FAQ
Am I Ready to Be a Homeowner?
You’re ready to be a homeowner if you have stable income, good credit, savings for a down payment, and are prepared for ongoing costs and responsibilities.
Is Renting or Buying Better?
Renting offers flexibility, while buying builds equity and long-term stability. The better choice depends on your finances and lifestyle.
What Is the Lender’s Formula?
The lender’s formula compares your income, debts, and expenses to decide how much you can safely borrow.
What Do I Look for in Homes?
Look for homes that fit your budget, location needs, size, and lifestyle, while also considering condition and future resale value.
Do I Need a Home Warranty?
A home warranty isn’t required, but it can help cover repair costs for major systems and appliances.
What Should I Expect at Closing?
At closing, you’ll review and sign final paperwork, pay closing costs, and receive the keys to your new home.
What Is Pre-approval?
Pre-approval is a lender’s estimate of how much you can borrow, showing sellers you’re a serious buyer.
Am I Ready to Rent?
You’re ready to rent if you have steady income, can cover monthly rent and deposits, and are prepared for a lease commitment.
What Should I Offer?
Your offer should reflect the home’s market value, condition, and your budget, while staying competitive with other buyers.
Can I Ask You for Advice?
Yes! You can ask for advice anytime to help guide your home buying or renting decisions.