No major changes

When you're considering buying your first home, it's important that you don't make any major changes in your life, such as quitting your job, opening or closing bank accounts, or opening new accounts at retail stores. This could make it difficult for you to get approved for the best possible mortgage rate and could adversely affect your credit score.

You also need to realize that the amount of money that goes into this process is substantial. Many buyers' agents provide homebuyers with a cost breakout sheet to consider all items you will need to start paying immediately. This will help prevent bounced checks, since many buyers fail to move money from savings to checking accounts.

The cost breakout sheet typically includes the loan application fee, appraisal, option fee, earnest money, home inspection, termite inspection, and cost of a survey. Each item will have a place for a check number, date the check was written, and the date check cleared. There should also be a place to initial when you pay each fee. (If your REALTOR® doesn't provide a sheet like this, you can easily create one yourself with your Realtor's assistance.) Your Texas REALTORS TIFFANY SHARKEY AND TONYA PEEK 214-356-4472 can help provide you with more information about the homebuying process in Texas and determine how much money you will need upfront, so there will no surprises later.