10 Most Common Home Buyer Questions

We all know that there is always a multitude of concerns for anyone in the process of buying a home, but today we’re going to touch on the 10 most common ones and give you some answers: What is the first step in the home buying process? First and foremost, get pre-approved. Talking with a lender before looking at homes can help you understand what you can afford and what costs to expect. How long does it take to buy a house? Typically, it takes around 30-45 calendar days. What does a Realtor really do? To be honest, pretty much everything. We’re your most valuable asset when buying a home. If you need a detailed list, please contact us and we’d be happy to go over it with you. How much do I have to pay for a buyer’s agent? Nothing! The seller pays the commission, so buying a home is free. What’s the best advice for first-time home buyers? Trust a professional. Keep in mind that not all Realtors are the same. You need one that will be up to date on anything and everything that could affect your deal. “ We’re your most valuable asset when buying a home. ” What kind of credit score do you need? You need to have a score higher than 580, but preferably 620 and above. Again, you should speak with a lender to find out what products are available. Are there any special loan programs you should know about? Absolutely. Did you know that there are programs available that can get you into a house with no money down? A lender can help you learn what options are available. How much is needed for a down payment? It depends on your loan type and credit score, but usually, it’s 5% to 20% down.   Are there any other fees besides a down payment? There are mainly just loan origination and closing costs. When do I get the keys? At closing. Once the loan has been funded and the title is recorded, you get the keys and the home is all yours. This is just a quick overview, so if you have any other questions about the home buying process, give me a call or send me an email. I would be happy to help you.