Buying a home is an exciting journey, but it often comes with questions. Our F.A.Q. page is here to make the process clearer and more manageable. Whether you’re wondering how to secure a loan, how to budget for your dream home, or when the right time to buy or sell might be, we’ve got you covered.
If you don’t have enough money to buy a house outright, you’ll need a loan. The first step is to get pre-approved. A Mortgage Loan Officer (MLO) will help by looking at your income, credit, and something called your Debt-to-Income (D.T.I.) ratio. To do this, they’ll need a few documents: your last 2 tax returns, 2 months of bank statements, and your last 4 pay stubs.
Getting pre-approved is free and doesn’t hurt your credit much, so you can check with more than one MLO.
Once you’re pre-approved and know how much you can afford, the fun part begins—finding your new home!
The amount of money you need for a down payment depends on the type of loan program you qualify for, like Conventional, FHA, VA, or USDA. Some programs, like VA and USDA, don’t need any money down, while others need at least 3% or 3.5%. The more money you can put down, the better your loan terms will be.
The opportune moment to buy or sell your home is when you feel prepared. This significant decision demands careful consideration, often prompted by life-altering events like a growing family, career shift, or downsizing. Our mission is to facilitate a seamless transition, allowing you to concentrate on life's other priorities. Remember, the timing of real estate transactions is yours to determine, unaffected by outside influence. Trust your instincts and make the choice that feels right for you.
Real Estate Agents operate on commission, earning their pay upon successful deal closures. Commission rates are negotiable and typically falling between 4-6% depending on factors like property type and location.