The Complete Guide to Buying a Home in Medford, Oregon

Buying a home in Medford, Oregon is an exciting journey — and one that goes more smoothly when you understand the process from start to finish. This guide walks you through every major step, from deciding you're ready to buy to getting the keys to your new home.

Step 1: Assess Your Financial Readiness

Before you start looking at homes, take stock of your financial situation:

• Credit score: Check your credit at AnnualCreditReport.com. Aim for 680+ for the best conventional rates.
• Savings: You'll need funds for a down payment (3%–20% of purchase price) plus closing costs (typically 2%–5%)
• Debt: Calculate your monthly debt payments — this affects how much you can borrow
• Income stability: Lenders want to see 2 years of stable employment history

Step 2: Get Pre-Approved

Getting pre-approved before you start shopping is essential in Medford's competitive market. A pre-approval letter shows sellers you're serious and tells you exactly what you can afford. Work with Stephen Harris to get pre-approved quickly and understand all your loan options.

Step 3: Find a Real Estate Agent

A buyer's agent represents your interests in the transaction at no cost to you (the seller typically pays agent commissions). Choose an agent who knows the Medford market well.

Step 4: Start Your Home Search

The Medford area offers a range of neighborhoods and price points:

• North Medford: Newer developments, family-friendly, higher price points
• South Medford: Mix of established and newer neighborhoods
• East Medford: More affordable, good access to Bear Creek Greenway
• Downtown/Central: Walkable, character homes, mixed price range
• Surrounding areas: Central Point (more affordable), White City, Eagle Point

Step 5: Make an Offer

When you find the right home, your agent will help you craft a competitive offer. Key elements include:

• Purchase price
• Earnest money deposit (typically 1%–2% of purchase price)
• Contingencies (inspection, financing, appraisal)
• Closing date

Step 6: Under Contract — Due Diligence

Once your offer is accepted, you'll have a due diligence period to:

• Complete a home inspection — always recommended
• Order an appraisal — your lender will arrange this
• Review title and HOA documents if applicable
• Finalize your loan — submit final documents to your lender

Step 7: Closing Day

Closing typically takes place 30–45 days after your offer is accepted. You'll:

• Sign loan documents
• Pay closing costs and down payment
• Receive the keys to your new home

Not a commitment to lend. Process timelines may vary.