Is this site giving me financial or legal advice?
No. Everything here is general educational information. For advice specific to your situation, talk with a licensed lender, real estate agent, housing counselor, or attorney.
Do you recommend specific lenders, agents, or products?
No. This site does not endorse or recommend any specific company, lender, agent, or product, and it does not accept payment for referrals.
Will I need to enter my income or financial details to use this site?
No. There are no calculators, quote forms, or pre-approval forms here that collect sensitive personal or financial information.
How much down payment do I actually need?
It depends on the loan type. Commonly cited minimums range from 0% (for some VA and USDA loans) to around 3%–3.5% for many conventional and FHA loans, though requirements vary by lender and credit profile. See the down payments guide for a fuller explanation.
What's the difference between pre-qualification and pre-approval?
Pre-qualification is generally an informal, quick estimate based on information you report yourself. Pre-approval generally involves a lender verifying your documents and often checking credit, resulting in a more solid written estimate. See the pre-approval guide for detail.
How much are closing costs usually?
They're commonly discussed as roughly 2%–5% of the loan amount, though this varies significantly by location, lender, and loan size. See the closing costs guide for a fuller breakdown.
Do I need a home inspection?
It's not always legally required, but it's widely considered an important step because it's one of the few chances to learn about a property's condition before finalizing the purchase. See the home inspections guide.
What is escrow?
It generally refers to a neutral third party holding funds or documents until agreed conditions are met, or to an account that collects money for future property tax and insurance bills. See the glossary for more.
How long does the whole process typically take?
It varies enormously by market and financing, but many buyers experience a process lasting anywhere from a few weeks to several months from active house-hunting to closing. See the full timeline for a stage-by-stage view.
What happens if the inspection finds a problem?
It generally depends on your contract's contingency terms. Buyers often use inspection findings as the basis for a repair request, a credit negotiation, or in some cases the ability to walk away, but the specific options depend on the contract language.
What is PMI and do I have to pay it?
Private mortgage insurance is often required on conventional loans when the down payment is below roughly 20%. It protects the lender, not the borrower, and is usually cancellable once enough equity builds up. See the glossary entry for PMI.
Can I buy a home with a low credit score?
Credit requirements vary by loan program and lender; some programs are designed to be more accessible to borrowers with limited or lower credit history. A licensed lender can explain what specifically applies to your credit profile.
What does this site do with the display ads it shows?
Ads support the cost of keeping this site free and are placed between sections, in sidebars, and in the footer. They are never woven into the guide text itself, and clicking an ad does not submit any of your information to us.
Do you sell any products or collect leads?
No. This site does not sell products, services, or leads, and it doesn't have accounts, quotes, or sales funnels. Any future 'free resources' section will be clearly labeled and will not involve financial data collection.
Where can I get help specific to my own situation?
A HUD-approved housing counseling agency, a licensed mortgage lender, a licensed real estate agent, or a real estate attorney are common starting points for guidance tailored to your circumstances.