Frequently asked question
Getting pre-approved for a mortgage is the first step of the home buying process. Getting a pre-approval letter from a lender get the ball rolling in the right direction.
In sellers’ markets, increasing demand for homes drives up prices. Here are some of the drivers of demand
From start (searching online) to finish (closing escrow), buying a home takes about 10 to 12 weeks. Once a home is selected an the offer is accepted, the average time to complete the escrow period on a home is 30 to 45 days (under normal market conditions).
In most cases, a renter’s lease outlines which repairs are the landlord’s responsibility and which are the tenant’s. If the renter wants to complete repairs on their own, it’s best to ask the landlord before doing so. They might approve the repairs and even cover some of the costs for them
While the broad down payment average is 11%, first time homebuyers usually only put down 3 to 5% on a home. That’s because several first-time home buyer programs don’t require big down payments. A longtime favorite, the FHA loan, requires 3.5% down
Closing costs for homebuyers typically range from 2% to 5% of the home’s purchase price. These costs cover various fees and expenses associated with finalizing the real estate transaction
