FAQ
Frequently Asked Questions
Am I Ready to Be a Homeowner?
Yes, if you have steady income, good credit, savings, low debt, and plan to stay long-term.
Is Renting or Buying Better?
Renting offers flexibility; buying builds equity. The best choice depends on your finances, lifestyle, and long-term plans.
What Is the Lender's Formula?
Lenders use the 28/36 rule:
Spend no more than 28% of your gross income on housing.
Keep total debt (including housing) under 36% of your income.
What Do I Look for in Homes?
Focus on location, price, size, condition, layout, and future resale value. Check for needed repairs, neighborhood quality, and commute times.
Do I Need a Home Warranty?
It’s optional, but helpful. A home warranty can cover repair costs for appliances and systems, offering peace of mind—especially for older homes.
What Should I Expect at Closing?
You’ll sign final documents, pay closing costs, and get the keys. Expect to review loan terms, insurance, and legal papers—plan for 1–2 hours.
What Is Pre-approval?
Pre-approval is a lender’s written estimate of how much you can borrow, based on your credit, income, and debts. It strengthens your offer when buying.
Am I Ready to Rent?
Yes, if you have steady income, a budget for rent and bills, a good credit history, and can commit to a lease and basic responsibilities.
What Should I Offer?
Base your offer on the home’s market value, condition, local trends, and your budget. Factor in seller motivation and recent comparable sales.
Can I Ask You for Advice?
Absolutely! Feel free to ask me for advice anytime — whether it’s about buying, renting, financing, or anything else. How can I help?