A mortgage pre-approval is a process where a lender reviews your financial situation and credit history to determine the amount of money they are willing to lend you for a home purchase. To get pre-approved, you’ll need to provide financial documentation like tax returns, bank statements, and pay stubs to your lender. They’ll review your information and give you a pre-approval letter that you can use when making an offer on a home.

They help you find homes that meet your needs, negotiate the price and terms of the sale, and guide you through the closing process. A seller’s agent, on the other hand, represents the seller and is responsible for marketing and selling their property to potential buyers.

The timeline for buying a home can vary depending on several factors, including your financing, the housing market, and the type of property you’re looking for. On average, the home buying process takes between 30-45 days from the time you make an offer to closing. However, it can take longer if there are delays with financing, inspections, or other contingencies.

Earnest money is a deposit that you make as a show of good faith when making an offer on a home. It’s typically around 1-2% of the purchase price, but can vary depending on the market. If the seller accepts your offer, the earnest money is held in an escrow account and applied toward your down payment or closing costs. If the deal falls through, you may lose the earnest money, depending on the terms of the contract.