Pre-qualification gives you a general idea of what you may be able to afford, while pre-approval involves a more detailed review of your finances by a lender. A pre-approval is typically stronger when you’re ready to make an offer.

Your credit score can directly affect the interest rate a lender offers you. The stronger your credit, the more likely you are to qualify for a lower rate. Even a small difference in your rate can significantly impact your monthly payment and total interest paid over the life of the loan.
 
 
 
 

Closing costs are the fees and expenses associated with finalizing your home purchase, such as lender fees, title services, appraisal, and prepaid taxes or insurance. Buyers typically pay around 2–5% of the purchase price, although the amount varies depending on the loan and transaction.

The timeline varies, but once you’re under contract, closing typically takes about 30–45 days. The time it takes to find the right home can range from a few days to several months depending on your needs and the local market.

Self-employed buyers and those with irregular income can absolutely qualify for a mortgage, though lenders may require additional documentation to verify consistent income. Requirements vary by loan program, and I’m happy to connect you with a trusted local lender who can walk you through your options.

Your monthly mortgage payment typically includes principal and interest, and may also include property taxes, homeowners insurance, and mortgage insurance. The exact breakdown depends on your loan type and how your mortgage is structured.

A 2-1 buydown temporarily lowers your mortgage interest rate for the first two years—typically 2% lower in year one and 1% lower in year two. This reduces your initial monthly payments before the loan returns to its full interest rate in year three.

A 2-1 buydown can be funded by the seller, builder, lender, or sometimes the buyer, depending on the loan and transaction. Seller-paid buydowns are a common negotiation tool that can help reduce the buyer’s monthly payments during the first two years.

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