Homebuyer FAQs: Your Most Common Questions Answered About Buying a Home

Common Questions Answered About Buying a Home

If you're thinking about buying a home, you probably have a lot of questions. I hear the same concerns from homebuyers every day—whether it’s about job changes, down payments, or the differences between pre-approval and pre-qualification. Today, I’m answering some of the most common questions I get from people just like you. Let’s dive in!

1️⃣ Can I Buy a House If I'm Changing Jobs?

Yes, it’s definitely possible to buy a home even if you’re changing jobs! The most important factor is proving that your new job is secure and that you’ll be earning a stable income. If you haven’t started your new job yet, there may be some challenges, but don’t worry—I can help you work through your situation.

Keep in mind that lenders want to see continuity in your employment, so it helps if your new job is in the same field or industry. If you’re changing industries, we may need to look at other factors to strengthen your application. Let’s talk about your options if this applies to you!

2️⃣ Do You Need to Sell Your Current Home Before Buying the Next One?

Not always! Whether or not you need to sell your current home before purchasing your next one depends on your individual situation. In many cases, it’s possible to buy your next home before selling the one you're in—especially if you have enough savings or assets to cover both homes for a short time.

We’ll look at your financial situation and the type of loan you’re using to determine the best approach. If you’re unsure, don’t worry—together, we’ll explore your options and come up with a strategy that works best for you.

3️⃣ Pre-Approval vs. Pre-Qualification: What’s the Difference?

Great question! Understanding the difference between pre-approval and pre-qualification can be a game-changer when you’re ready to buy.

• Pre-qualification is a fast process that gives a general idea of what you might be able to afford. It’s based on the information you provide me, like your income, debts, and assets. Think of it as a ballpark figure, but not a guarantee. It’s a good starting point, but we’ll need to dive deeper for a final answer.

• Pre-approval carries more weight. During this process, I’ll verify your finances by reviewing documents like pay stubs, tax returns, and bank statements. A pre-approval letter shows sellers that you’re serious and ready to make an offer, giving you a 99.9% confidence level that you’re ready to buy.

Let’s Make Your Home Buying Journey a Success

These are just a few of the most common questions I get from homebuyers, and I’m here to help answer more! At Your Hometown Lender, I specialize in helping you navigate the mortgage process and make your home buying experience as smooth as possible.

If you’re ready to take the next step or have more questions, reach out today. I’m happy to discuss your specific situation and help you get pre-approved for your dream home!

Contact me today