Frequently Asked Questions

1. How much do I need for a down payment?
Down payments vary based on loan type — conventional loans often require 3–5%, FHA loans as little as 3.5%, and VA loans may require no down payment at all. We’ll help you find the best fit based on your goals and finances.

2. What’s the difference between pre-qualification and pre-approval?
Pre-qualification is an estimate based on basic financial info, while pre-approval involves verifying your credit, income, and assets — giving you a stronger position when making an offer.

3. How do I know which loan is right for me?
That depends on your income, credit score, goals, and homebuying timeline. We’ll walk you through your options and match you with the loan program that best fits your needs.

4. What credit score do I need to qualify?
Most lenders look for a score of at least 620 for conventional loans, but FHA and other programs can work with scores as low as 580. The higher your score, the better your rate and options.

5. How long does the mortgage process take?
On average, it takes about 30 days from application to closing, though timelines can vary depending on your situation and the type of loan.

6. What are closing costs and how much should I expect to pay?
Closing costs typically range from 2–5% of the loan amount and include fees like appraisal, title insurance, and lender charges. We provide full transparency upfront so there are no surprises.

7. Can I buy a home if I’m self-employed?
Yes! We offer programs specifically designed for self-employed borrowers, including bank statement loans and other non-QM options.

8. Do I need mortgage insurance?
Mortgage insurance may be required if your down payment is less than 20% — though some loans, like VA, don’t require it at all. We’ll help you understand how it affects your payment and when it can be removed.

9. What’s the difference between a fixed-rate and adjustable-rate mortgage?
A fixed-rate mortgage keeps the same interest rate for the life of the loan, while an adjustable-rate mortgage (ARM) may start lower but can change over time. Each has pros and cons depending on how long you plan to stay in the home.

10. What documents will I need to apply?
Generally, you’ll need recent pay stubs, tax returns, W-2s, bank statements, and a valid ID. If you're self-employed or have other income sources, we’ll guide you on any additional documentation needed.