FAQs
Frequently Asked Questions
Straightforward answers to the questions I hear most. Don’t see yours? Reach out and I’ll help.
What’s the difference between pre-qualification and pre-approval?
A pre-qualification is a quick estimate of what you may be able to borrow, based on information you share with me. A pre-approval goes a step further: I review your credit, income, assets, and documentation so you can shop with a clearer picture.
Neither one is a commitment to lend. Final approval depends on the property and a full underwriting review.
What documents should I have ready to apply?
A photo I.D., Social Security card, your previous month’s paycheck stub, the past two months of bank statements, and W-2 / 1099 forms and tax returns for the past two years. You don’t need everything at once. See the Apply For A Loan page for details.
How much do I need for a down payment?
It depends on the loan program, the property, and your situation. Some programs are designed to be more flexible, and assistance programs may be available in some areas. Visit the Loan Types page, or reach out and I’ll walk through your options.
What credit score do I need?
There isn’t one answer for every borrower. Each loan program has its own guidelines, and your score is one of several factors, along with income, debts, assets, and the property. If your credit needs work, we can talk about steps that may help before you apply.
How long does the mortgage process take?
Timelines vary by loan type, property, and how quickly documents come in. Appraisal, underwriting, and title work all take time. Providing documents up front is the best way to keep things moving.
What closing costs should I expect?
Closing costs commonly include lender fees, an appraisal, title and settlement services, and prepaid items such as taxes and insurance. After you apply, you’ll receive a Loan Estimate that itemizes your expected costs, and we’ll go through it together.
Is submitting an application a binding commitment?
No. An application isn’t a binding document. It allows me to review your situation and offer options that fit you. Anything you’re unsure about can be marked N/A and completed with me later.
When does it make sense to refinance?
Common reasons include adjusting your monthly payment, changing your loan term, or using your home’s equity. Whether it makes sense depends on your current loan, how long you plan to stay, and the costs involved. I’m happy to run through the numbers with you.
Can I qualify if I’m self-employed?
Self-employed borrowers can qualify. Lenders typically review tax returns and business income documentation, and requirements vary by program. Real estate investors may also be interested in DSCR loans, which focus on a property’s rental income. See Loan Types.