Question 1

What is the first step in buying a home?

Accepted Answer

Getting pre-approved for a mortgage is usually the first and most important step.

Question 2

How much do I need for a down payment?

Accepted Answer

It varies, but typically between 3% and 20% of the home’s price.

Question 3

Should I sell my current home before buying a new one?

Accepted Answer

It varies, but typically between 3% and 20% of the home’s price.

Question 4

Should I sell my current home before buying a new one?

Accepted Answer

It depends on your financial situation; some prefer selling first to avoid carrying two mortgages.

Question 5

What are closing costs?

Accepted Answer

These are fees paid at the closing of a real estate transaction, usually 2–5% of the loan amount.

Question 6

Can I buy a house with bad credit?

Accepted Answer

It’s possible, but you may face higher interest rates or need a larger down payment.

Question 7

What should I look for during a home inspection?

Accepted Answer

Pay attention to the roof, foundation, plumbing, electrical systems, and signs of water damage.

FAQ's

Frequently Asked Questions