Many people think you need 20% down to buy a home, but that’s actually a common myth. Most buyers today purchase with as little as 3–3.5% down, and some loan programs even offer 0% down options depending on your situation. I also work with a great lender partner who can help explore down payment assistance programs (DPA) that may help cover part or even all of your down payment.

Pre-qualification: A quick estimate from a lender of how much you might be able to borrow based on information you provide.

Pre-approval: A more official review where the lender checks your credit and financial documents to confirm how much you’re approved to borrow.

Your credit score helps lenders decide the interest rate you qualify for. In general, a higher credit score can help you get a lower rate, which can mean a lower monthly payment. If your score is lower, you may still be able to buy a home, but the rate could be higher. If you need help improving your credit, my lender partner can also help create a plan to get you where you need to be to buy a home.
 

Closing costs are the fees involved in finalizing your home purchase, such as lender fees, title work, and other transaction costs. Typically, buyers can expect closing costs to be around 3–6% of the loan amount. In some cases, new construction communities offer closing cost assistance, or with the right negotiation, we may be able to have the seller help cover some of those costs.

The timeline can vary, but once you go under contract on a home, the process usually takes about 30–45 days to close. The full timeline can be longer depending on how quickly you get pre-approved, find the right home, and submit an offer.

Your monthly mortgage payment typically includes four main things: the loan principal, interest, property taxes, and homeowners insurance. Some homes may also include HOA fees if the neighborhood has a homeowners association.