Educational Guides (first-time buyer tips, closing costs explained, etc.)

At Egner Real Estate, our commitment to you doesn’t end when you get the keys or close the sale. Buying or selling a home is a major life decision, and it’s important to us that you never feel like you're left in the dark. We stay in contact, answer your questions, and help you understand each part of the process — so you feel confident and supported from start to finish. Whether you’re still exploring your options or you’ve already signed on the dotted line, we’re here for you.

Common Questions Carlton Gets Asked — and the Answers

How much can I afford?

This depends on your income, current debts, credit score, and how much of a down payment you’re planning to make. A lender can help you calculate this in more detail, but as a general rule, aim to keep your mortgage payment (including taxes and insurance) under 30% of your gross monthly income.

How much will my monthly payment be?

Your monthly payment will typically include your loan principal, interest, property taxes, homeowners insurance, and possibly PMI (Private Mortgage Insurance). Your lender can give you a more exact estimate based on the price range you're considering.

How much money will I need to buy a home?

This can vary depending on the type of loan, the price of the home, and other factors. You’ll usually need enough for a down payment (which can range from 0% to 20%+), closing costs (around 2-5% of the purchase price), and upfront expenses like inspections or appraisals.

What is down payment assistance?

Down payment assistance programs are designed to help first-time buyers or qualifying individuals with funds toward their down payment or closing costs. These can come from state or local programs, lenders, or nonprofit organizations.

What is PMI?

PMI stands for Private Mortgage Insurance. It’s typically required when your down payment is less than 20%. It protects the lender in case you default on the loan, but can often be removed once you reach 20% equity in the home.

Why should I buy when I can rent?

While renting can be flexible, buying gives you the opportunity to build equity, enjoy tax benefits, and have more control over your living space. Instead of paying your landlord’s mortgage, you’re investing in your own future.

How long does it take to buy a home?

On average, it takes 30-45 days from the time your offer is accepted to closing. The timeline can vary depending on the lender, inspections, and negotiations. We help guide you through the process to avoid delays.

What qualifies me as a first-time homebuyer?

If you haven’t owned a home in the last three years, you may qualify as a first-time homebuyer — even if you’ve owned property in the past. This can open the door to special loan programs or down payment assistance.

What’s the difference between FHA and Conventional loans?

FHA loans are backed by the government and tend to have more flexible credit and down payment requirements. Conventional loans are not government-backed and typically require higher credit scores and larger down payments, but can save you money in the long run if you qualify.

Are taxes and insurance included in my payment? What is an escrow account?

Yes, in most cases. Taxes and insurance are collected monthly as part of your mortgage payment and held in an escrow account by your lender. When those bills are due, your lender pays them for you from that account.

Can you explain closing costs to me?

Closing costs are the fees you pay when the transaction is finalized. They can include lender fees, title and escrow services, prepaid property taxes, homeowner’s insurance, and more. They typically total around 2-5% of the home’s purchase price.

A Final Word of Advice

Owning real estate is one of the smartest financial moves you can make. Not only can your home appreciate in value over time, but you also gain tax benefits like mortgage interest deductions and property tax write-offs. Real estate builds wealth — plain and simple. Our goal is to make sure you understand the “why” behind your decision and feel prepared for every step.

Have more questions? Don’t hesitate to reach out. We’re here to educate, empower, and support you long after the deal is done.

Carlton Egner | Agent & Owner

Phone #(208) 571 - 0009

Email Carlton@EgnerRealEstate.com

Avah Egner | Transactional Coordinater & Marketing Director

Phone #(208) 867 - 9515

Email Avah@EgnerRealEstate.com