Financial

It depends on the loan type. FHA loans allow as little as 3.5% down. Conventional loans typically start at 5%, though 20% avoids private mortgage insurance (PMI). VA loans require zero down for eligible veterans and active military. Jumbo loans — common in Austin's higher-end markets — often require 10–20% or more, depending on the lender and the borrower's overall financial profile.

More than most people realize. VA loans are the most well-known — zero down for eligible veterans and active
military, with no private mortgage insurance and highly competitive rates. But there are also zero and very-low
down payment programs available for first-time homebuyers, and certain professions — including teachers, first
responders, and healthcare workers — may qualify for special assistance programs at the state or local level.
Texas in particular has strong first-time buyer programs through the Texas State Affordable Housing Corporation
(TSAHC) and the Texas Department of Housing and Community Affairs (TDHCA). If you think you might qualify, it's worth exploring before you assume you need to wait until you've saved a larger down payment.

Pre-qualification is a quick, informal estimate based on what you tell a lender. Pre-approval involves a full
application, credit pull, and document review — and carries real weight with sellers. In a competitive market, I
always recommend going a step further: ask your lender about full pre-underwriting, where a human underwriter has already reviewed your file. It's the strongest position you can be in before making an offer.

Your score affects both the rates you're offered and the loan types available to you. Generally, a score above 740
puts you in the best rate tiers. Scores between 620–740 still have solid options, though rates may be higher. If
your score needs work before you buy, knowing that early gives us time to plan around it — which is exactly the
kind of conversation I'm glad to have before you're ready to make a move.

Yes — and the earlier the better. Beyond knowing your budget, being pre-approved makes you a credible buyer the moment you find the right home. In Austin, desirable properties — especially those with hill country or lake views — can move quickly. The last thing you want is to fall in love with a home and then spend a week
scrambling to get your financing together.

More than most people realize. A 1% increase in your rate on an $800,000 loan adds roughly $500 to your
monthly payment and over $175,000 in interest over 30 years. That's why I encourage buyers to shop more than
one lender and to ask specifically about rate buy-downs and points — strategies that can meaningfully reduce
your long-term cost if you plan to stay in the home.

A buy-down lets you pay upfront (in "points") to lower your interest rate for the life of the loan — or for an initial
period. Whether it's worth it depends on how long you plan to stay in the home and how you want to deploy your cash at closing. It's one of those decisions that looks simple on the surface but has real math underneath it. Happy to walk through it with you.

Closing costs in Texas typically run 2–3% of the loan amount, covering things like title insurance, lender fees,
prepaid property taxes, and homeowner's insurance escrow. On a $900,000 purchase, that's roughly
$18,000–$27,000 in addition to your down payment. I always make sure buyers have a realistic picture of total
cash-to-close early in the process — no surprises at the finish line.

A bridge loan is short-term financing — usually 6 to 12 months — that lets you purchase your next home before
your current one sells. It's particularly useful when you've found exactly the right property and don't want to lose it
while waiting on your sale to close. They're not the right tool for every situation, but for the right buyer they can be the difference between getting the home and watching someone else move in.

Often yes, but the rules vary by loan type. Conventional and FHA loans generally allow gift funds from family
members, provided there's a paper trail. Jumbo loans can be more restrictive depending on the lender. It's worth asking your lender directly — and early — so there are no documentation surprises when you're under contract.

You can technically use any licensed lender, but local experience matters — especially in Texas, where real
estate transactions move on tight timelines and title companies, agents, and lenders who know each other can
make the difference between a smooth close and a stressful one. I work with a small group of Austin-based
lenders I trust, and I'm happy to make introductions based on your specific situation.