First-Time Homebuyer Questions in San Diego, Answered

No. Many loan programs allow much smaller down payments, though a larger down payment can reduce your monthly cost. Your lender can explain the options.

Pre-qualification is a rough estimate based on information you provide. Pre-approval involves a lender reviewing your documents and is a stronger signal to sellers.

Plan for closing costs, inspections, moving expenses, and ongoing costs such as taxes, insurance, dues and maintenance. Your lender will provide an estimate of closing costs.

There may be assistance programs for qualifying buyers, and eligibility depends on factors such as income and location. Programs change, so ask your lender and Rudy what is currently available.

It is a professional review of the home's condition, including major systems. It helps you understand what you are buying, and it can lead to repairs or negotiation.

A deposit you make when your offer is accepted, held in escrow and applied toward your purchase. Your agent will explain the amount and the conditions in your contract.

A neutral third party that holds money and documents until all conditions of the sale are met and the deal can close.

From accepted offer to closing, it often takes around a month, and the search before that varies. Your lender and agent can give you a realistic timeline.

It depends on your budget and how you live. Condos come with association dues and shared rules, while houses bring more maintenance responsibility. Rudy can help you compare.

Ask Rudy about how he is compensated and what your agreement will say. He will explain it clearly before you commit.