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First-time homebuyer Southern Illinois? This 2026 guide walks you through the full home buying process step-by-step from pre-approval to closing. Serving Marion, Herrin, Carterville & beyond.
Buying Your First Home in Southern Illinois? Start Here.
Hi, I’m Amanda Goins, a local Southern Illinois Realtor. This guide will help you buy your first home in Marion with confidence.
Step 1: Get Pre-Approved
“Before you start touring homes, it helps to know what you can comfortably afford. A lender can review your income, credit, and debt to give you a pre-approval amount so you can shop confidently.”
- Proof of income (pay stubs/tax returns)
- Estimated down payment
- Credit score + monthly payment comfort zone
- Pre-approval letter from your lender
Step 2: Buyer Representation & Compensation
Before we begin touring homes, buyers sign a Buyer Brokerage Agreement.
This agreement outlines how I represent you, my fiduciary duties to you, and how compensation is structured.
This step happens before showings, before inspections, and before submitting an offer. It ensures you are fully represented and protected from the start.
In many cases, the seller may offer compensation to the buyer’s agent through the listing agreement. If compensation is not fully offered, we discuss it upfront so there are no surprises.
My role is to advocate for you, structure your offer strategically, and protect your interests throughout the transaction.
You will always understand what you are signing and how everything works.
Transparency matters.
Financial Preparation Before you Start Touring
In addition to lender approval, it’s important to be financially prepared for a few upfront costs that many buyers don’t realize exist.
Down Payment: What to Expect
Your down payment is the portion of the purchase price you pay upfront. The amount you’ll need depends on your loan type, credit profile, and overall financial picture.
Many buyers are surprised to learn you don’t always need 20% down.
Common ranges include:
3%–5% down with many conventional loan programs (often popular for first-time buyers)
5%–10% down depending on the loan type and qualification
Higher down payments if you want to reduce your loan amount or monthly payment
In some situations, buyers may also have the option to buy down their interest rate by paying points at closing. This means paying a little more upfront in exchange for a lower monthly payment over time.
Your lender can help you decide what makes the most sense based on your goals and budget.
Even if you qualify for a lower down payment, building savings ahead of time gives you flexibility and confidence throughout the process.
Closing Costs & Prepaids
In addition to your down payment, buyers should also plan for closing costs and prepaid expenses.
Closing costs typically range around 2%–3% of the purchase price, though this can vary depending on the loan type and transaction details.
These costs may include:
Lender fees
Title and settlement fees
Appraisal
Recording fees
Prepaid property taxes and homeowners insurance
The good news? Closing costs can sometimes be negotiated into the purchase contract.
Depending on market conditions and the strength of your offer, we may be able to request seller concessions to help offset some of these expenses.
This is where strategy matters.
Clear communication with me allows us to structure your offer in a way that protects your cash while still remaining competitive.
Earnest Money Deposit: What It Is and Why It Matters
Once your offer is accepted, you’ll submit an earnest money deposit.
In our Southern Illinois market, this is typically around 1% of the purchase price, though it can vary depending on the situation and how competitive the offer needs to be.
Earnest money shows the seller you’re serious about moving forward. It is not an extra fee — it is applied toward your purchase at closing.
This deposit is usually due within 24 hours after your offer is accepted, so it’s important to have these funds available and ready.
As your agent, I’ll guide you on how much is appropriate based on the property, the market conditions, and the strength of your offer.
Plan for Inspections
Once you’re under contract, you’ll have the opportunity to complete inspections on the home.
Buyers typically pay for inspections, so it’s important to budget for this upfront.
In our Southern Illinois market, we commonly recommend at minimum:
A general home inspection
A termite inspection
You should plan to have at least $500–$700 saved for these core inspections.
Additional inspections are available if the buyer desires or if something specific is noted during the general inspection. These may include:
Sewer scope
Specialized structural evaluation
Mold testing
Air quality testing
Radon testing
Not every property requires additional testing, but having the option gives you clarity and confidence.
Inspections are meant to inform you, not alarm you. No home is perfect. My role is to help you understand what’s typical, what’s negotiable, and what truly deserves attention.
The goal isn’t to panic — it’s to make informed decisions.
Step 3: Start Touring Homes
- Needs vs wants list
- Neighborhood preferences
- Tour schedule + timing
- Don’t skip the “boring” stuff (roof/HVAC/foundation)
Step 4: Make an Offer
Making an offer is where strategy matters. I’ll help you understand the home’s value, what terms make your offer stronger, and how to feel confident in what you’re signing, so you’re not guessing or overpaying.
- Review price + recent comps
- Decide on offer terms (closing date, contingencies, etc.)
