10 Most Common Home Buyer Questions

Buying a new home is exciting and confusing. There are a lot of steps to

buying a home, and people have questions. These are the most common

questions home buyers have, and the answers

1. How do I get started? – The first step is to speak with a lender and

get a pre-approval. This will tell you, and potential sellers, how much you

can afford.

2. How long does it take to close on a home? – Typically, it takes

about 30-45 days once contracts are signed to complete the lending,

appraisal, and inspection processes.

3. What does my agent do? – A buyer’s agent will negotiate terms and

manage the closing process from start to finish.

4. How much do I pay for a buyer’s agent? – Nothing. The seller’s

agent gives the buyer’s agent a portion of their commission from the seller.

5. What credit score do I need to qualify? – A 620 FICO score or

higher is required for most home loan programs. We can help connect you to a great lender to talk to for other

options for lower scores.

6. How much money do I need for a down payment? – It varies. FHA

loans start as low as 3% and most lenders offer standard programs for a

5% down payment. We can help you get matched with a great lender.

7. What other fees will I need to pay? – Closing costs and loan

origination fees will add another 2-4% to the costs.

8. What if I change my mind? – Your agent will work with you to build

in contingencies for condition, loan terms/approval, and other protections to

allow you time to evaluate the home during escrow.

9. When do I get the keys? – Unless you’ve negotiated extra time for the sellers to move, you’ll get the keys at the closing.

10. What’s the best advice for home buyers? – Trust the experts and ask lots of questions. Buying a new home is exciting. Reduce any anxiety by finding a good buyer’s agent who can help you make the best choice for your needs