Emily Vannoy

Most of the time, you will qualify for more home than you’re comfortable making monthly payments for. A good rule of thumb is to keep the total housing payment (principle, interest, property taxes, homeowner’s insurance, mortgage insurance, and HOA dues) around 30% of your monthly income.

While there are loan programs for a credit score of 580, you’ll typically get a better interest rate if your score is 740 or higher.

There are a couple of ways to secure the lowest possible rate. First, have excellent credit (think of a credit score 800+). Second, put down a large down payment around 25%-30%. Third, choose a shorter loan term, such as 10 or 15 years.

Each situation is different. Depending on the location of the property and your income or military service, you could put down as little as 0%. Roughly 70% of Moore and Harnett counties are USDA eligible. Let me know if you have a specific property in mind.

Once you’re under contract on a property, it will likely take about 30 days to close.

Yes! Most agents will want to know how much you’re pre-approved for before they show you any houses. This way both you and your agent are looking for the perfect home in your budget.

Now is the perfect time to buy! Don’t miss out on a house you love because of an interest rate you can refinance later when rates are lower.