purchase FAQ’s
The right time to buy a home depends on your financial readiness, lifestyle goals, and long-term plans — not just market conditions. Many buyers are ready when they have a stable income, manageable debt, and a clear understanding of what they can afford. Working with a loan advisor can help you evaluate your options, understand the homebuying process, and determine whether now or later makes the most sense for your situation.
Affordability is based on your income, debts, credit score, and loan type. Getting pre-approved is the fastest way to see your exact home price range.
Most loans require a score between 580–620, but some programs allow lower with compensating factors.
Common loan types include Conventional, FHA, VA, USDA, and Jumbo. The best one depends on your credit, goals, and down payment.
A pre-qualification is an early estimate. It is a quick, informal starting point.
A pre-approval is a stronger, more in-depth first step. It verifies your income, credit, and finances, making your offer more competitive.
You don’t always need 20%. Many buyers put 3–5% down, and VA/USDA loans can require 0% down.
