Homebuyers Expenses & Financing Q&A

Homebuyers Expenses & Financing Q&A

Contact a Local Loan Officer

  1. The first step in the process is to get with a mortgage lender. (Ask me about trusted loan officers)

    1. They will ask you a series of questions, that way they can know exactly how to guide you with financing.

  2. Getting pre-approved lets you know several important things:

    1. Certain homes qualify for Certain loans & Certain buyers qualify for Certain types of loans. We need to make sure you are shopping for the right home that qualifies for that loan. 

    1. This will us know what price range to shop in.

    1. Conventional loans 3% down

    2. FHA loan 3% down

    3. VA loan zero down

    4. Rural development loan zero down & must be outside the Lafayette city limits

    1. Closing costs can be paid for by the seller with an acceptable offer.

    1. What type of loan do you qualify for? 

    2. How much you qualify for?

    3. How much your down payment will be? 

    4. How much closing cost will be?

    5. How much Interest rate will be?

    6. If you don't qualify the lender can give you some homework to help bring up your credit. 

    7. Credit score, talk with the loan officer

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Home buying expenses in Acadiana

  • Deposit $500 - this is due as soon as we go under contract. (amount can change depending on the price of the home)

  • Inspection approx. $400 - due after inspection 

  • Appraisal $400 - $550 - due before Appraisal or will be part of closing cost. (Depending on the lender) make sure you ask the lender

  • Closing cost approximately  $5500. The lender will let you know.

  • Down Payment - Depending on what type of loan. (0 down, 3%, or 3.5%)

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