Frequently Asked Questions
Clear answers to the questions we hear most often. No jargon, no runaround.
Clear answers to the questions we hear most often. No jargon, no runaround.
From first-time buyers to seasoned investors, these are the questions that matter most.
Prequalified is a rough estimate based on self-reported data — no verification, no commitment. Pre-approved means a fully underwritten commitment backed by verified income, assets, and credit. Pre-approval is what wins offers and gets you to the closing table.
No. While higher scores get better rates, FHA loans allow scores as low as 580 with 3.5% down. We also have manual underwriting options for complex files and programs that work around collections, medical debt, and past credit events.
Less than you think. FHA requires 3.5%, conventional can go as low as 3%, VA and USDA offer zero-down options, and there are grant programs that can cover your down payment entirely.
Absolutely. We offer bank statement programs that use 12 or 24 months of deposits instead of tax returns. We can also layer in 1099 income, combine multiple income sources, and work with P&L-only documentation.
Debt-to-Income ratio is how much of your gross monthly income goes toward debt payments. It's the most common reason qualified buyers get denied. Front-end target: under 31% (FHA) or 28% (conventional). Back-end target: under 43–50% depending on loan type.
Waiting has real costs. A 5% rise in home prices on a $400K home costs you $20,000 in purchase price — often more than you'd save from a small rate drop. Prices are projected to continue rising through 2026. You can always refinance your rate, but you can't go back and buy at yesterday's price.
Don't buy a car or furniture, don't apply for new credit, don't move large sums of unexplained cash, don't change jobs, don't co-sign anyone's loan, and don't change phone plans. Your financial life needs to freeze from contract to closing.
Your true monthly payment includes Principal, Interest, Taxes, Insurance, and Association (HOA) fees. Most people only budget for principal and interest and get surprised at closing.
Not necessarily. Medical collections are treated differently under modern scoring models — many lenders discount or ignore them. Past financial difficulties don't automatically disqualify you. Schedule a confidential consultation to review your options.
A Debt Service Coverage Ratio loan qualifies you based on the property's rental income, not your personal income. Ideal for investors with multiple properties or self-employment income.
Buy, Rehab, Rent, Refinance, Repeat. It's a strategy that lets you recycle capital to grow your portfolio faster. We provide both the acquisition financing and the refinance on the back end.
Under new NAR rules (2024), buyers must sign a representation agreement with an agent before touring homes. We recommend getting pre-approved first, then connecting with an agent. We have licensed agents on our team if you need a referral.
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