It depends on the type of loan and your financial situation. While 20% is a common benchmark, many buyers put down less. Some conventional loans allow as little as 3%, and FHA loans require 3.5%. There are also down payment assistance programs worth asking about.

Pre-qualification is a quick estimate based on what you tell a lender. Pre-approval means the lender has actually reviewed your income, assets, and credit. Sellers take pre-approved offers much more seriously, so that's the one you want before we start touring.

Generally, the higher your score, the lower your rate and monthly payment. Even a small bump in your score can save real money over the life of a loan. If your credit needs some work, I can connect you with a lender who will give you a game plan.

Closing costs cover things like lender fees, the appraisal, title insurance, attorney fees, and prepaid taxes and insurance. They often run a few percent of the loan amount. Sometimes we can negotiate for the seller to cover part of them.

Once you're under contract, closing usually takes about 30 to 45 days. The search before that depends on the market and what you're looking for, and that's ok!

Yes. Lenders will usually want to see about two years of tax returns to verify your income. Talking with a lender early helps you know exactly what to gather.

Usually principal, interest, property taxes, and homeowners insurance. If you put less than 20% down on a conventional loan, mortgage insurance is included too. HOA dues are paid separately.

Your interest rate is temporarily reduced: 2% lower the first year, 1% lower the second, then your regular rate from year three on. It's paid for upfront, which makes those first two years more affordable.

It can be any of them. Most often the seller pays for it as a concession to help the buyer, but builders, lenders, and buyers can fund one too. It's something we can ask for in an offer.