The amount you need for a down payment depends on the type of loan and your 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%. There are even 0% down options and Down Payment Assistance Programs. We would need to connect with a local lender to see what loan type and programs you match with.

A pre-qualification is just an estimate of what you might be able to borrow, based on unverified info you provide. A pre-approval goes deeper — the lender verifies your income, credit, and assets, giving you a stronger, more reliable loan commitment. Sellers take pre-approvals much more seriously.

The higher your score, the less risky you look to lenders, which usually means a lower interest rate and lower monthly payments. A lower score signals more risk, so lenders often charge higher rates to offset that. Even a small difference in rate can add up to thousands of dollars over the life of the loan.

Closing costs are the fees and expenses you pay at the end of a real estate transaction, on top of your down payment. They cover things like the appraisal, title search, lender fees, recording fees, and prepaid items such as taxes and insurance.

Most buyers can expect to pay about 3–5% of the purchase price in closing costs. Some or even all of these costs are able to be paid by the seller when negotiating an offer depending on your loan type.

From start to finish, the home buying process usually takes 30–45 days once you’re under contract. That timeline covers inspections, the appraisal, loan underwriting, and final paperwork. The search for the right home can add extra time, depending on how quickly you find “the one.”

Quick rule of thumb: house hunting = variable, closing = about a month.

Yes! You can absolutely buy a home if you’re self-employed or have irregular income — you’ll just need to show a bit more documentation. Lenders typically ask for 2 years of tax returns, bank statements, and proof of consistent income to verify you can handle the payments. It may take more paperwork, but plenty of self-employed buyers qualify every day.

Your monthly mortgage payment usually has four parts, often called PITI:

Principal – the amount that pays down your loan balance
Interest – what the lender charges for the loan
Taxes – property taxes, collected and held in escrow
Insurance – homeowners insurance (and sometimes mortgage insurance, if required)

A 2-1 buydown is a way to temporarily lower your mortgage interest rate for the first two years of your loan.

Here’s how it works:

Year 1: Your rate is reduced by 2%.
Year 2: Your rate is reduced by 1%.
Year 3 and beyond: Your rate goes back to the full, original rate for the rest of the loan.
The difference in payments is usually covered upfront by the seller, builder, or sometimes the buyer. It helps make the first couple of years more affordable, giving you time to adjust or expect income growth.