Oasis Real Estate

more information on

Buying

Tell us about your dream home

Get the Complete Homebuyer's Guide

There are certain criteria that need to be met in order to qualify to secure a home loan for the purchase of a home. The best way to see if you have everything you need is to schedule a free consultation with one of our expert real estate agents. Use this link to book a call: Click Here

Your affordability is determined by factors like income, expenses, credit score, and mortgage rates. A common guideline is that your monthly housing costs should not exceed 28-31% of your gross income.

Pre-qualification is an estimate, while pre-approval involves a detailed financial review. Pre-approval gives you a stronger position when making an offer.

While 20% is a traditional benchmark, many lenders accept lower percentages. FHA loans, for example, may require as little as 3.5% down.

The process can take anywhere from a few weeks to several months. Factors include market conditions, mortgage approval timelines, and negotiations.