Frequently Asked Question
Find quick answers to questions about buying, selling, and financing real estate.
How much money do I need for a down payment?
Down payments typically range from 3% to 20% of the home's purchase price, depending on the loan type and lender. Some government-backed loans may require even less, and first-time buyers may qualify for assistance programs.
What is the difference between pre-qualification and pre-approval?
Pre-qualification is an estimate of how much you may be able to borrow, based on self-reported financial information. Pre-approval is a formal offer from a lender after reviewing your credit, income, and financial documents. Pre-approval carries more weight when making an offer.
Should I get a home inspection before buying?
Yes, a home inspection is highly recommended. It helps identify potential issues with the property's structure, systems, or safety before you commit. This can save you from costly surprises and provide leverage in negotiations.
What are closing costs, and who pays them?
Closing costs include fees for the loan, appraisal, title insurance, and other services—usually totaling 2% to 5% of the home’s price. Both buyers and sellers may pay portions of these costs, depending on the agreement.
How long does the home buying process take?
On average, it takes 30 to 45 days from the time your offer is accepted to closing. The timeline can vary based on financing, inspections, negotiations, and paperwork processing.
How much money do I need for a down payment?
Down payments typically range from 3% to 20% of the home's purchase price, depending on the loan type and lender. Some government-backed loans may require even less, and first-time buyers may qualify for assistance programs.
What is the difference between pre-qualification and pre-approval?
Pre-qualification is an estimate of how much you may be able to borrow, based on self-reported financial information. Pre-approval is a formal offer from a lender after reviewing your credit, income, and financial documents. Pre-approval carries more weight when making an offer.
Should I get a home inspection before buying?
Yes, a home inspection is highly recommended. It helps identify potential issues with the property's structure, systems, or safety before you commit. This can save you from costly surprises and provide leverage in negotiations.
What are closing costs, and who pays them?
Closing costs include fees for the loan, appraisal, title insurance, and other services—usually totaling 2% to 5% of the home’s price. Both buyers and sellers may pay portions of these costs, depending on the agreement.
How long does the home buying process take?
On average, it takes 30 to 45 days from the time your offer is accepted to closing. The timeline can vary based on financing, inspections, negotiations, and paperwork processing.
How much money do I need for a down payment?
Down payments typically range from 3% to 20% of the home's purchase price, depending on the loan type and lender. Some government-backed loans may require even less, and first-time buyers may qualify for assistance programs.
What is the difference between pre-qualification and pre-approval?
Pre-qualification is an estimate of how much you may be able to borrow, based on self-reported financial information. Pre-approval is a formal offer from a lender after reviewing your credit, income, and financial documents. Pre-approval carries more weight when making an offer.
Should I get a home inspection before buying?
Yes, a home inspection is highly recommended. It helps identify potential issues with the property's structure, systems, or safety before you commit. This can save you from costly surprises and provide leverage in negotiations.
What are closing costs, and who pays them?
Closing costs include fees for the loan, appraisal, title insurance, and other services—usually totaling 2% to 5% of the home’s price. Both buyers and sellers may pay portions of these costs, depending on the agreement.
How long does the home buying process take?
On average, it takes 30 to 45 days from the time your offer is accepted to closing. The timeline can vary based on financing, inspections, negotiations, and paperwork processing.
Got questions? Get in touch
Got questions? Get in touch