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FAQs

Get answers to your real estate questions!

  • Am I ready to buy a house?
    If you have a 3-6 month emergency fund AND money saved for your down payment and closing costs, then you're ready to buy a house!
  • What is the first step in the Home Buying Process?
    The first step in the home buying process is getting pre-approved. Pre-approval lets you know how much you can borrow BEFORE you start looking. This can help narrow down the home search to properties that are within your budget and eliminates time wasted. (Pre-approval also prevents you from falling in love with homes you can't afford.) Once you're pre-approved, you can start shopping with your agent!
  • How much house can I truly afford?
    We recommend getting a mortgage, where the monthly payment is no more than 30% of your income. This will ensure your home does not become a financial burden for you and your family. If you need help calculating, use our mortgage calculator.
  • What type of loan should I get?
    There are many different types of mortgage loans and there are many factors to consider. There is not a one-size-fits-all. One mortgage type may be better for you depending on your personal and financial situation. It's best to have an expert help you through the process to determine which is best.
  • Should I refinance my home?
    Refinancing is where a lender will pay off your current loan and give you a new one. Refinancing your home can be a great way to save money in interest by getting a lower monthly payment. However, there are some fees that come with refinancing. The savings you get from the new loan need to outweigh the fees of getting the new loan for refinancing to make sense. If you need help estimating how much you can save, use our refinance calculator or get help from our preferred lender.
  • Should I sell my current home before buying?
    If you need the equity in your current home to be applied to the down payment of your new home, then it needs to be sold first. Some home buyers decide to turn their current home into an investment property and then buy a new home. If this is the case, there's no need to sell. However, your loan officer will still need to evaluate your finances to see if it's feasible to keep your current property and buy a new one. ​ Buyers often have a short time frame to sell their home when relocating to a new city because of a new job. Check to see if your new employer has relocation benefits that help with these costs.
  • How long does it take to buy a home?
    In general, from start to close (finish), buying a home takes 10-12 weeks. Once an offer has been accepted on a home, it normally takes 30-45 days to close on a property.
  • What is a seller's market?
    A seller's market is where there is increasing demand for homes, which drives the price up. Here are some factors that contribute to a seller's market: ​ The Economy: the local labor market could heat up, bringing an influx of new buyers, which could drive up home prices, before more homes can be built. Lower Interest rates - this means homes are more affordable, creating more buyer demand. More buyers drives the price of homes up. Low inventory - fewer homes because of a lack of construction means more people will be competing for the same home, which means people will need to pay more if they want a chance at winning the offer.
  • What is a buyer's market?
    A seller's market is defined by declining home prices and reduced buying demand. This makes the market more appealing to buyers. Here are some factors that contribute to a buyer's market: ​ The Economy: Widespread layoffs and unemployment could decrease buyer demand and make it harder to sell. With more homes on the market, sellers are forced to reduce their prices or accept lower offers to sell. Higher Interest rates - this means homes are less affordable, creating less buyer demand. Fewer buyers drive the price of homes down. High inventory - as new homes are built, it can cause the prices of older nearby homes to decline.
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