Oasis Real Estate

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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.