Frequently asked questions

How do I start the process of buying a home?

The first step is to get pre-approved for a mortgage, which helps you understand your budget and shows sellers that you're a serious buyer. Once pre-approved, contact me, Jim McGreen, and we’ll discuss your preferences, must-haves, and explore listings that meet your criteria.

How long does it take to buy a home?

The timeline can vary depending on the local market and your specific needs, but on average, the home-buying process takes around 30 to 60 days from finding a property to closing. However, this can be shorter or longer depending on factors such as market conditions or financing.

What is a pre-approval, and why is it important?

A mortgage pre-approval is a letter from a lender indicating that you’re qualified to borrow up to a certain amount. It’s important because it gives you a clear idea of your budget and strengthens your position when making an offer.

What is the difference between pre-approval and pre-qualification?

Pre-qualification is an initial estimate of what you may be able to borrow based on self-reported financial information, while pre-approval is a more in-depth analysis by a lender, including a credit check and verification of your financial documents.

What are closing costs, and how much should I expect to pay?

Closing costs are fees associated with the finalization of your home purchase, including lender fees, title insurance, property taxes, and more. They typically range from 2% to 5% of the home’s purchase price.