Frequently asked questions

Most lenders follow the 28/36 rule: your housing payment shouldn't exceed 28% of gross monthly income, and total debt shouldn't exceed 36%. With $6,000/month income, you could afford approximately $1,680/month for housing.

Minimum scores vary by loan type:

• • VA: No minimum (lenders typically require 620+)
• • FHA: 580+ (3.5% down)
• • Conventional: 620+

With complete documentation, most buyers receive pre-approval within 24-48 hours. Pre-approval letters are valid for 60-90 days and show sellers you're a qualified buyer.

VA: 0% for eligible veterans • FHA: 3.5% • Conventional: 3-20%

Nevada closing costs typically range 2-5% of purchase price, including lender fees, appraisal, title insurance, and escrow fees.