FAQ
Am I Ready to Be a Homeowner?
You may be ready to buy a home if most of the following are true:
You have stable income (generally 2+ years of consistent employment)
You’ve saved for down payment + closing costs
Your credit score is in a healthy range (typically 620+, higher is better)
You plan to stay in the home at least 3–5 years
You’re comfortable with ongoing costs (maintenance, taxes, insurance)
Is Renting or Buying Better?
It depends on your timeline, finances, and lifestyle.
Renting may be better if:
You plan to move in the next 1–2 years
You want flexibility
You’re still building savings or credit
Buying may be better if:
You want long-term stability
You’re ready to build equity
Monthly rent is comparable to a mortgage
You want control over your space
What Is the Lender’s Formula?
Lenders look at three main things:
Income
Debt-to-Income Ratio (DTI)
Ideally under 43%
Credit Profile
They also consider:
Down payment amount
Cash reserves
Employment history
What Do I Look for in Homes?
Focus on the big, expensive items first:
Location & school district
Layout and functionality
Roof, HVAC, foundation
Natural light and lot size
Resale potential
Do I Need a Home Warranty?
A home warranty is optional, but often helpful for first-time buyers.
Pros:
Covers repair/replacement of major systems
Peace of mind in year one
Often negotiable with the seller
Cons:
Service fees apply
Coverage has limits
It is typically recommended for older homes or nervous first-time buyers.
What Should I Expect at Closing?
At closing, you will:
Sign loan and ownership documents
Pay closing costs (unless negotiated)
Receive keys to your new home 🎉
What Is Pre-approval?
Pre-approval is when a lender reviews your finances and confirms:
How much you qualify for
Estimated interest rate
Your buying power
Why it matters:
Required before touring homes seriously
Makes your offer stronger
Helps you shop with confidence
Am I Ready to Rent?
You’re ready to rent if:
You can afford first month’s rent + deposit
Your income is typically 3× the rent
You prefer flexibility
You’re not ready for long-term ownership
What Should I Offer?
Your offer depends on:
Market conditions (buyer vs seller market)
Comparable home sales
Home condition
Seller motivation
An offer isn’t just price — it includes:
Earnest money
Closing timeline
Contingencies
Can I Ask You for Advice?
Yes — that’s literally my job.
You can ask us about:
Credit and financing strategy
Timing the market
Renting vs buying
Negotiations
Long-term planning
There’s no pressure, no obligation, and no “dumb” questions — especially for first-time buyers.