Question 1

Why does my credit score matter more than I think?

Accepted Answer

Your credit score determines more than approval — it determines your options. A Conventional loan generally requires a minimum credit score of 620. FHA loans can go as low as 580, and USDA loans (for eligible rural/suburban properties) also allow scores as low as 580 with no down payment required. Knowing which programs you qualify for before you start house hunting can change your whole approach.

Question 2

Do I really need to get pre-approved before house hunting?

Accepted Answer

Yes. Pre-approval is based on three things: your credit (pulled from Experian, Equifax, and TransUnion), your income and employment (pay stubs from the last 30 days, W-2s from the last 2 years, and tax returns), and your assets (2 months of bank statements). During the process, you can still call with questions, keep living where you are, and keep paying your current rent or mortgage as normal.

Question 3

What's the difference between a bank and a mortgage broker or lender?

Accepted Answer

Big banks typically charge an origination or discount point and only operate 9–5. With thousands of clients, it's easy to feel like just a number, and large banks often have stricter guidelines that may not include down payment assistance options. A specialized mortgage lender can offer more flexibility — worth comparing before you commit.

Question 4

Should I buy directly from a builder without my own Realtor?

Accepted Answer

It's not recommended. A builder's on-site sales agent works for the builder, not for you. Builder-offered closing cost assistance can sometimes be tied to a loan or interest rate that costs more long-term, and even brand-new homes can have issues. Your own Realtor represents your interests and can guide you through inspections and the final walkthrough.

Question 5

Is a home inspection really necessary?

Accepted Answer

Skipping one is a real risk — you could purchase a home with issues you don't know about, lose negotiating power, risk safety concerns like mold, radon, or termite damage, lose leverage with your insurance, and miss illegal or non-permitted additions. Unless you have a licensed, insured inspector in the family, it's worth leaving to a professional.

Question 6

Does it matter if I use a full-time professional Realtor?

Accepted Answer

It does. A full-time Realtor helps the process go smoothly, and — with a buyer-broker agreement in place — is working in your best interest, not just to close a deal. They can also advise you on lenders, communities, insurance, surveys, and title companies, since they understand the full transaction from start to finish.

Home Buyer FAQ

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