Buyer's
Frequently Asked Questions
Q: What is the difference between pre-qualification and pre-approval?
A: Pre-qualification gives you an estimate of how much you might be able to borrow based on self-reported financial information. Pre-approval involves a more thorough review of your finances by a lender and provides a conditional commitment for a specific loan amount.
Q: How much should I save for a down payment?
A: While the traditional down payment is typically 20% or thereabouts, there are many loan programs available that require as little as 3% down. We can guide you to explore these options and find the best fit for your financial situation.
Q: Can I get a mortgage with a low credit score?
A: Yes, there are mortgage options available for individuals with lower credit scores. We can help you understand these options and provide tips on improving your credit score to qualify for better terms.
Getting Started
Ready to take the next step? Contact CrystalOrbit Realty today and start your journey to homeownership with confidence.