Mortgage FAQs

Minimum credit scores vary by loan type. Conventional loans typically require 620+, FHA loans accept 580 (3.5% down) or 500 (10% down), VA loans are flexible around 620, and USDA loans prefer 640+. We can review your situation and find the best fit.

Down payments range from 0% (VA, USDA) to 3.5% (FHA) or 3-5% (Conventional). For jumbo loans, expect 10-20% down. The exact amount depends on the loan type and your financial profile.

Pre‑approval can take 24-48 hours. From application to closing, typical timelines are 30-45 days, but we've closed loans in as few as 14 days with complete documentation.

Conventional loans are not government‑backed and typically require 3-5% down. FHA loans are insured by the Federal Housing Administration and allow lower credit scores (580) with 3.5% down. VA loans are for veterans and active military with zero down payment and no PMI. Each has different requirements for credit, down payment, and property.

A Debt Service Coverage Ratio (DSCR) loan is for real estate investors. You qualify based on the property's rental income instead of personal tax returns. The DSCR is the ratio of rental income to the mortgage payment – we accept as low as 0.75. No personal income documentation required.

Yes, we offer jumbo loans for loan amounts exceeding the conforming limit ($766,550 in most counties). Minimum credit score is typically 700 with higher reserve requirements. Contact us for specific guidelines.

Simply fill out our online application, provide basic income, asset, and credit information, and a loan officer will review your file. Pre‑approval is typically issued within 24 hours and shows sellers you're a serious buyer.

Typically: government ID, pay stubs (last 30 days), W-2s or tax returns (last 2 years), bank statements (last 2-3 months), and any other asset statements. For self‑employed borrowers, we may need 12-24 months of bank statements or a P&L statement.

No. We use a soft credit inquiry for initial rate quotes, which does not affect your credit score. Only when you proceed with a full application will a hard inquiry be made.

Refinancing is beneficial when you can lower your interest rate by at least 0.5-1%, shorten your loan term, switch from an ARM to a fixed rate, or tap into home equity (cash-out refi). Use our calculators to estimate savings.

A cash-out refinance replaces your current mortgage with a new, larger loan. You receive the difference in cash, which can be used for home improvements, debt consolidation, or other expenses. You must have sufficient equity (usually at least 20%).

Rates depend on economic factors (Federal Reserve policy, inflation, bond yields) and your personal financial profile – credit score, down payment, loan amount, term, and property type. Contact us for a personalized rate quote.

Closing costs typically range from 2-5% of the loan amount and include lender fees, title insurance, appraisal, recording fees, and prepaid items (taxes, insurance). We'll provide a Loan Estimate within 3 days of application with a detailed breakdown.