Financing

It depends on the loan. FHA loans can work with scores as low as 580 (sometimes lower with certain lenders), Conventional loans typically want 620+, and VA loans have no official minimum — lenders set their own floor, often around 580–620. Higher scores generally mean better interest rates, but a lower score doesn't automatically rule you out.

Less than most people think. Between a low-down-payment loan (3–3.5%) and down payment assistance programs, many buyers close with a few thousand dollars rather than tens of thousands. A lender can run your exact number in about 20 minutes.

Pre-qualification is a quick, informal estimate based on what you tell a lender. Pre-approval is the real deal — your credit and income are actually verified, and you get a letter sellers take seriously.

Typically 60–90 days, depending on the lender. If your home search runs longer, it's a quick refresh, not a full re-application.

Not always. Some New Mexico programs are reserved for first-time buyers (which includes anyone who hasn't owned a home in the past three years), but others, like NEXTHome-style programs, are open to repeat buyers too.

FHA is government-backed with more flexible credit requirements and a smaller down payment, but it carries mortgage insurance for most or all of the loan term. Conventional loans can have stricter credit requirements but let you drop mortgage insurance once you reach 20% equity.

Zero down payment, no monthly mortgage insurance, and competitive rates. For eligible service members and veterans, it's often the strongest loan option available, full stop.

Yes, most loan programs allow gifted funds, usually from a family member, with a simple letter documenting that it's a gift and not a loan to be repaid.

You still have options — FHA loans are built for this. And credit is fixable faster than most people expect. A good lender (or Liz) can point you toward specific, practical steps before you even start house hunting.

Before you start seriously touring homes. In this market, homes move quickly, and you don't want to fall for a house you can't yet make an offer on.

A bridge loan lets you buy your next home before your current one sells, using your current home's equity to cover the gap. It's a fit for a small slice of buyers — mainly those who need to move on a timeline that doesn't match their home sale.

Yes — including federal programs like HUD's Good Neighbor Next Door and lender-specific first responder discounts. Availability depends on location and lender, so this is worth a direct conversation.