FAQ

No, Moses Real does not provide real estate services in Oregon State.  Moses Mikhailenko is only licensed to practice real estate brokering in the State of Washington.

A down payment refers to the initial amount of money a buyer needs to put down on a property to secure a mortgage.

When you are financing a home (that is applying for a mortgage rather than paying for the property with cash), a down payment is a portion of the loan, generally ranging between 3% -- 20%, that you pay with cash.  For example, if you are approved for a $300,000 loan (that therefore being your "mortgage principal"), a 20% down payment would be $60,000 (300,000 multiplied by 0.20).

Get pre-approved by a bank or private lender!  This not only shows yourself real motivation to actually move forward with securing your first house, but it also provides you a realistic budget (or budget goal) that you can work with in the given moment.  Your pre-approved mortgage amount and rate(s) will help you decide whether or not this is a realistic time for you to buy the property you envision as your first house.