The 20 questions every buyer asks.

FHA loans: 3.5% minimum. Conventional: 5% typically, 20% to avoid PMI. VA loans: 0% for qualified veterans. The right answer depends on your full picture — Georges can walk through what works for you.

Pre-qualification is a verbal estimate based on what you tell the lender. Pre-approval involves submitting W-2s, pay stubs, and bank statements. Sellers take pre-approval seriously; pre-qualification gets ignored.

From pre-approval to keys: typically 45-60 days. The mortgage process itself runs 30-45 days from accepted offer to closing.

FHA: 580+ (sometimes 500-579 with 10% down). Conventional: 620+ minimum, 740+ for the best rates. VA: usually 620+. Higher scores = lower rates.

Almost always yes. A $500-800 inspection routinely uncovers $5,000-50,000 worth of issues. Only waive it in rare scenarios (new construction with builder warranty, extreme seller's market).

Typically 2-4% of purchase price. Includes loan origination, title insurance, escrow fees, prepaid taxes/insurance, recording fees. You'll see an itemized estimate at application.

Yes, but it's harder and more expensive. FHA accepts down to 580 (sometimes 500). Focus on improving credit before buying when possible — even 30 days of paying down balances helps.

Not technically — but buyers without agents typically pay more, miss issues, and have weaker negotiating positions. Buyer agents are usually compensated by the seller, so the cost to you is minimal or zero.

Good-faith deposit you submit with your offer, typically 1-3% of purchase price. Held in escrow. Applied to your closing costs/down payment. Refundable in most contingency scenarios.

Strong offers consider price, contingencies, escrow timeline, financing terms, and seller-specific concerns. Highest price often loses to cleaner terms. We craft based on what each seller actually values.

Disclose immediately to your lender. Your loan can be derailed. In some cases you'll lose your earnest money. Don't take new debt during escrow either — financing the new couch can blow up your closing.

In hot markets sometimes yes — but with eyes wide open. Inspection and appraisal contingencies protect significant money. Loan contingency protects everything. Waive only what you can afford to lose.

Lets you back out (or renegotiate) if the home appraises below contract price. Without it, you bring the difference in cash if the appraisal misses. Critical in fast-rising markets.

Private Mortgage Insurance — required when your down payment is less than 20% on a conventional loan. Adds ~0.3-1.5% of loan amount annually. Drops off once you reach 20% equity.

California: ~1.25% of purchase price annually, paid through escrow as part of your monthly payment. Reassessed at purchase. Prop 13 caps annual increases at 2% thereafter.

Yes — from family members, with a properly-documented gift letter. Most loan types allow 100% gift funds. Process matters: lenders trace the money.

An offer where your purchase depends on selling your current home first. Sellers prefer non-contingent offers in active markets, so contingent buyers often need to offer more or accept other tradeoffs.

Lenders like to see 2-6 months of mortgage payments in liquid savings after closing. More for investment properties or jumbo loans. Reserves strengthen approval and lower your rate.

A neutral third party holding funds and documents during the transaction. They coordinate the closing — collecting money, paying off old liens, recording the deed, and disbursing funds to the seller.

Yes — but if you're financing it as a primary residence, you typically need to live there at least 12 months. Otherwise it's an investment property loan (higher rates, more down payment). Always disclose intent honestly.