Frequently Asked Questions

We offer a wide range of mortgage options, including conventional loans, FHA, VA, USDA, and jumbo loans. Under the category of conventional loans, we also provide DSCR loans, bank statement loans, and loans for non-residents with an ITIN number. Our team of experts will work with you to find the mortgage that best suits your financial needs.

A fixed-rate mortgage has an interest rate that remains the same throughout the life of the loan, providing consistent monthly payments. In contrast, an adjustable-rate mortgage (ARM) has an interest rate that can change after an initial fixed period, typically based on market conditions, which can result in varying monthly payments.

The amount you can borrow depends on several factors, including your income, credit score, current debts, and the value of the property you want to purchase. Generally, for government-backed loans, if you are a first-time buyer and qualify, you can finance 95% to 97% of the property’s value, and in some cases, up to 100% with VA or USDA loans, or with state or federal assistance. We recommend speaking with one of our advisors to get pre-approved and learn how much you might qualify to borrow.

While a higher credit score can help you secure better interest rates, you don’t need a perfect score to qualify for a mortgage. A score of 620 or higher is recommended for first-time buyers to obtain better terms, but financing is available for scores as low as 580. We offer loan options for people with a variety of credit situations.

The costs associated with a mortgage can include the down payment, closing costs, discount points, and other fees related to the loan application and processing. We will provide a comprehensive disclosure of all costs before closing.

The mortgage process can vary depending on your situation, but it generally takes between 20 to 30 days from application to closing. We are committed to making the process as fast and efficient as possible.

A mortgage pre-approval is a preliminary evaluation of your ability to obtain a loan, based on your financial information. To get pre-approved, you’ll need to provide details about your income, assets, and debts. This will give you a clear idea of how much you can afford to spend on a home.

Yes, we offer refinancing options that can help you obtain a lower interest rate, reduce your monthly payments, or change your mortgage type. Our team can help you determine if refinancing is the right option for you.

Generally, a higher credit score can help you secure a lower interest rate on your mortgage, which can reduce your monthly payments and the total cost of the loan over time.

If you’re unable to make a mortgage payment, it’s important to contact the servicing bank immediately, as they may have tools to help you with options like forbearance or loan modification.

If you have had a recent bankruptcy, there are certain types of loans that may still allow you to obtain a mortgage, provided you have re-established your credit and meet the specific requirements of those programs. Each program has its own specific financing terms, such as maximum loan amounts and interest rates.

It depends on what is considered “bad credit.” If your credit score is below 580, obtaining financing can be challenging. Other factors, such as a recent bankruptcy, repossession, or late payments on student loans or SBA loans, may also affect your ability to secure a mortgage. However, in our experience, many people who thought they couldn’t qualify were able to   buy a home after talking to us, so we recommend speaking with one of our specialists to     explore your options.

While it is not always mandatory to provide tax returns to buy a house, most lenders require them as part of the mortgage approval process, especially if you are self-employed, own a business, or work as a contractor with 1099 income.