LEONARDO MONTENEGRO | DRE #01413476
LEONARDO MONTENEGRO | DRE #01413476
Frequently Asked Questions
Answers to common buying & selling questions
Buying
Start by getting clear on your budget, connecting with a trusted agent, and securing pre-approval. From there, you can tour homes, make an offer, complete inspections, and move through closing.
Pre-approval is a lender's conditional commitment showing how much you may be able to borrow. It helps you shop confidently and shows sellers that you are prepared to buy.
Down payment requirements vary by loan type. Some qualified buyers may use low down payment options, while others choose to put more down to lower their monthly payment.
Closing costs are the fees paid at the end of a real estate transaction. They can include lender fees, title services, escrow fees, taxes, insurance, and other settlement expenses.
Selling
Your home's value depends on recent comparable sales, condition, location, updates, and current market demand. A local pricing review can give you the clearest estimate.
Timing depends on pricing, local demand, property condition, and the buyer's financing. Many sellers plan for preparation, marketing, offer negotiation, inspections, and closing.
Not every renovation pays off before a sale. Focus first on repairs, cleaning, staging, and simple updates that help buyers see the home clearly.
It depends on your finances, timing, and comfort level. Some sellers need proceeds from their current home, while others may qualify to buy first or use a contingency strategy.
Financing
Credit score requirements vary by loan program and lender. A mortgage professional can review your full financial picture and explain which options fit best.
Common options include conventional, FHA, VA, USDA, and jumbo loans. The right fit depends on your income, credit, down payment, property type, and purchase goals.
Many financed purchases close in about 30 to 45 days, though timelines can vary based on loan approval, inspections, appraisal, title work, and contract terms.
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