Get Your Ultimate Buyer's Guide!

Your affordability depends on factors like your income, savings, debts, and expenses. A lender can help determine your maximum loan amount based on these factors.  I can assist in finding a lender if you don't have one already, making the home search process  

Pre-qualification is an estimate of how much you may be able to borrow based on basic financial information. Pre-approval involves a more thorough review of your finances by a lender, providing a conditional commitment for a specific loan amount.

Down payment requirements vary depending on the type of loan and lender. Typically, down payments range from 3% to 20% of the purchase price.

Earnest money is a deposit made to the seller to show your commitment to buying the home. The amount varies but is typically 1-3% of the purchase price.

This depends on your preferences, budget, and needs. New homes offer modern features and customization options, while existing homes may have more character and established neighborhoods.

The home buying process can vary but typically takes 30-45 days from offer acceptance to closing. However, factors like financing, inspections, and negotiations can affect the timeline.

 While not required, a real estate agent can provide valuable expertise, guidance, and negotiation skills throughout the home buying process. 

In addition to the down payment, buyers should budget for closing costs, which include fees for appraisal, inspection, title insurance, and lender charges.

A home inspection is a thorough evaluation of the property's condition. An inspector will assess the structure, systems, and components of the home and provide a detailed report of any issues found.

Depending on the contract terms, you may have options to back out of the purchase, such as contingencies for financing or home inspection. However, backing out without a valid reason could result in losing your earnest money.