BUYING A HOME

why our clients

love us

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.

Heading

Date

frequently asked
questions

How does the purchase process work?

The purchase process begins with a pre-approval so you know how much you can borrow. Once you find a home, you make an offer and apply for the mortgage. From there, the lender reviews your finances, orders an appraisal, and works with you through closing.

Does my loan program type impact the type of house I can get?

Yes, certain programs have requirements for the property. For example, FHA loans often require homes to meet minimum safety standards, while VA loans may have specific appraisal rules. Your loan officer can guide you on which types of homes fit your program.

How much money do I need for a down payment?

Down payment requirements vary. Some programs allow as little as three percent down, while others may require more depending on your credit and financial situation. The larger your down payment, the smaller your loan balance and monthly payment.

Do I need to have a home inspection if I get an appraisal?

An appraisal looks at the home’s value for the lender, while an inspection focuses on the home’s condition for your benefit. Both are important—an inspection helps you understand repairs or issues before you buy, while the appraisal helps secure the loan.

Can I use gift funds for my down payment?

Many loan programs allow you to use gift funds from a family member to cover part or all of your down payment. Lenders may require a signed gift letter to confirm the money is not a loan. This can make buying a home more affordable for first-time buyers.

What is earnest money and how does it work?

Earnest money is a deposit you make when submitting an offer to show the seller you are serious. It is usually applied toward your closing costs or down payment at closing. If the deal falls through for a valid reason, you may be able to get it back.

How do closing costs affect my purchase?

Closing costs are fees for services like appraisal, title search, and lender processing. They usually range from two to five percent of the purchase price. Planning for these costs helps you avoid surprises when it is time to close.