First-home field guide · CASH
Separate purchase funds, moving costs and money you want to keep.
Use separate buckets for funds available now, purchase costs, moving expenses and money you intend to keep. Your down payment is only one part of the plan. Ask your lender and closing professional for transaction-specific estimates; the amount due at closing must come from the final instructions they verify with you. This workbook is for planning and questions, not payment instructions. Do not enter full account numbers or transfer money based on this guide.
Reference: CFPB homebuying guidance. Checked October 24, 2026. The exercises are original planning prompts; they are not lender rules.
| Item | Your figure / answer | Source / next action |
|---|---|---|
| Confirmed available purchase funds | ||
| Down payment estimate | ||
| Other purchase-cost estimate | ||
| Moving and setup costs | ||
| Money to retain after purchase | ||
| Unconfirmed funds kept separate |
My next decision:
One question to resolve, who can answer it, and follow-up date:
Planning for a purchase gets clearer when you separate the down payment from everything else. Otherwise a savings target can look complete while several expenses remain uncounted.
Try this: Make four buckets: down payment, other purchase costs, moving expenses and money to keep. Write an estimate or an owner for each unknown.
An account balance does not have to become a homebuying budget. Decide which money is available for the move and which money has another job.
Try this: List your savings by purpose without account numbers. Mark use for purchase, keep or discuss before deciding.
Boxes, transportation and time off can be easy to forget during mortgage planning. Give the move a budget of its own so it does not quietly consume your cushion.
Try this: List transportation, packing, storage, travel and time-off costs. Add quotes as you receive them and record which costs are optional.
A cash cushion is more useful when you know what it is protecting. Your household target may differ from any reserves a lender requires, so discuss both separately.
Try this: Name the situations your cushion should cover. Record your household target and ask Brooks whether the loan has a separate reserve requirement.
Before moving purchase money between accounts, ask what records your lender will need. Keeping a clear trail can be easier than reconstructing it later.
Try this: List planned transfers by source, destination and purpose using account nicknames only. Ask which statements or confirmations to retain.
If someone wants to help with the purchase, ask your lender about the proposed arrangement before the money moves. Do not assume every source or form of assistance fits every loan.
Try this: Write the proposed giver, relationship and whether repayment is expected. Ask Brooks what is allowed and what documentation is needed.
A running cash worksheet can accidentally count money when it leaves one account and again when it reaches another. Track totals by ownership and purpose rather than transaction volume.
Try this: Reconcile your available-funds total against current balances. Cross out internal transfers that were mistakenly counted as new savings.
A hoped-for credit is not money you can rely on yet. Keep requested concessions separate from agreed terms and ask your lender how they can apply.
Try this: Create requested, agreed and lender-confirmed columns for any proposed credit. Keep the cash plan viable while an item remains unconfirmed.
A program name does not establish that you qualify or that funds will be available. Treat assistance as something to investigate against your circumstances and purchase plans.
Try this: Record program name, official source, administrator, eligibility questions, deadlines and any repayment terms to clarify.
A target becomes easier to manage when it begins with money actually available today. Avoid including a hoped-for gift, refund or bonus until its status is clear.
Try this: Write confirmed purchase savings, your remaining target and a realistic monthly contribution. Put uncertain funds on a separate line.
Your current housing cost may continue while the new place is getting ready. Ask about the timing before assuming one payment simply replaces another.
Try this: Map your lease obligations and proposed possession date on one calendar. Add any overlap, storage or temporary housing to the cash plan.
An empty room can make every purchase feel urgent. Decide which items are needed immediately and which can wait until you understand your new routine.
Try this: Sort purchases into day one, first season and later. Give each category a separate spending limit.
A security-deposit return or reimbursement may arrive later than your move. Build a plan that distinguishes money in hand from money someone may owe you.
Try this: List expected refunds with the payer, expected date and amount still unconfirmed. Do not use them as the only funding source for an earlier bill.
A cash plan is easier to review when every number has a source and a date. Old figures can linger unnoticed as a property or loan plan changes.
Try this: Add date and source columns to purchase-cost estimates. Ask for updates where the property, timing or proposed loan has changed.
Two goals sharing one balance can create false confidence. Give each dollar one planned purpose so a purchase decision does not silently spend the emergency fund.
Try this: Split the available balance on paper into purchase funds and retained funds. Check that their sum does not exceed the actual balance.
Questions about deposits, lender charges, taxes and moving quotes may have different owners. Sending every question to everyone can delay a clear answer.
Try this: Create a question log with owner, document needed, due date and answer. Start with the largest unresolved cost.
When a proposal reduces cash needed now, ask what changes elsewhere. Compare the complete written terms before assuming the lower upfront amount is the better fit.
Try this: Ask for two written scenarios showing upfront funds, monthly payment and any changed terms. Record the reason you prefer one.
The cash plan should not end at signing. Create a short list of immediate expenses and decide how you will cover them without reopening the purchase budget.
Try this: List the first month’s expected home and moving expenses. Mark which are already included elsewhere to avoid double counting.
A different price range or move date can make an old savings target irrelevant. Update the inputs before judging whether you are ahead or behind.
Try this: Record the old and new purchase assumptions, then calculate the remaining savings gap using current confirmed funds.
Before relying on your worksheet, identify which amounts are personal preferences and which still need transaction-specific confirmation. A neat total is not a substitute for verified figures.
Try this: Review each bucket with Brooks and the appropriate closing professional. Mark confirmed, estimated or unresolved beside every purchase figure.
Bring the summary worksheet and the question you most want answered. You can be early in the process; a useful conversation starts with where you are.
Brooks Kelly · NMLS #208792
brooks@planethomelending.com · (214) 402-2647
@thebrookskelly on Instagram
General educational planning material, not a loan offer, commitment to lend, credit-repair service, or legal/tax advice. Eligibility, terms and availability depend on the actual transaction and applicable requirements. Ask qualified professionals about your circumstances.