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Frequently Asked Questions

How much do I need for a down payment on a home?

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%.

What’s the difference between pre-qualification and pre-approval?

How does my credit score affect my mortgage rate?

What are closing costs, and how much should I expect to pay?

How long does the homebuying process usually take?

What’s included in my monthly mortgage payment?