The questions everyone asks.
Answered straight.

What credit score do I need to buy a home?

There isn't one magic credit score you have to have to buy a house. Different loan programs have different requirements, and your credit score is only one piece of the puzzle. So please don't look at your Credit Karma score and automatically decide you can't buy a house. Let us take a look first. If you're ready now, amazing. If you're not, we'll tell you exactly what you need to work on to get there.

How much house can I afford?

I actually prefer a different question: what monthly payment are you comfortable with? Just because you CAN qualify for a certain amount doesn't mean you need to spend that much. Tell us the payment you're comfortable making every month, and we'll work backward from there to figure out what purchase price makes sense.

What is actually included in my monthly mortgage payment?

Your total payment can include principal, interest, property taxes, homeowners insurance, mortgage insurance, and sometimes HOA dues. And when we talk about your payment, we want to talk about the REAL payment, not just principal and interest, not a cute little online calculator that forgot half the expenses. We want you to know what you can actually expect to pay every month.

I don't think I'm ready to buy yet. Should I still apply?

YES. You do not have to have perfect credit. You do not need $50,000 sitting in the bank. And you definitely don't need to have everything figured out before you talk to us. Some people call us and find out they're ready right now. Others need 30 days, six months, or even a year. Either way, now you have a plan. No judgment, no pressure, just real numbers and a plan to get you where you want to go. That's what we're here for.

How much money do I actually need to buy a house?

Usually less than people think. What you need depends on your loan program, down payment, closing costs, seller credits, and whether you qualify for down payment assistance. Some qualified buyers may even have options with little to no down payment. Before you start looking at houses, we'll break down your estimated monthly payment AND cash to close so you know what the numbers actually look like.

Do I really need 20% down?

NO. Please do not wait years to save 20% because somebody told you that's what you need to buy a house. Depending on the loan program, qualified buyers may have options ranging from 0% down to 3%, 3.5%, 5%, or more. We'll show you the different options and help you figure out which one makes the most sense for YOU.

Are there down payment assistance programs in South Carolina?

YES! And this is one of our specialties. SC Housing offers homebuyer assistance programs that can help eligible South Carolina buyers with their down payment and/or closing costs. Down payment assistance is not necessarily just for first-time homebuyers, SC Housing offers different programs with different requirements, so even if you've owned a home before, there may still be options available to you. Qualification can depend on things like your credit score, income, purchase price, property location, and the specific loan program we're using. This is an area we know REALLY well, our team works with SC Housing buyers all the time, and Ashton was the #1 SC Housing Loan Officer in South Carolina last year. So please don't try to Google your way through 47 different program guidelines and decide whether you qualify. Let us do that part. We'll look at your entire situation, compare the available options, and show you what your estimated monthly payment, assistance, and total cash to close could look like.

What's the difference between FHA, Conventional, VA, and USDA loans?

They're simply different mortgage programs with different guidelines and benefits. FHA can be a great option for buyers who need more flexibility with credit or down payment. Conventional offers several flexible financing options. USDA may offer 100% financing on eligible properties, and VA loans offer some incredible benefits for eligible veterans and service members. You don't need to know which loan you need before you call us, that's our job. We'll compare the options you qualify for and explain the numbers in plain English so you can make the decision that works best for you.

Will getting pre-approved hurt my credit?

A full mortgage pre-approval typically involves a credit inquiry, but please don't let fear of a credit pull keep you from figuring out whether you can buy a house. Knowing where you ACTUALLY stand is way more helpful than guessing. We can review your credit, income, debts, and assets and give you an actual game plan.

How long does it take to get pre-approved?

Usually pretty quickly once we have your application and the documents we need. Every buyer is different though, some files are super straightforward, while others need a little more digging. We would much rather do the work upfront and give you a solid pre-approval than rush through it and find a problem after you've already fallen in love with a house.

What documents am I going to need?

For most buyers, we'll need documentation showing your income, employment, assets, and identity, things like paystubs, W-2s, bank statements, and sometimes tax returns. If you're self-employed, own rental properties, receive variable income, or have a more complicated financial situation, we may need a little more. Don't worry about figuring it all out yourself, once we review your application, we'll tell you exactly what we need.

How much are closing costs?

Your down payment and closing costs are two different things. Closing costs can include things like lender fees, attorney/title expenses, appraisal fees, taxes, homeowners insurance, and other costs associated with purchasing the home. The amount varies from loan to loan, which is why one of the first things we do is estimate your TOTAL cash to close, because nobody likes a surprise when it involves thousands of dollars.

Can the seller pay my closing costs?

YES, in many cases! Depending on your loan program and how your offer is structured, the seller may be able to contribute toward your allowable closing costs. This can be a HUGE help if you have money saved but don't necessarily want to drain your entire savings account to buy a house. We can work with you and your real estate agent to figure out how to structure the numbers.

Should I pay off my debt before I apply?

Please don't start paying things off just because you think it will help. Sometimes paying down a particular debt can make a huge difference. Other times, you could spend thousands of dollars paying something off that barely changes your qualification. Let us run the numbers FIRST, we want to use your money strategically, not just start throwing it at debt.

What should I NOT do once I'm pre-approved?

This one is important. Please don't go finance a new car. Don't open a furniture credit card because you're excited about your new living room. Don't start moving large amounts of money around. Don't run up your credit cards. And please don't quit your job without calling us first. Basically, if you're making a major financial change while you're buying a house, call us BEFORE you do it, we would much rather answer a two-minute question than spend two days trying to fix a problem.