Welcome to a TMB Q&A. This episode is Part 2 of the most common questions we get asked from Fraser Valley home buyers.

Buying a home can be a confusing and complicated process. You may only go through the process a few times in your life. It's a process that continues to evolve with changing regulations and is full of terms you may not have heard before.

The purpose of this series isn't to answer all of your home buying questions (every situation is too unique for that) but, we will answer the most common questions we get asked from home buyers like you.

In this episode we answer:

• What is the difference between a mortgage pre-qualification and a mortgage pre-approval?

• Should I get a fixed-rate or a variable-rate mortgage?

• What does a mortgage stress test mean and what does it do?

• What's the difference between a deposit and a downpayment?

• How much money do I need for a downpayment?

• How much do I have to pay an agent to help me buy a home?

If you have a question you'd like us to answer ... leave it in the comment section or send it to us at hello@TMBrealestate.com.