Common questions

With a pre-qualification, you provide your income and asset information to a lender. A pre-qualification is only as accurate as the information you provide and is not a commitment to lend. To help determine your overall credit worthiness, a credit report will be pulled.

A government-issued photo ID; your two most recent, consecutive bank statements (all pages, even blank ones); W-2s or 1099s for the past two years (self-employed buyers need two years of filed tax returns); and pay stubs for the last 30 days. You are not required to provide any of this until you have received your Loan Estimate and given your intent to proceed. More documentation will be requested during the loan process.

No. A home inspection is fully optional. We highly recommend one so you have as much knowledge as possible before making your purchase.

An appraisal is an unbiased professional opinion of a home’s value and is used whenever a mortgage is involved in buying, refinancing or selling. The appraiser also checks the property’s condition against the buyer’s financing guidelines.

An underwriter is a financial expert who reviews your finances and assesses how much risk a lender takes on by giving you a loan. Underwriters evaluate your credit history, assets, the size of the loan and how well they anticipate you can pay it back.

Depending on financing terms and conditions, the average purchase timeline is roughly 45 days from contract to closing.

In a seller’s market, demand for homes outpaces supply and prices rise. Common drivers include a hot local labor market bringing in new residents, falling interest rates that improve affordability, and low inventory because not enough new homes are being built.

A buyer’s market is characterized by declining prices and reduced demand, often after an economic disruption such as a major employer shutting down, or when inventory outgrows the number of active buyers.