FAQs
Read most frequent questions
What the first step of the home buying process?
In real estate, the very first step is getting pre-approved for a mortgage. Pre-approval clarifies your budget, shows sellers you’re serious, and lets you focus on homes you can confidently afford.
How long does it take to buy a home?
In real estate, buying a home typically takes 30 to 60 days from offer to closing. Timelines vary based on financing, inspections, negotiations, and legal paperwork involved in the process.
What is a seller’s market?
In real estate, a seller’s market occurs when the number of buyers exceeds the available homes for sale, giving sellers leverage to set higher prices and receive faster, multiple offers.
What kind of credit score do I need to buy a home?
In real estate, a credit score of 620 or higher is typically needed to qualify for most conventional home loans. However, FHA loans may accept scores as low as 580, depending on the lender. A higher score improves loan terms and interest rates.
How much do I need for a down payment?
In real estate, down payments typically range from 3% to 20% of the home’s purchase price. First-time buyers may qualify for low down payment options, while 20% avoids private mortgage insurance (PMI).
What is earnest money?
In real estate, earnest money is a good-faith deposit buyers provide with an offer, held in escrow to show serious intent and applied toward closing.