- Earnest Money + what it means
- Negotiations (counteroffers, repairs, credits)
Step 5: Schedule Your Home Inspection
Once your offer is accepted, the inspection is your chance to learn what you’re really buying. I’ll help you understand the report, what’s normal vs. a red flag, and what options you have moving forward so you feel confident, not overwhelmed.
- Home inspection scheduled ASAP
- Review major systems (roof, HVAC, plumbing, electrical)
- Watch foundation/moisture issues
- Ask about the age of big-ticket items
- Decide what to request (repairs, credits, or price reduction)
Step 6: Appraisal + Underwriting
This is the stage where your lender is doing a deeper review of everything to make sure the loan is fully approved before closing. It can feel a little “behind the scenes,” but it’s a normal part of the process and I’ll help you stay on track.
What to expect during this step:
- Appraisal ordered by the lender
- Home value confirmed to match the purchase price
- Underwriting reviews your loan file (income, credit, assets and documents)
- You may be asked for a few extra items (pay stubs, bank statements, explanations, etc.)
- Final approval happens once all lender conditions are cleared
Tips to keep things moving smoothly:
- Respond quickly if your lender request anything
- Avoid opening new credit accounts or making big purchases
- Keep your finances steady until closing day
Step 7: Final walkthrough + Closing day
This is the home stretch! At this stage, everything is coming together and you’re getting ready to officially become a homeowner. I’ll help you stay organized so nothing feels rushed at the finish line.
What to expect during this step:
- Lender sends your closing Disclosure (CD) to review
- Your Loan is marked “Clear to Close” once everything is approved
- Final Walkthrough is usually done the day of closing (sometimes 24-48 hours before, depending on the situation)
- You’ll confirm the home is in the same condition and any repairs were completed
- Closing appointment is set with the title company
Tips to keep things moving smoothly:
- Review your closing Disclosure as soon as it arrives
- Don’t Change jobs, open credit, or make large purchases
- Plan for your funds needed to close (wire/cashiers check)
- Bring your ID and be ready to sign a stack of papers
Final walkthrough checklist:
- Test lights, outlets, faucets, toilets
- Run appliances if they stay
- Confirm repairs are done (if negotiated)
- Make sure the home is empty unless otherwise agreed
Step 8: Closing Day + Getting the Keys
This is the finish line! Closing day is when everything becomes official and you finally get the keys to your new home. It can feel like a lot of paperwork, but I’ll walk you through it so you feel confident the whole time.
What to expect during this step:
- Final Documents are signed at the title company
- Your Lender “funds” the loan (sends money to the title company)
- The deed is recorded with the county
- You’ll receive your keys once everything is completed
What you should bring:
- A valid photo ID
- Any funds needed for closing (usually cashiers check or wire, depending on the title company)
Tips to keep closing day stress-free
- Don’t schedule anything tight right after closing (give yourself extra time)
- Double-check wiring instructions directly with the title company
- Bring your questions, no question is to small
- Celebrate…you did it
You will officially be a homeowner by the end of this step!
Step 9: After Closing (Move-In + First Week Tips)
Once you get the keys, the home is officially yours! This step is all about getting settled, staying organized, and making sure your first few days as a homeowner feel exciting… not chaotic.
What to do right after closing:
- Save your closing documents somewhere safe (you might need them later)
- Confirm utilities are transferred into your name
- Set up mail forwarding USPS
- Change the Locks (or have them re-keyed) *optional but, gives peace of mind
- Update your address on important accounts (bank, employer, insurance, subscriptions, etc.)
Your first week home owner checklist:
- Test smoke detectors + replace batteries if needed
- Located the main water shut off and breaker box
- Change HVAC filters (if you’re not sure when they were last replaced)
- Clean out dryer vent + vents if needed
- Start a simple home maintenance folder (receipts, warranties, service contacts)
Tips to make moving in smoother:
- Unpack the essentials first (kitchen, bathrooms, bedding)
- Take “before” pictures before you paint or change anything (trust me…everyone loves a good before & after)
- Don’t feel pressured to do everything at once
- Prioritize safety + function first, then decor later
Final Thoughts
Buying your first home is a big deal, and it’s normal to have questions along the way. The good news is you don’t have to figure it out alone. With the right plan, the right team, and the right guidance, you can buy your first home in Marion , Il with confidence.
Need help getting started?
If you’re thinking about buying your first home, I’d love to help you take the next step. Whether you need a local lender recommendation, want to start touring homes, or just have a few questions, I’m here for you.
“Serving Marion, Herrin, Carterville & Southern Illinois”
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