Credit score requirements vary by loan program:

• Conventional loans: Typically require 620-640+, with the best rates reserved for scores 740+
• FHA loans: Can work with scores as low as 500 with a 10% down payment, or 580+ with 3.5% down
• VA loans: No official minimum, but most lenders look for 620+
• USDA loans: Generally require 640+

We offer specialized programs for borrowers with lower credit scores. Contact us to discuss your specific situation.

Down payment requirements vary by loan type:

• Conventional loans: As low as 3-5% for qualified borrowers
• FHA loans: 3.5% minimum
• VA loans: 0% down payment for eligible veterans
• USDA loans: 0% down payment in eligible rural areas

Down payment assistance programs may also be available in your area. We can help you explore all your options.

Pre-qualification is an informal estimate based on information you provide verbally or through a simple form. It gives you a rough idea of what you might be able to borrow.

Pre-approval is a more formal process where you submit a full application and documentation. The lender verifies your income, assets, and credit, then provides a conditional commitment for a specific loan amount. Pre-approval carries significantly more weight with sellers and real estate agents.

A fixed-rate mortgage has an interest rate that remains the same for the entire life of the loan, providing predictable monthly payments. This is a good choice if you plan to stay in your home long-term or prefer stability.

An adjustable-rate mortgage (ARM) has an interest rate that may change periodically based on market indices. ARMs typically start with a lower rate than fixed-rate mortgages but can increase over time. They might be suitable if you plan to sell or refinance before the adjustment period begins.

VA loans are available to:

• Veterans who served on active duty and were discharged under conditions other than dishonorable
• Active-duty service members
• Selected Reserve or National Guard members
• Certain surviving spouses of veterans who died in service or from a service-related disability

Eligibility requirements include minimum service time requirements, which vary based on when and how you served. We can help you determine your eligibility and guide you through the VA loan process.

USDA loans are designed to promote homeownership in rural and some suburban areas. Eligibility is based on:

• Location: The property must be in an area designated as rural by the USDA. Many suburban areas qualify, so don't assume your location is ineligible.
• Income: Your household income cannot exceed 115% of the median income for your area.
• Occupancy: The property must be your primary residence.

You can check property eligibility on the USDA's website or contact us for assistance.

From application to closing typically takes 30-45 days, depending on several factors:

• Loan type: Some loans (like FHA or VA) may require additional processing time
• Documentation: How quickly you provide required documents
• Appraisal and inspection: Scheduling and completion times
• Market conditions: High volume periods may extend processing times

Some refinances can close in 21 days or less. We'll provide you with a timeline specific to your situation and keep you updated throughout the process.

While specific requirements may vary, generally you'll need:

• Identification: Driver's license or state ID
• Income verification: Recent pay stubs (30 days), W-2s (2 years), and federal tax returns (2 years)
• Asset verification: Bank statements (2 months), investment account statements
• Debt information: Details on current loans, credit cards, and other obligations
• Rental history: Landlord contact information for the past 2 years

For a complete checklist, visit our Document Checklist page.

Yes, we offer rate locks up to 60 days to protect you from rate increases during processing. A rate lock guarantees your interest rate for a specified period, regardless of market fluctuations.

If rates drop significantly after you lock, we may be able to offer a "float down" option, though this typically involves additional costs. We'll discuss all rate lock options with you to determine the best strategy for your situation.

We work with borrowers in all situations and have several options for those with credit challenges:

• FHA loans: More flexible credit requirements
• Specialized programs: For borrowers with lower credit scores
• Bank statement programs: For self-employed borrowers with non-traditional income documentation
• Non-traditional credit evaluation: Using alternative credit history like rent payments

We'll evaluate your complete financial picture, not just your credit score, and work to find the best solution for your situation.

Several factors determine how much home you can afford:

• Income: Your gross monthly income
• Debt-to-income ratio (DTI):strong> Most lenders prefer a DTI of 43% or less
• Down payment: A larger down payment increases your purchasing power
• Credit score: Affects your interest rate and monthly payment
• Property taxes and insurance: Vary by location