FAQ
FAQ
Frequently Asked Questions
Am I Ready to Be a Homeowner?
You may be ready to buy a home if you have stable income, manageable debt, savings for a down payment and closing costs, and a desire to stay in one place for several years. A real estate professional can help you evaluate your readiness and explore your options.
Is Renting or Buying Better?
Renting offers flexibility, while buying allows you to build equity and long-term stability. The best choice depends on your financial situation, lifestyle, and future plans. I can help you compare both options to decide what works best for you.
What Is the Lender's Formula?
Lenders typically evaluate your income, credit score, debt-to-income ratio, and employment history. These factors help determine how much you can comfortably borrow while maintaining financial stability.
What Do I Look for in Homes?
Focus on location, price, condition, layout, and future value. It’s also important to consider your lifestyle needs, commute, schools, and neighborhood amenities.
Do I Need a Home Warranty?
A home warranty can help cover repairs or replacement of major systems and appliances. While not required, it can provide peace of mind especially for first-time buyers.
What Should I Expect at Closing?
At closing, you’ll review and sign final documents, pay closing costs, and officially receive ownership of the property. I’ll guide you through each step so there are no surprises.
What Is Pre-approval?
Pre-approval is a lender’s written confirmation of how much you can borrow based on your financial information. It strengthens your offer and shows sellers you are a serious buyer.
Am I Ready to Rent?
You’re ready to rent if you have proof of income, good rental history, and savings for deposits and initial costs. Renting can be a smart step while planning for future homeownership.
What Should I Offer?
Your offer should reflect the home’s market value, condition, and current competition. I provide market analysis and strategic advice to help you submit a strong, competitive offer.
Can I Ask You for Advice?
Absolutely. Whether you’re buying, selling, renting, or just exploring your options, I’m here to provide honest guidance and answer your questions every step of the way.
Lorna Jeannette Hewitt Realty Group is committed to providing professional, honest, and results-driven real estate services.
Lorna Home Team
