FAQ

Many loans have a minimum credit score, but maybe not as high as you might think, although the higher your score, the better your rate and monthly payment. So if we can improve it even a little first, it’s usually worth it.

A lot of people think it has to be 20%, but it’s absolutely not the case. You can get in with much less if it makes sense for you, depending on the loan. The Lender can help figure out what makes the most sense for you.

This is the money you need on top of your down payment. In PA, it’s usually a few percent of the purchase price and includes things like lender fees, title, taxes, transfer taxes and setting up your escrows.

Sometimes, yes, depending on the loan and if you meet the qualifications. It’s not for everyone, but it’s definitely an option I and your Lender can help you explore.

A pre-approval is a lender saying, “We’ve looked at everything and you’re good up to this amount.” And honestly, it’s not really optional anymore. A lot of sellers won’t negotiate an offer without it.

Usually pretty quick, sometimes same day or a couple of days, depending on if you have your documents ready.

Pre-qualification is more of a guess. Pre-approval means they actually checked everything and it has been run through underwriting. Big difference when you’re making an offer.

There’s no one-size-fits-all. It depends on your finances, your goals, and what programs you qualify for. We’ll help get you to the right Lender who will match you with the right one.

A lot more than people think. Even a small change in rate can shift your monthly payment and what you can afford pretty significantly.

Once you’re under contract, about 30–60 days, depending on your timeline and the Seller’s timeline. Finding the right house, that part can take a little longer.

It depends on your timeline and goals. Renting, you are paying someone else’s mortgage and while easy, you aren’t building anything that’s lasting. With Buying, you are building your own equity and making a lasting investment in yourself.

Look past the décor and personal things at the home. Focus on layout, condition, and location, and how many boxes it checks off for you!

As many as it takes! When it’s right, you will walk into the home and feel it. There is nothing like the feeling of walking into a home you know HAS to be yours. But, even if it doesn’t happen with the first one, there is always another and we will find the right one for you!

Water issues, structural concerns, roof issues, termites, major systems that may be failing, those are the big ones. But even if they are red flags, during inspection contingency, we can see if those things can be mitigated or repaired. It’s not always a deal breaker.

It’s not always price, although it’s a major factor. It’s terms, timing, strategy and a good Agent to help guide you through it. They can help you be creative and bring a strong offer to the table that the Seller can’t ignore.

You can, but whether the situation calls for it is the bigger question. Your Agent will walk you through and give you all the information you need to make a competitive, strong offer, whether below, at or above asking price, as the situation calls fo.

It’s the deposit that you give along with your offer, most times it is 3-5% of the purchase price and shows the Seller you are serious and it’s also the Buyer’s risk that matches the Seller’s risk of taking the property off the market while you go get your financing. The Seller wants to see the Buyer taking as much as or close to as much risk as they are taking, when they are stopping marketing and showings.

Inspection, financing, and appraisal are the bigger ones. We’ll decide together what makes the most sense based on the situation.

Yes, as long as you stay within your contingency time periods. That’s why those timelines matter so much. Your Agent will keep track of these deadlines and make sure you are aware of all of your rights within the contract and transaction.

An inspector that you contract goes through the house and tells you what’s going on, whether it’s good, bad, or everything in between. They will then send you a full report listing everything they looked at and talked with you about and then you and your Agent go through and see which things are material defects that would keep you from being able to live or be safe in your new home.

I strongly recommend it. It’s one of the biggest protections you have. If you do not have inspections, you lose your right to walk away if there are issues that might impact quiet enjoyment of your new home and cost you money down the line if there are issues that were not seen or known.

It’s the lender making sure the house is worth what you’re paying.

Depending on the terms of the agreement, it is a negotiation point and price can be adjusted if you and the Seller agree, or if you can’t come to an agreement, some people will terminate and move on. It isn’t always necessary that you have to come up with more money at closing either if the Seller can’t/won’t lower the price. Sometimes your Lender can work the extra cost into the mortgage so it doesn’t affect what you have to come to the table with. Your Agent and Lender can talk to you about your options should that situation arise.

Yes, but it’s always a negotiation. No one is obligated to fix anything and while you can ask for the repair or the credit for what you need/want fixed, it is up to the Seller what they are ok to do or not do. What you have to remember is this, both sides want the same thing, to get to the closing table, so rest assured 9 times out of 10, both sides will work to make everyone comfortable moving forward. Does this always work out, no, there are times that both sides cannot come to an agreement and the Buyer terminates.

