FREQUENTLY ASKED QUESTIONS
What is the first step of the home buying process?
The first step is getting pre-approved for a mortgage. Think of it as setting your GPS before a road trip—it shows you where you can comfortably go and helps you avoid unnecessary detours. A pre-approval clarifies your budget, strengthens your position with sellers, and allows you to focus on homes that truly fit your goals.
How long does it take to buy a home?
From the moment you begin your search to closing day, the process typically takes about 10 to 12 weeks. Once an offer is accepted, escrow usually runs 30 to 45 days. Timelines can vary depending on market conditions, financing, and availability of inspections and appraisals—but a clear plan keeps things moving smoothly.
What is a seller’s market?
A seller’s market occurs when there are more buyers than available homes. Demand is high, inventory is limited, and sellers often have the advantage—sometimes even choosing between multiple offers. These conditions are often driven by strong job growth, favorable interest rates, or limited new construction.
What is a buyer’s market?
A buyer’s market is when more homes are available than buyers ready to purchase them. This often leads to softer prices, longer days on market, and more room for negotiation. Buyers may have greater flexibility on price, repairs, or closing costs, making it a favorable environment for thoughtful purchasing.
What is a stratified market?
A stratified market means different price points behave differently at the same time. For example, entry-level homes may sell quickly while higher-priced properties take longer—or vice versa. Understanding which “layer” of the market you’re operating in is essential to creating the right strategy.
What kind of credit score do I need to buy a home?
Most loan programs look for a credit score of around 620 or higher, though requirements vary by loan type. Higher scores can unlock better interest rates and more favorable terms, but perfection isn’t required. If your score needs improvement, there are often clear steps you can take to strengthen it before buying.
How much do I need for a down payment?
Contrary to popular belief, a 20% down payment is not always required. Many buyers put down between 3% and 5%, and some loan programs allow for little to no money down. There are also federal, state, and local assistance programs—especially in Texas—that can help with down payment and closing costs.
Should I sell my current home before buying a new one?
That depends on your financial picture, timing, and comfort level. Selling first can provide clarity and access to equity, while buying first may offer flexibility for those who qualify to carry both properties or plan to keep one as an investment. The best approach is the one that aligns with your goals and reduces stress—not a one-size-fits-all answer.