If you're financing, speak with a financial advisor or mortgage lender before you start shopping.

This will give you a better understanding of:

✔️ How much home you may qualify to purchase
✔️ Your estimated monthly payment
✔️ Your expected down payment and closing costs
✔️ Available loan programs
✔️ Down payment assistance programs and grants you may qualify for
✔️ Financial tools that can help make homeownership more affordable

Many buyers begin by browsing homes online, but understanding your financing options first can save time and help you shop with confidence.

Knowing your numbers before you start looking allows you to focus on homes that fit your budget and puts you in a stronger position when it's time to make an offer.

If you're purchasing with all cash, you'll need to provide valid proof of funds when submitting an offer.

Acceptable documentation may include:

✔️ A recent bank statement showing sufficient available funds
✔️ A letter from your financial institution confirming the funds are available for the purchase
✔️ Statements from investment or brokerage accounts if those funds will be used for the transaction

Keep in mind that a screenshot or snapshot photo of your bank account is generally not considered acceptable proof of funds.

Providing proper documentation upfront helps strengthen your offer and demonstrates to the seller that you have the financial ability to complete the purchase.

Whether you're financing or paying cash, being prepared before you start shopping can help make the process smoother and more competitive.

It depends on the loan program you're using, but many buyers are surprised to learn that you don't necessarily need 20% down to purchase a home.

Some common loan options include:

✔️ Conventional Loans: As little as 3% down for qualified buyers

✔️ FHA Loans: As little as 3.5% down

✔️ VA Loans: 0% down for eligible veterans and service members

✔️ USDA Loans: 0% down in eligible rural areas

✔️ Down Payment Assistance Programs (DPA): Depending on the program and your qualifications, DPA may help cover a portion of your down payment—or in some cases, the entire down payment.

In addition to your down payment, you'll want to budget for closing costs, which typically range from 2% to 5% of the home's purchase price. These costs can include lender fees, title and escrow fees, recording fees, prepaid taxes, homeowners insurance, and more.

The good news? Seller credits, lender credits, and some assistance programs may help offset a portion of these expenses.

Because every buyer's financial situation is different, the best way to get an accurate estimate is to speak with a mortgage lender. They can review your goals, explain your financing options, estimate your monthly payment, and identify any assistance programs or grants you may qualify for.

You may need less money out of pocket than you think to become a homeowner.

In most cases, yes.

The deposit, also known as earnest money, is submitted to show your good faith and commitment to purchasing the property.

The amount can vary depending on the purchase price, market conditions, and terms negotiated in the contract.

It's important to understand that your deposit is not simply given to the seller. It is typically held by a neutral third party, such as a title or escrow company, until closing.

There are contingencies written into the purchase contract that may protect both you and your deposit. Under certain circumstances, these contingencies can provide an opportunity for your earnest money to be returned if the transaction does not move forward.

However, buyers should be aware that if they breach the purchase contract or fail to perform according to the agreed terms without a contractual basis, they could be in a position where they may forfeit their deposit to the seller.

Before submitting an offer, make sure you understand:
✔️ How much earnest money is required
✔️ When it must be deposited
✔️ What contingencies protect you
✔️ Under what circumstances it may or may not be refundable

Understanding your deposit is an important part of protecting yourself throughout the transaction.

It depends on the loan program you qualify for and the lender you choose.

A general rule of thumb:

✔️ 580+ FICO may allow you to qualify for some FHA loan options with as little as 3.5% down

✔️ 620+ FICO is a good benchmark to start with and may open the door to more mortgage options, including many conventional loans

Keep in mind, your credit score is only one part of the approval process. Lenders also look at:

• Income

• Employment history

• Debt-to-income ratio

• Savings and assets

• Overall financial profile

If your score is lower than you'd like, that doesn't automatically mean homeownership is out of reach. A mortgage lender can review your situation, explain your options, and help you create a plan.

The best first step is knowing where you stand before you start shopping.

It depends on your situation, but preparation is one of the most important steps.

I recommend buyers start preparing at least 3 months before the day they want to receive keys.

Why?

This allows time to:
✔️ Get pre-approved and understand your financing options
✔️ Address any credit, income, or documentation issues
✔️ Review loan programs and assistance options
✔️ Make sure there are no surprises that could delay closing
✔️ Find the right home that fits your goals

Once you find a home and your offer is accepted, the escrow period (the time from accepted offer to closing) typically takes about 30 days for a financed purchase.

During this time, there are many moving parts:

• Loan processing and underwriting

• Appraisal

• Inspections

• Title work

• Final approval

• Closing preparation

Everyone involved is working toward the same goal: getting you the keys to your new home. If an earlier closing is possible, we will work together to make it happen.

Purchasing with cash?
The timeline can be much shorter. A cash transaction may close in approximately 3–14 days, depending on title work, inspections, and the needs of both the buyer and seller.

The best way to make the process smooth is to prepare before you find the home.

Finding the right mortgage lender is an important first step when preparing to buy a home.

A good place to start is by asking for recommendations from trusted professionals, friends, or family members who have recently gone through the process.

When choosing a lender, consider:

✔️ Experience and communication — You want someone who explains the process clearly and responds when you have questions.

✔️ Loan programs offered — Different lenders may offer different options, including conventional, FHA, VA, USDA, and down payment assistance programs.

✔️ Knowledge of your local market — A lender familiar with your area can better understand local programs, timelines, and transaction requirements.

✔️ Comparing options — It's okay to speak with more than one lender. Compare not only interest rates, but also fees, service, and the overall loan experience.

A mortgage lender can help you understand:

• How much you may qualify for

• Your estimated monthly payment

• Your down payment options

• Closing costs

• Available assistance programs or grants

Your REALTOR® can also be a valuable resource by connecting you with trusted lenders who have a proven track record of helping clients successfully close.

The right lender is not just about getting approved—it's about having a partner who helps you make confident financial decisions throughout the process.