FHA Home Loans and the First 30 Days After Closing
June 16, 2025
I just got the keys to my first house! What are the very first things I should do?
Change the locks on all exterior doors immediately. You don't know who has a copy of the old key. At the same time, recode the garage door opener and any other keypad entry systems.
Next, find your two most important emergency controls: the main water shutoff valve and the main electrical circuit breaker panel. Take a picture of them to find them quickly in an emergency.
Finally, every smoke and carbon monoxide detector in the house must be tested, and all the batteries must be replaced, regardless of whether they seem to be working.
Are there other practical tasks to consider before I start unpacking?
The best time to do a deep clean is when the house is completely empty. Scrub the inside of all cabinets and closets, wipe down baseboards, and thoroughly clean the bathrooms.
File a change of address with the post office and begin the process of updating your address with important accounts like banks, credit cards, your employer, and any subscription services.
My home inspection report looked pretty good. Should I still expect to find problems?
In the first month, you will become the new inspector. You can anticipate finding small but annoying issues. You may encounter a range of minor problems, such as a faucet with a slow drip or a window that’s been painted shut.
Keep a running list of these minor issues on your phone or in a dedicated notebook so you can track them and decide what to fix first.
What are classic "first-time homeowner" surprises I might encounter?
Prepare yourself for frequent trips to the hardware store; you'll quickly find that the small toolkit in your apartment isn't sufficient for a house, and you'll constantly need a specific tool or part for a small repair.
Some repairs require very specific tools, others may be of the hammer-or-screwdriver variety.
What should I budget for immediate move-in costs?
A non-emergency contingency fund is needed here, and a good target for this is between $500 and $1,500.
This money will go toward expenses like hiring a locksmith or buying the supplies to repaint a bedroom. In addition to saving money for minor repairs, cosmetic issues, and the like, don’t forget about feeding anyone who helps you move into your new home. Yes, you may need a pizza budget for move-in.
FHA Loan Articles
August 19, 2026Homebuyers who have enough cash for a down payment still need to consider their full financial picture before choosing between a conventional mortgage and an FHA loan. Having cash on hand changes the math for both options, but savings alone won't make a conventional loan the automatic winner. Credit scores, current debt, and the type of property you want to buy all determine which loan will cost less over time.
August 11, 2026Homeowners with FHA adjustable-rate loans need to track their loans more closely. That is because FHA ARM loans start with introductory interest rates that eventually expire and are subject to change afterwards based on market rates. When interest rates rise, monthly housing payments climb on ARM loans, pushing many homeowners to consider refinancing into a fixed-rate mortgage.
August 10, 2026If you want to buy a home with an FHA mortgage, you must set up an escrow account to cover property taxes, homeowner insurance, and upfront closing expenses. While the FHA loan program has rules for funding these accounts, buyers often do not realize those rules can include approved and unallowed sources for escrow funds. What do you need to know before you set up and fund your escrow account for an FHA mortgage?
August 3, 2026Buying a home in a high-cost area requires understanding how FHA loan limits shape your financing options. Does the house for sale have a price above the local FHA loan limit? You may need to explore your jumbo loan options. There are conventional jumbo loans and FHA versions. Which is right for you? Much depends on your financial needs, plans, and goals for the loan.
July 30, 2026There is a common misconception about FHA loans that only a first-time home buyer can use the program. This is not true; repeat buyers can qualify for an FHA loan, but why does this misconception exist? Partially because state and local programs have first-time buyer requirements for down payment and/or closing cost assistance programs. So while you do not need to be a first-time buyer to get an FHA loan, you may need to meet that definition to qualify for down payment help.
