Frequently asked questions

Simply, eXp was chosen as the name by eXp World Holdings Founder and CEO Glenn Sanford and other leaders who started the company in 2009 because it is the prefix for many words that represent values that eXp Realty stands for. For example, words like “excellence,” “exceptional,” “expectations,” “exposure,” “experts,” “exploration,” “expeditiously” and “experienced” are all positive words that support eXp Realty’s core values of integrity, community, service, sustainability, collaboration, innovation, being agile and lastly, fun! https://www.youtube.com/watch?v=MiyST6aOlwE

Start by getting pre-approved! This helps you know your price range and set a mortgage budget you’re comfortable with.

The timeline depends on how quickly you find the right home and get your offer accepted. Once in contract, the average escrow period is about 30 days.

A REALTOR® is your most valuable asset when buying a home. They will walk you through every part of the home buying process. They will educate and inform you of all your options. They will represent you throughout the transaction and beyond.

No, you don’t pay anything upfront. The seller typically covers the commission, which is then split between their agent and yours.

Generally loan institutions look for a minimum of 620, but there are programs offered by other agencies that may go lower depending on the circumstances. The lower the credit score the higher the interest rate.

Yes, making key repairs can help you get the price you want. A move-in-ready home often attracts more buyers and better offers. Your agent can guide you on which updates will make the biggest impact.

Conventional loans are usually require a 20% downpayment. There are programs that offer as low as about 3% down. Your loan officer can help advise you on your best options.

The downpayment is usually the largest cost associated with buying a house. Lending fees are the second largest costs to homebuyers. Most lenders will charge between 2% to 4% of the loan amount for loan origination fees, depending on the loan type. Conventional loans usually have lower loan origination fees, but require more money down. Your loan officer will be able to help you determine how much you can expect to pay towards loan origination and closing cost.

The seller makes a choice as to which offer they want to accept. Your agent can help you set yourself up for success and put your best foot forward.