The amount you need for a down payment depends on the type of loan and your financial situation. While 20% is a common benchmark, many buyers put down less—some conventional loans allow as little as 3%, and FHA loans require just 3.5%.

Pre-qualification is an early, informal estimate of how much you might be able to borrow. It’s usually based on information you share with a lender like your income, debts, and credit range. Plus, they typically doesn’t require documentation or a full credit check. It’s a helpful first step when you’re just starting to explore your budget.

Pre-approval is a more detailed and reliable step. The lender reviews your financial documents (such as pay stubs, tax returns, and bank statements) and runs a full credit check. You’ll receive a pre-approval letter stating the loan amount you’re approved for, which shows sellers you’re a serious and qualified buyer.

In short:
Pre-qualification helps you plan. Pre-approval helps you compete and is strongly recommended before making an offer in today’s market.

 

Your credit score plays a major role in determining your mortgage interest rate. In general, the higher your score, the lower the interest rate you’ll qualify for. Lenders use your credit score to evaluate risk. Strong credit signals a history of on-time payments and responsible borrowing, which can result in better loan terms.

Even a small difference in your credit score can impact your monthly payment and the total interest you pay over the life of the loan. Borrowers with lower scores may still qualify for a mortgage, but often at a higher rate or with additional requirements.

The good news is that many credit factors are fixable. Paying down balances, avoiding new credit inquiries, and making all payments on time can help improve your score (sometimes faster than people expect). I’m always happy to connect buyers with trusted local lenders who can review your credit and help you understand your options before you start shopping.

Closing costs are the fees and expenses required to finalize a real estate transaction. They cover things like lender fees, title services, escrow, appraisals, inspections, prepaid taxes, and homeowners insurance. These costs are separate from your down payment and are paid at the closing table.

For buyers in Florida, closing costs typically range from about 2%–5% of the purchase price, depending on your loan type, the lender you choose, and the specifics of the transaction. Sellers also have closing costs, which may include title fees, documentary stamp taxes, and real estate commissions.

The exact amount will vary, but your lender will provide a Loan Estimate early in the process and a Closing Disclosure before closing so there are no surprises. I help my clients review these numbers ahead of time and explore options, such as seller credits or lender programs to help reduce out-of-pocket expenses whenever possible.
 
 
 

On average, the homebuying process takes about 30–60 days from contract to closing once you’re under agreement. That timeline can vary depending on factors like your loan type, the lender, the appraisal, inspections, and how smoothly negotiations move.

Before that, the timeline depends on how long it takes to find the right home. Some buyers find a property quickly, while others take a few weeks or months as they explore options and wait for the right fit.

The process generally looks like this:

Get pre-approved with a lender
Tour homes and submit an offer
Complete inspections and appraisal
Finalize loan approval
Close and get the keys

I help keep everything on track by coordinating with lenders, inspectors, and title companies, and by keeping you informed at every step. Then the process feels organized, not overwhelming.

Yes! Many self-employed buyers and those with irregular income successfully purchase homes. The process is a bit different, but absolutely doable with the right preparation and lender.

Instead of traditional pay stubs, lenders typically look at tax returns, profit-and-loss statements, and bank statements to verify income. Most loan programs require a two-year history of self-employment or consistent income, though some lenders offer alternative programs that are more flexible.

Because income is reviewed carefully, planning ahead is key. Keeping organized records, minimizing large write-offs right before applying, and working with a lender experienced in self-employed loans can make a big difference.

Nadia and I regularly work with buyers who are business owners, contractors, and commission-based professionals. I’m happy to connect you with trusted lenders who understand non-traditional income and can walk you through your options.

Your monthly mortgage payment is typically made up of four main components, often referred to as PITI:

Principal – The portion of your payment that goes toward paying down the loan balance.
Interest – The cost of borrowing the money from the lender.
Taxes – Property taxes assessed by the local government, usually collected monthly and held in escrow.
Insurance – Homeowners insurance, also commonly paid through escrow to protect your home.

Depending on your loan and property, your payment may also include:

Mortgage insurance (PMI or MIP) if your down payment is below a certain percentage
HOA or condo fees (these are usually paid separately, not to the lender)
Your lender will provide a clear breakdown before you close so you know exactly what to expect. I also help buyers review these numbers upfront so there are no surprises and you feel confident about your monthly payment before moving forward.
 
 
 

A 2-1 buydown is a temporary interest rate reduction that helps lower your mortgage payment during the first two years of your loan. It’s often used as a negotiation tool and is typically funded by the seller, builder, or sometimes the lender.

Here’s how it works:

Year 1: Your interest rate is 2% lower than your permanent rate
Year 2: Your interest rate is 1% lower than your permanent rate
Year 3 and beyond: Your loan adjusts to the full, original interest rate for the remainder of the term

The reduced payments in the first two years can make homeownership more affordable upfront and give buyers time to adjust to payments, increase income, or plan for a future refinance if rates drop.

A 2-1 buydown doesn’t change the total loan amount or eliminate interest, it simply spreads some of the cost forward by using a credit at closing. Not all loan types or situations qualify, so it’s important to review this option with a lender.

I help buyers determine when a 2-1 buydown makes sense and how to negotiate it strategically as part of the overall deal.