Homebuyer FAQs
Every buyer has questions — especially if you’re preparing to purchase in North County San Diego, the Inland Empire, or Metro Atlanta. This page covers the most common questions buyers ask during the pre-approval, home search, and escrow phases.
Getting Started
Do I need perfect credit to buy a home?
No. Many buyers qualify with scores in the 580–640 range depending on the loan program. If you want help improving your score before applying, our Credit Boost & Pre-Approval page walks through what to expect.
How much money do I need to buy a home?
It depends on the loan type and whether you use down payment assistance. Typical options include:
- FHA: 3.5% down
- Conventional: 3–5% down for most buyers
- VA: 0% down for eligible military buyers
You’ll also need to plan for closing costs, typically 2–3% of the price. Some buyers receive seller credits or use DPA to reduce this amount.
What’s the difference between pre-qualification and pre-approval?
Pre-qualification is a quick estimate.
Pre-approval is a verified review of your credit, income, and debts to determine what you can actually afford. Sellers strongly prefer pre-approval letters.
Loan Programs
Which loan is best for me?
The best loan depends on your credit, savings, income, and long-term plans. Visit:
Do VA buyers really need $0 down?
Yes, VA loans allow zero down. But VA buyers still have closing costs. Review the VA Down Payment Assistance page to learn how assistance and Valor Home Advantage can help reduce upfront costs.
Can I switch loan types after pre-approval?
Often yes. It depends on timing and whether switching impacts your approval or offer strategy. We can review scenarios anytime.
Down Payment Assistance
Is down payment assistance only for first-time buyers?
No. Some programs allow repeat buyers as long as you haven’t owned a home in the last 3 years. Others have higher income limits or special categories for military buyers.
Are there DPA programs in my area?
We cover three core regions with strong programs:
Can VA buyers use down payment assistance?
Yes — many programs allow assistance to be applied to closing costs or prepaid expenses. Full details are on the VA Down Payment Assistance page.
Home Shopping & Offers
How long does the home-buying process take?
Most buyers find a home in 2–8 weeks depending on market conditions, inventory, and budget. Escrow typically runs 21–30 days once your offer is accepted.
Should I buy or wait?
Timing depends on your job stability, financial readiness, and local market trends. You can review our Local Market Update for current data in your area.
How much should I offer on a house?
We build offers based on:
- Comparable sales
- List-to-sale price trends
- Days on market
- Seller motivation
- Your financing strategy
Your offer strategy is always customized to your market — Oceanside, Temecula, Murrieta, Menifee, Riverside, San Bernardino, or Metro Atlanta.
Escrow & Closing
What are closing costs?
Closing costs include lender fees, appraisal, escrow, title insurance, prepaid taxes, insurance, and interest. For a full breakdown, see Closing Costs Explained.
Can seller credits help?
Yes. They’re common in many Inland Empire and Atlanta markets and still possible in North County San Diego. Credits can cover closing costs or help with interest rate buydowns.
Will my payment change after closing?
Your payment may change if property taxes or insurance increase, or if your loan has mortgage insurance that may eventually drop off. We’ll walk through the long-term picture during your pre-approval.
More Buyer Resources
Ready to Take the Next Step?