Last updated: August 2026
Realtor FAQ Library
Fast, plain-language answers for the questions that surface before the showing, inside the offer, and on the road to closing.
Realtor questions
Preapproval & buyer readiness
Start with what the letter does—and what still needs to be protected.
What is the difference between a prequalification and a preapproval?
The words are used differently across lenders. In practice, ask what was actually reviewed: credit, income, assets, debts, occupancy, property assumptions, and supporting documents. Neither one is a final approval or commitment to lend.
How long is a preapproval good for?
There is no universal expiration date. Credit reports, income documents, asset statements, program rules, and the buyer’s situation can age or change. The file should be refreshed before an offer if anything material has changed or the lender requests updated documents.
Does getting preapproved hurt the buyer’s credit?
It depends on whether the lender uses a soft or hard credit inquiry and where the buyer is in the process. The buyer should ask what type of inquiry will be used before authorizing it.
Read the full credit-check answerWhat changes should a buyer report before closing?
Employment or pay changes, new debt, new credit, large purchases, co-signing, account changes, unusual deposits, moved funds, gift funds, property changes, and contract changes should be reported right away. A small-looking change can affect documentation or qualification.
Realtor questions
Offers, cash & seller credits
Structure the request around the real costs—not a generic maximum.
Can the seller pay the buyer’s closing costs?
Often, yes. The allowed amount and eligible uses depend on the loan program, occupancy, down payment or LTV, actual costs, appraisal, and contract. The lender should calculate the usable credit for the specific offer.
Open the Seller Concession Quick GuideWhat happens if the seller credit is higher than the buyer’s eligible costs?
The excess does not normally become cash in the buyer’s pocket. Depending on the program, contract, timing, and lender approval, the parties may need to reduce the credit or restructure eligible costs before closing.
Can a seller credit pay discount points or a temporary buydown?
It may be possible when the loan program permits it and the cost fits within the applicable contribution rules. The lender should price the structure and confirm qualification, disclosures, and available credit before the contract relies on it.
See how temporary buydowns workHow much seller credit should an agent request?
Start with a current estimate of the buyer’s eligible costs and priorities. The maximum allowed percentage can be much higher than the amount the buyer can actually use, so the request should be deliberate—not automatic.
Does earnest money count toward the buyer’s cash to close?
Documented earnest money is generally credited within the closing figures, but the source, cleared payment, contract, and any refund must be documented. The lender and title company should confirm how it appears in the final cash-to-close calculation.
Realtor questions
VA offers & appraisals
Clear the myths before they shape the negotiation.
Does zero down mean the VA buyer needs no money?
No. The buyer may still need funds for earnest money, inspections, appraisal-related expenses, closing costs, prepaid taxes and insurance, reserves, moving, or repairs. Seller or lender credits may help, but the cash plan should be built before the offer.
Do VA loans automatically take longer to close?
No. Documentation, lender workflow, appraisal timing, property issues, title, insurance, and team communication affect the closing timeline. A VA loan should be timed from the actual scenario—not a stereotype.
Read the VA timeline answerWhat happens if the VA appraisal may be coming in low?
The appraiser may invoke Tidewater before completing the report, giving designated parties a limited opportunity to provide relevant market data. After a value is issued, a Reconsideration of Value may be available when supported by appropriate information. Neither process guarantees a higher value.
Review the VA appraisal processCan a Veteran have two VA loans at the same time?
Sometimes. Remaining entitlement, prior-loan status, occupancy, purchase price, location, qualification, and any required down payment must be reviewed from the current Certificate of Eligibility and full scenario.
Read the remaining-entitlement answerRealtor questions
Specialty buyers & properties
Bring the scenario early when the income or property does not fit a standard box.
Can a self-employed buyer qualify for a mortgage?
Yes, when the borrower meets an available program’s requirements. The best first step is usually a correct traditional income review; eligible bank-statement or other alternative-documentation programs may be considered when appropriate.
Read the self-employed buyer guideCan a buyer purchase before selling the current home?
Possibly. The lender must review the current mortgage, expected sale, available equity, reserves, qualifying income, debts, occupancy, and the buyer’s cash plan. A signed contract or expected proceeds should not be assumed to solve the qualification automatically.
Explore buy-before-sell considerationsCan gift funds be used?
Many loan programs allow eligible gifts, but the acceptable donor, required borrower contribution, documentation, transfer, and eligible use vary. The buyer should not move the gift until the lender gives instructions.
Read the gift-funds guideIs down payment assistance always a grant?
No. Assistance may be a grant, forgivable loan, deferred-payment loan, or repayable second mortgage. Availability, repayment triggers, income limits, education, rates, and first-mortgage rules should be reviewed before the buyer relies on the assistance.
Compare common assistance structuresCan a manufactured home be financed?
Yes, when the borrower, home, land or lease, title, foundation, additions, appraisal, and transaction meet an available loan program. The year built and how the home is legally classified can matter, so the property details should be reviewed before the offer.
Open the manufactured-home program pageThe scenario still gets the final word.
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