Buyers: Get the Most Home for Your Money!
Here are the most popular home buyer resources on this site. Whether you are a first time buyer or an experienced investor, these links are sure to help you find your dream home at the best possible price.
Are real estate commissions negotiable?
Yes, commission rates can be negotiated. However, it is important to understand that the commission often covers the marketing budget and resources used to sell your home effectively. All commission terms will be clearly outlined in a written agreement before we list your property on the MLS.
What credit score do I typically need to buy a home?
Most loan programs look for a FICO score of 620 or higher. While it is possible to qualify with a lower score, having a higher credit score often unlocks better interest rates and lower down payment options because lenders view it as lower risk.
How exactly does a mortgage work?
A mortgage is simply a loan used to purchase a property, where the home itself serves as collateral. You will make monthly payments to repay the loan amount plus interest over a set period—typically 15 to 30 years. We can connect you with trusted lenders who can walk you through the specific terms and rates available to you.
How long has this home been on the market?
This is a great question to ask. Knowing how long a home has been listed helps us determine if it might be overpriced or if there is room to negotiate a better deal. It also gives us insight into the local market dynamics so we can structure a smart offer.
Should I sell my current home before buying a new one?
This decision depends entirely on your financial comfort and goals. We need to look at whether you can carry two mortgages comfortably or if your new purchase needs to be "contingent" on selling your old home. I can help you evaluate the pros and cons of both scenarios so you aren't left without a place to live or overextended financially.
What is earnest money?
Think of earnest money as a "good faith deposit." It’s a sum—typically 1-2% of the purchase price—that you submit with your offer to show the seller you are serious. This money is held in an escrow account (not given directly to the seller) and is applied toward your down payment or closing costs when we close the deal.
What happens if I change my mind and want to back out?
This depends on why and when you back out. Our contract will include specific "contingencies" (like inspection or financing) that allow you to walk away and get your earnest money back if certain conditions aren't met. However, if you back out after those deadlines pass without a valid reason, the seller may have the right to keep your deposit as compensation for taking their home off the market.
How much will my down payment be?
You might have heard that you need 20% down, but that is rarely the strict requirement anymore. In fact, the average first-time buyer puts down roughly 8%, while repeat buyers average around 19%. There are also government-backed loans (like FHA) that require as little as 3.5%, and VA loans for veterans often require 0% down. We can explore which program fits your budget best.
How much should I budget for closing costs?
You should typically budget between 1% and 5% of the home’s purchase price for closing costs. These aren't agent fees; they cover third-party expenses necessary to finalize the transaction, such as lender fees, title insurance, property taxes, and homeowner’s insurance.
How do I know if I’m overpaying for a property?
This is where my role as your agent is critical. We will look at "comps"—similar homes that have sold recently—to determine fair market value. Beyond the price tag, we also need to ensure the monthly payment fits your financial picture comfortably. If a home is priced significantly higher than comparable sales or has been sitting on the market for a long time, we can discuss negotiating a lower price.
What strategies help when buying in a competitive market?
In a market with low inventory, preparation is key. First, we ensure you are fully pre-approved so sellers know your financing is solid. We can also make your offer stand out by increasing your earnest money deposit, being flexible with the seller’s preferred closing date, or limiting contingencies where it is safe to do so. My job is to find out exactly what motivates the seller so we can structure a winning offer without overextending you.
Yes, commission rates can be negotiated. However, it is important to understand that the commission often covers the marketing budget and resources used to sell your home effectively. All commission terms will be clearly outlined in a written agreement before we list your property on the MLS.
What credit score do I typically need to buy a home?
Most loan programs look for a FICO score of 620 or higher. While it is possible to qualify with a lower score, having a higher credit score often unlocks better interest rates and lower down payment options because lenders view it as lower risk.
How exactly does a mortgage work?
A mortgage is simply a loan used to purchase a property, where the home itself serves as collateral. You will make monthly payments to repay the loan amount plus interest over a set period—typically 15 to 30 years. We can connect you with trusted lenders who can walk you through the specific terms and rates available to you.
How long has this home been on the market?
This is a great question to ask. Knowing how long a home has been listed helps us determine if it might be overpriced or if there is room to negotiate a better deal. It also gives us insight into the local market dynamics so we can structure a smart offer.
Should I sell my current home before buying a new one?
This decision depends entirely on your financial comfort and goals. We need to look at whether you can carry two mortgages comfortably or if your new purchase needs to be "contingent" on selling your old home. I can help you evaluate the pros and cons of both scenarios so you aren't left without a place to live or overextended financially.
What is earnest money?
Think of earnest money as a "good faith deposit." It’s a sum—typically 1-2% of the purchase price—that you submit with your offer to show the seller you are serious. This money is held in an escrow account (not given directly to the seller) and is applied toward your down payment or closing costs when we close the deal.
What happens if I change my mind and want to back out?
This depends on why and when you back out. Our contract will include specific "contingencies" (like inspection or financing) that allow you to walk away and get your earnest money back if certain conditions aren't met. However, if you back out after those deadlines pass without a valid reason, the seller may have the right to keep your deposit as compensation for taking their home off the market.
How much will my down payment be?
You might have heard that you need 20% down, but that is rarely the strict requirement anymore. In fact, the average first-time buyer puts down roughly 8%, while repeat buyers average around 19%. There are also government-backed loans (like FHA) that require as little as 3.5%, and VA loans for veterans often require 0% down. We can explore which program fits your budget best.
How much should I budget for closing costs?
You should typically budget between 1% and 5% of the home’s purchase price for closing costs. These aren't agent fees; they cover third-party expenses necessary to finalize the transaction, such as lender fees, title insurance, property taxes, and homeowner’s insurance.
How do I know if I’m overpaying for a property?
This is where my role as your agent is critical. We will look at "comps"—similar homes that have sold recently—to determine fair market value. Beyond the price tag, we also need to ensure the monthly payment fits your financial picture comfortably. If a home is priced significantly higher than comparable sales or has been sitting on the market for a long time, we can discuss negotiating a lower price.
What strategies help when buying in a competitive market?
In a market with low inventory, preparation is key. First, we ensure you are fully pre-approved so sellers know your financing is solid. We can also make your offer stand out by increasing your earnest money deposit, being flexible with the seller’s preferred closing date, or limiting contingencies where it is safe to do so. My job is to find out exactly what motivates the seller so we can structure a winning offer without overextending you.