One of the first steps of buying a home is getting pre-approval for a mortgage. Pre-approval will give you an idea of how much you can afford and will also show sellers that you are a more serious buyer.

Note: Pre-qualification is not the same as pre-approval

The typical timeline is 40-50 days to close on a home.

Typically, the seller pays the buyer’s agent commission.

20% down can help avoid mortgage insurance costs, but it is not required.

Conventional loan - 3-15% minimum down payment

FHA Loan - 3.5% minimum down payment

VA & USDA - zero down

Most lenders require a FICO score of 620+.