Homebuyer Resources

The first thing to do when looking to purchase a house is to get pre-approved for a mortgage. This is helpful in determining your price range, programs available, down payment necessary, and most importantly shows potential sellers you are qualified and serious about buying. If you prefer to meet with the Sly team first and walk through the process of buying, we welcome the opportunity!

Need a lender referral? Tony and Angie can share preferred lenders!

From accepted Purchase Agreement to closing day (possession) it takes an average of 45 days.

The professional fee earned by your Realtor is generated by the seller of the house you purchase. That fee is shared between the listing agent and your realtor/buying agent.

Our parents had us thinking 20% was required. IT IS NOT! Some clients have purchased homes through grant programs with little or no money down. How much will you need? It’s a great question for a lender! There are different loan types and programs, each with specific requirements. We suggest having phone interviews with a few lenders to learn more about what fits your situation.

A FICO score of 620 or higher is required for most loan programs. It is not uncommon to find lenders who will approve buyers with scores less than that, however a higher down payment may be needed. Borrowers with higher credit scores represent less risk to the lender and may not need as much for down payment.

Earnest money is a payment sent with an official offer to represent to the seller your genuine and serious about purchasing the house. We have seen earnest for $500 and in some situations in the thousands. Rest assured, the Sly team will guide you every step of the way. When your offer is accepted, earnest money will be deposited and credited to the purchase of your new home.

This number can vary and the timeframe should be stipulated in the offer. 

Yes, absolutely! Many loan programs, like the FHA and VA loans, require a home inspection. However, even if it is not required by your lender it is still highly recommended because they can reveal easily overlooked defects in the house. A good home inspection will bring peace of mind to one of the largest investments of your lifetime.

We highly recommend it! This is an opportunity to assure nothing has changed in the house since the offer was accepted. It is also the prime time to confirm all repairs and replacements agreed upon on the Inspection Addendum were complete.