Top Buyer Questions

The best way to determine your budget is by speaking with a lender and getting pre-approved before you start shopping. Most lenders look at your income, debt, credit score, and down payment to determine your buying power. A pre-approval also makes your offer stronger when you find the right home.

Many buyers think they need 20% down, but that’s not always true. Loan programs today can allow buyers to purchase with as little as 3% down, and some VA or USDA loans may require no down payment at all. Your exact amount depends on the loan type and your financial situation.

Most lenders prefer a score of at least 620 for conventional financing, but there are programs available for buyers with lower scores as well. A higher credit score can help you qualify for better interest rates and lower monthly payments.

Yes — getting pre-approved is one of the smartest first steps. It helps you understand your budget, gives sellers confidence in your offer, and allows you to move quickly when the right property hits the market.

Closing costs are additional expenses involved in purchasing a home. These may include lender fees, title fees, insurance, taxes, and attorney or escrow fees. Typically, buyers should budget around 2–5% of the purchase price for closing costs.

From accepted offer to closing, most transactions take about 30–45 days. However, the timeline can vary depending on financing, inspections, negotiations, and the type of property being purchased.

Pre-qualification is a quick estimate based on information you provide to a lender. Pre-approval is more detailed and involves verifying your finances and credit. Sellers take pre-approvals much more seriously when reviewing offers.

The “right time” to buy depends on your goals, finances, and lifestyle. Waiting for perfect market conditions can sometimes cost buyers more in rising prices or missed opportunities. The best approach is to evaluate your situation and make a plan that works for you long-term.

A home inspection is when a licensed inspector evaluates the condition of the property, including the roof, HVAC, plumbing, electrical systems, and more. Inspections help buyers understand the home’s condition and can uncover issues before closing.

A real estate agent helps guide you through the process, negotiate on your behalf, explain contracts, coordinate inspections, and help you avoid costly mistakes. Having a trusted local expert can make the buying experience smoother, less stressful, and more successful.