It’s a mortgage insurance policy that the mortgage company takes out on the property when you put less than 20% down. They want to be assured that they will be paid back should you default on the home, so when you are putting less than 20% down, the insurance policy or PMI, will give them assurance that should you default, they will be paid back. If you put 20% or higher, they feel that they have enough from you that they don’t need that policy. You can also get it taken off once you reach 20% (if you have put less down) if you have a conventional loan. With FHA, the PMI is for the life of the loan.

They’re based on the property and the area and are not something the Seller or the Buyer can control. We’ll look at them before you buy, and calculate them within your monthly payment so there are no surprises.

Yes, your lender will require it. It protects your home and you have to show proof that you have it before you will be clear to close.

Some communities have them, some don’t. Your Agent will let you know if there is an Association and what the fees for that particular development are. It changes quite a bit from community to community and also depends on what that Association offers for that fee.

Well, with mortgage payments, you have what is called a PITI payment, it’s your P-Principal, I-Insurance, T- Taxes, I – interest. Plus bills and maintenance costs.

Think about your lifestyle, commute, long-term value and what you want in a neighborhood. Things like walkability, transportation options, space, Parks, etc play a huge part. Your Agent can chat with you about what you really want and need in a neighborhood and explore from there. It’s not always just about the house itself.

If you need/want to move and it makes sense for you financially, then it’s a good time!!

It varies from month to month and area to area, but you should always be prepared for competition. Your Agent can explore the Market statistics report and the Market performance report, plus their own knowledge of the area you choose to give you accurate data on how competitive the market is at the time you want to buy.

If you want to be protected during a transaction, having a Realtor that is your designated Agent and has a fiduciary duty to protect you and knows the process makes a big difference. A Listing Agent can help you, but can not protect your interests because they already have a fiduciary duty to the Seller to get them the best price, so how can they help you negotiate the best price for you?

There are 3 ways a Buyer Agent can get paid. One is through the Listing Agent, that shares their fee with a Buyer Agent, it can come from the Sellers, called a concession and it comes from the Seller’s proceeds, that they “give back” to the Buyers to help pay for their Agent and it can come from the Buyers, if the Seller or Listing Agent is not offering the help. We will know before offering on the house what that situation is and you can make an informed decision before moving forward.

We have a fiduciary duty to protect a Buyer’s interests. They guide you through the twists and turns of the transaction, negotiate for you, manage the process, and make sure nothing falls through the cracks. They share their expertise of the transaction to make it as smooth and painless as possible.

With the new laws, it’s harder to work with more than one Agent since Agreements have to be signed before a Realtor can show you a home in Pa, and you may not want to do that anyway because working with multiple Agents does not have your best interests or a fiduciary duty to protect you and with this being one of the biggest transactions you’ll ever have, you may want to have 1 advocate that cares about what happens.

Ask how they do things before and during the transaction, how they communicate, and how they can help you win. You’ll want to know how much they understand about the contracts and how they negotiate. You want to make sure that the person you choose to guide you through the transaction has your best interests in mind.

You do your final walkthrough, make sure everything is still in the same shape it was when you put in your offer, go to the closing table, sign everything, funds are transferred, and you get your keys. (and do a little happy dance!)

It can happen. We do everything we can to keep it on track, but sometimes things will happen that are out of everyone’s control.

It is a search the title company does to make sure the property is clear to transfer to you. It looks for things like violations, old mortgages, judgements, etc that could be “clouds” on the title. What you want is to be able to transfer what’s called “clean and marketable” title.

Giving away your rights is always dangerous. I would say only if you fully understand the risk you’re taking. It’s definitely not something to take lightly.

Strong offer, clean terms, good strategy and a Realtor that knows how to be creative! You have to decide before you move forward with your offer, what your highest and best terms are that you’re comfortable with to be competitive.

Jumping in without prep, focusing on the wrong things, not vetting their Realtor and the biggest one, not asking enough questions!

We will look at location, condition, and long-term potential, not just the price. We also will explore and see what other homes in the area have sold for, how long they were on the market and list price versus sold price, to get an idea of value for the area as well.