FAQ's

What is the first step in applying for a mortgage?

Start your journey with mortgage pre-approval. This crucial step determines your buying power by reviewing your credit, income, and assets.A pre-approval letter strengthens your offer and helps focus your home search on properties within your budget.

What’s the difference between pre-qualification and pre-approval?

Pre-Qualification: Quick estimate based on self-reported informationPre-Approval: Verified assessment including credit check and document review, providing stronger buying power

How much down payment is needed?

Down payment requirements vary by loan type.Conventional loans typically require at least 3-5%FHA loans can require as low as 3.5%VA loans often require no down payment for eligible veterans.

What documents are needed to apply for a mortgage?

Avoid making large purchases, opening new credit accounts, or changing jobs during the loan process, as these can affect your approval.Our team will guide you on best practices to ensure a smooth process.

Can I get a mortgage with a low credit score?

Yes, certain loans like FHA are designed for borrowers with lower credit scores.Our team will review your credit and help you find a loan option that fits your financial situation.

How do interest rates affect my mortgage?

Interest rates determine your monthly payments and the total cost of the loan. Lower rates reduce your payments, while higher rates increase them. We can help you lock in a competitive rate that aligns with your goals.

What is a Jumbo Loan, and do I qualify?

Jumbo loans are for amounts that exceed the conventional loan limits. They are ideal for purchasing high-value properties. To qualify, you’ll typically need a higher credit score and down payment.

What should I avoid doing while my loan is being processed?

How does a reverse mortgage work?

A reverse mortgage allows homeowners aged 62 and older to convert home equity into cash without monthly payments.It’s repaid when the home is sold or the owner moves out. It’s a popular option for retirement planning.

What fees are involved in getting a mortgage?

Mortgage fees vary but typically include origination fees, appraisal costs, and closing costs.We’ll provide a transparent breakdown of all fees so you know exactly what to expect.