Rentals will have an application fee; you should be able to see the financial requirements before you submit. Typical requirements are for gross income 3 X the rent and a minimum credit score. Once accepted, you will need to produce the security deposit/reservation funds and before you move in, supply the first months rent.
Initial costs for the buyer: the first cost may be Earnest money to prove to the seller that you are a serious buyer. This goes with the offer. Then, when the offer is accepted you may want to order a home inspection.
Home buyers should be pre-qualified for a mortgage loan before beginning a home search. Pre-qualification makes the offer to purchase and final approval process quicker. Once an offer is accepted, provide the lender with a copy of the contract for their estimate of closing costs. These will include your down payment - the lender will be able to tell you minimum requirements
Call, text or email for more information: Judy Hinch 757-816-8989, judy.hinch@cox.net