Buy a home

How buying a home works

Here's the process from pre-approval to closing, what to gather, and the questions buyers ask most. Read it first, then bring me whatever is left.

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The steps, start to finish

Start with a conversation
We talk about your goals, price range, timing and how much cash you want to keep in savings. The target is a payment you're comfortable with, not the most a lender will allow.
Get pre-approved
You complete an application and authorize a credit check. I review your income, assets and credit and issue a pre-approval based on documents, not guesses. Your agent uses it to show sellers you're ready.
Shop with your agent
Find the home. If an offer needs an updated letter, I can turn it around quickly. Hold off on new debt or job changes while you shop.
Make an offer and open escrow
Once your offer is accepted, escrow opens and you put down your earnest money deposit. The contract dates for inspection, appraisal and loan approval start running, and your loan moves into processing.
Appraisal and underwriting
The lender orders the appraisal and an underwriter reviews your full file. Expect a few follow-up requests, called conditions. Quick answers keep you on schedule.
Clear to close and closing
You'll receive your Closing Disclosure at least three business days before you sign, so you have time to review the final numbers. You sign, the loan funds, and you get the keys.

What to gather

Most buyers

Government-issued photo ID
Pay stubs covering the last 30 days
W-2s for the past two years
Bank and investment statements for the past two months, all pages
Details on any other property you own
Contact info for your landlord or current mortgage servicer

If it applies to you

Self-employed: personal and business tax returns, or bank statements or a profit-and-loss statement for those programs
Gift funds: a signed gift letter and proof of the transfer
Divorce decree or child support paperwork
Social Security, pension or disability award letters
A short written explanation of any recent credit events

Every file is different. I'll send you a list for your situation so you don't spend time on paperwork you don't need.

Common first-time buyer questions

What's the difference between pre-qualification and pre-approval?

A pre-qualification is an estimate based on what you tell me. A pre-approval is based on your credit report and your documents. Sellers and agents take a pre-approval much more seriously.

How much do I need for a down payment?

It depends on the loan program, the price and your credit. Some programs allow a small down payment and others require more. You'll also need money for closing costs and sometimes reserves. Gift funds from family may be allowed. I'll lay the options side by side so you can compare.

What credit score do I need?

Each program and lender sets its own minimums, and stronger credit generally gets better pricing. If your credit needs work, I'll tell you what will help most and about how long it takes.

Will getting pre-approved hurt my credit?

A mortgage credit check is a hard inquiry and can lower your score slightly. Scoring models generally treat several mortgage inquiries within a short shopping window as one, so you can compare lenders.

What costs are there besides the down payment?

Closing costs, such as lender, appraisal, title, escrow and recording fees, plus prepaid items like property taxes and homeowners insurance. Within three business days of applying, you'll get a Loan Estimate that lists them.

How long does it take to close?

It depends on your contract, the property and how quickly documents come in. Your purchase contract sets the target date, and we work backward from it.

Should I talk to a lender or an agent first?

A lender. Knowing your budget and having a pre-approval in hand makes your time with an agent more useful and your offer stronger.

What should I avoid during the process?

Don't open new credit, finance a car or furniture, change jobs, or move large sums of money without talking to me first. Any of these can change your approval.