Buy with cash or third-party mortgage financing and receive title at closing.
From preapproval to offer
A lender preapproval can clarify a tentative budget but is not final approval. Offers may include financing, inspection, appraisal, sale-of-home, or other contingencies.
Cash beyond the down payment
Plan for closing costs, inspections, appraisal, prepaid taxes and insurance, possible mortgage insurance, moving, repairs, and reserves.
Closing and ongoing costs
At closing, funds and documents are exchanged and title transfers. Ongoing costs can include principal, interest, taxes, insurance, HOA dues, utilities, and maintenance.
Questions to bring to a professional
- Is buying optional or required, and exactly how is that stated?
- What cash is refundable, credited, or at risk?
- Which payment amount excludes taxes, insurance, fees, or maintenance?
- What title search, inspection, appraisal, recording, or disclosure steps apply?
- What happens after default, a missed deadline, or inability to refinance?
Important: No universal credit score, down payment, interest rate, or approval rule applies. Do not rely on an example as an offer.