A common rule of thumb is spending no more than 28% of your gross monthly income on housing costs. Your lender will look at your income, debts, and down payment to calculate your specific number.

Pre-qualification is a quick estimate based on self-reported information. Pre-approval involves a lender verifying your finances and pulling your credit, giving sellers a stronger signal that you're a serious, capable buyer.

Higher credit scores typically qualify for lower interest rates, which can save you thousands over the life of your loan.

Only under conditions outlined in your contract's contingencies (financing, inspection, appraisal). Backing out outside of those terms can risk your earnest money.

PMI is insurance that protects the lender if you default, typically required when your down payment is under 20%. It can be avoided with a larger down payment or removed once you reach 20% equity.

Fixed-rate loans keep the same payment for the life of the loan, offering stability. Adjustable-rate loans often start lower but can change over time, which may suit buyers planning to move or refinance within a few years.

A deposit showing you're serious about the offer, usually 1-3% of the purchase price. It's applied toward your down payment or closing costs at closing.

Yes. An inspection uncovers issues that aren't visible during a showing and gives you room to negotiate repairs or price before closing.

From offer acceptance to closing typically takes 30-45 days, depending on financing and any issues that arise during inspection or appraisal.

You can renegotiate the price with the seller, pay the difference in cash, challenge the appraisal, or, in some cases, walk away if you have an appraisal contingency.

Pricing is based on a comparative market analysis of similar recently sold homes in your area, current market conditions, and your home's condition and features.

Focus on high-impact, low-cost fixes: touch-up paint, deep cleaning, minor repairs, and curb appeal. Save major renovations for issues that would concern buyers or appraisers.

It's not required, but a pre-listing inspection can help you address issues upfront and avoid surprises during the buyer's inspection.

List price is what you're asking; market value is what buyers are actually willing to pay, based on comparable sales and demand.

This varies by market conditions, price, and location, but your agent can give you a realistic estimate based on recent local activity.

Showings are scheduled visits for individual buyers, while open houses invite the public during a set window. Your agent handles scheduling and follow-up with interested parties.

Typically includes agent commission, title fees, transfer taxes, and any negotiated buyer concessions—often 6-10% of the sale price total.

It depends on your finances and the market. Selling first avoids carrying two mortgages; buying first avoids the pressure of a tight timeline, but may require bridge financing.

Your agent handles pricing strategy, marketing, negotiations, paperwork, and coordination with lenders, inspectors, and other agents—guiding you through the entire transaction.

Commission is typically paid by the seller at closing and split between the listing and buyer's agents; exact terms are negotiable and outlined in your agreement.

A listing agent represents the seller's interests; a buyer's agent represents the buyer's. Each has a duty to advocate for their respective client.

Look for local market knowledge, strong communication, a track record of recent sales, and someone whose approach matches how involved you want to be in the process.