Mortgage FAQs

There isn't a single "best" mortgage for everyone. The right loan depends on your credit score, down payment, income, military status, property type, and long-term financial goals. Our loan experts compare multiple lenders and loan programs to help you find the financing option that best fits your situation.

The required down payment depends on the loan program.

- Conventional loans may require as little as 3% down for qualified buyers.

- FHA loans require as little as 3.5% down.

- VA and USDA loans may offer 100% financing for eligible borrowers.

- Jumbo and investment property loans typically require larger down payments.

We'll help you determine the minimum down payment available based on your qualifications.

Minimum credit score requirements vary by lender and loan program. Some government-backed loans allow lower credit scores, while conventional and jumbo loans often require stronger credit. Even if your credit isn't perfect, you may still have financing options available.

Yes. Self-employed borrowers have several financing options. Depending on your situation, you may qualify using tax returns, bank statements, business financials, or alternative documentation through Non-QM loan programs.

Many borrowers can receive a pre-approval within one business day after providing the necessary documentation. The full mortgage process—from accepted offer to closing—typically takes about 30 days, although timing varies depending on the loan program, appraisal, and underwriting.

A pre-qualification is a basic estimate based on information you provide.

A verified pre-approval is much stronger. Your income, assets, and credit are reviewed before you shop, giving sellers greater confidence that your financing is solid and making your offer more competitive.

Many first-time buyers choose FHA or Conventional loans with low down payment options. Depending on your income, military service, location, or profession, you may also qualify for down payment assistance or special financing programs. We'll help you compare every available option.

The term "First-Time Homebuyer Loan" is used very liberally in the mortgage industry. It can mean many different thinks, depending on who you are talking to. While there are benefits to being a first-time homebuyer, loans must still conform to industry guidelines. You do not have to be a first-time homebuyer to get an FHA loan, but FHA loans are the loan type most commonly used by First-Time Homebuyers because they are generally easier to qualify for.

Many people get sucked into getting the lowest interest rate without any regard for the many other numbers involved in owning a home. Lower interest rates can me more closing costs or higher mortgage insurance. Sometimes, having a lower interest rate results in a higher monthly payment because of the other associated fees. The best thing to do is compare loan options side-by-side and see which option best aligns with your goals (Lowest monthly payment, lowest cash to close, lowest lifetime cost of loan, etc.)

Not always.

- Conventional loans may not require mortgage insurance if your down payment is large enough or once sufficient equity is reached.

- FHA loans include mortgage insurance requirements.

- VA loans do not require monthly mortgage insurance.

- USDA loans have a lower annual guarantee fee instead of traditional mortgage insurance.

We'll explain the costs of each option before you decide.

Yes. Homeowners refinance for many reasons, including lowering their interest rate, reducing their monthly payment, shortening the loan term, removing mortgage insurance, accessing home equity, or consolidating debt. We'll help determine whether refinancing makes financial sense based on your goals.

Absolutely. Many borrowers purchase second homes or investment properties. We offer Conventional, Jumbo, DSCR, and other financing options for vacation homes and real estate investors.

While requirements vary, most borrowers should be prepared to provide:

- Government-issued photo ID

- Recent pay stubs (if employee)

- W-2s or tax returns

- Bank statements

- Information about current debts and assets

- Income information

If additional documentation is needed, we'll let you know early in the process.

Unlike a bank that offers only its own loan products, an independent mortgage broker shops multiple lenders on your behalf. That means more loan options, competitive rates, personalized guidance, and financing solutions tailored to your unique financial situation—all through a single application.

The first step is simple. Apply online, give us a call, or schedule a consultation. We'll review your goals, explain your financing options, answer your questions, and guide you through every step of the mortgage process.