team may include a real estate professional, attorney, home inspector and insurance professional.
Ask questions when something isn't clear. Buying a home is too important to feel uncomfortable for speaking up.
☐ 9. Keep your finances steady while your loan is in process
Once you've applied for a mortgage, avoid making major financial moves without first discussing their potential impact with your lender.
That includes taking on new debt, opening new credit accounts, making unusually large purchases, changing jobs or moving substantial amounts of money between accounts.
A seemingly unrelated financial decision can affect your mortgage qualification or documentation requirements.
☐ 10. Ask questions. Lots of them.
What's the difference between loan options? What happens after my offer is accepted? When does an appraisal happen? What should I expect at closing?
Ask.
There aren't “bad” questions when you're making one of life's largest financial decisions. One of the advantages of working with a local lender is having a person you can contact when you need an explanation, an update, or simply reassurance about what's happening next.
Ready for 2027. Start with a conversation.
You don't need a signed purchase agreement or even a specific house in mind to begin preparing.
If buying a home is one of your goals for 2027, a conversation with a Peoples Trust Company residential lender can help you understand where you stand today and what your next steps could look like.
Here’s a link to my residential lending team at Peoples Trust Company.
https://www.ptcvt.com/lending/mortgage-center/#mortgage-lenders
Peoples Trust Company | The Bank with a Heart
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