COMMON QUESTIONS

WHAT IS THE FIRST STEP IN THE HOME BUYING PROCESS?

Getting pre-approved for a mortgage is the first step of the home buying process. It is important to know how much house you can afford. Also, the loan estimate from your lender will show how much money is required for the down payment and closing costs. You will have a clear picture of what is financially required.

Lastly, being pre-approved for a mortgage demonstrates that you are a serious buyer to both your real estate agent and the person selling their home.

DO I NEED A REAL ESTATE LAWYER AS WELL?

In the home buying/selling process, a real estate attorney is not required. Real estate agents can explain contracts used in the process. However, if you have further questions beyond the explanation of the contract, it can be beneficial to reach out to an attorney.

WHAT KIND OF CREDIT SCORE DO I NEED TO BUY A HOME?

Most loan programs require a FICO score of 620 or better. Borrowers with higher credit scores represent less risk to the lender, often resulting in a lower down payment requirement and better interest rate