Hi

It starts with your budget, not the price tag. A lender looks at your income, monthly debts, down payment, and credit to set a comfortable price range, and we look at the full monthly cost so the number holds up in real life. Get pre-approved first and you will shop with a real range instead of a guess.

Less than most people think. Conventional loans can go as low as 3 percent down, FHA is 3.5 percent, and VA and USDA loans can be zero down if you qualify. Twenty percent is not required. Your lender can show you what each option costs so you can weigh a lower down payment against a higher monthly payment.

Closing costs are the one-time fees to finalize the loan and transfer the home. They include lender fees, title, the appraisal, taxes, and prepaids like insurance. Plan for roughly 2 to 5 percent of the price. Some of it can be covered by a seller concession we negotiate for you, so ask before you assume it all comes out of pocket.

Pre-qualified is a quick estimate based on what you tell the lender. Pre-approved means the lender verified your income, credit, and assets and put it in writing. Sellers take a pre-approval seriously, so it is the one worth having before you tour homes.

There is no single magic number. FHA loans often start around a 580 score for the low down payment, and many conventional loans look for 620 or higher, but the higher your score, the better your rate. If your score is not where you want it, a good lender will give you a short list of moves to raise it, and we can time the search around that.

It depends on your down payment, your credit, and how long you plan to stay. FHA is friendly to lower credit and lower down payments, conventional rewards stronger credit, and VA and USDA can be zero down for those who qualify. We will connect you with a lender who lays the options side by side so you can see the real monthly difference.

No. Twenty percent lets you skip mortgage insurance, but plenty of buyers put down 3 to 5 percent and still buy a great home. The tradeoff is a monthly mortgage insurance premium until you build enough equity. We will run both so you can decide what fits your cash and your timeline.

PMI is private mortgage insurance, added to your payment on a conventional loan when you put down less than 20 percent. It protects the lender, not you. On a conventional loan you can usually request it be removed once you reach about 20 percent equity, and it drops off automatically at 22 percent. FHA loans handle this differently, so ask your lender how it works for your specific loan.

Earnest money is a good-faith deposit you put up when your offer is accepted, usually held in a trust account, and it gets applied to your down payment or closing costs at the end. If you cancel for a reason your contract protects, like a failed inspection or financing within the agreed windows, you generally get it back. If you walk for a reason outside those windows, you can lose it, which is why we watch every deadline for you.

Our fee is agreed to in writing up front, so there are no surprises. In many deals the seller offers to cover it through the negotiation, and in others it is paid separately. Either way, you will know the number before we ever write an offer, and we will always tell you straight how it is being handled on your deal.