Below are answers to the questions I hear most often from buyers.
How much do I need for a down payment on a home?
The amount depends on your loan type and financial situation. While 20% is a common benchmark, many buyers put down less — some conventional loans allow as little as 3%, and FHA loans require just 3.5%.
What’s the difference between pre-qualification and pre-approval?
How does my credit score affect my mortgage rate?
What are closing costs, and how much should I expect to pay?
How long does the homebuying process usually take?
Can I buy a home if I’m self-employed or have irregular income?
What’s included in my monthly mortgage payment?
What is a 2-1 buydown, how does it work and who pays for it?
Who pays for the 2-1 buydown—the buyer, the seller, or the lender?
Do I need a home inspection, and what does it cover?
HAVE QUESTIONS?
Lets talk!
Wiley Drake
Agent | License ID: Maryland, Virginia, DC