Mortgage FAQ

Pre-qualification is a rough estimate based on what you tell a lender. Pre-approval means the lender has verified your income, credit, and assets — sellers take it far more seriously. I do full pre-approvals, and listing agents in this area know my name on one means the deal closes.

Less than most people think. VA and USDA loans can be zero down for eligible buyers. FHA starts at 3.5%. Conventional can go as low as 3% for qualified first-time buyers. We'll look at what fits your budget, not just the minimum.

A fixed rate never changes; an adjustable rate (ARM) starts lower but can move later. If you plan to stay put for many years, fixed is usually the safer bet. If you'll likely move or refinance in a few years, an ARM can save real money. I'll run both scenarios with your numbers.

It depends on the loan. FHA can work down to the 580s in many cases, VA is flexible, and conventional generally wants 620+. But your score is only part of the picture — let's look at the whole file before assuming anything.

Typically 30–45 days from accepted offer to closing, sometimes faster. The biggest delays come from slow paperwork on the borrower's side — I give you a checklist up front so nothing stalls.

Private mortgage insurance protects the lender when your down payment is under 20% on a conventional loan. VA loans never have it. FHA has its own version (MIP). Once you have enough equity, PMI can often be removed — I'll flag when you're eligible.

In a competitive offer situation, a local lender is an advantage — listing agents trust pre-approvals from someone they know will answer the phone. Online lenders can be cheaper on paper but slower and harder to reach when it counts.

Yes — it takes more documentation (usually two years of tax returns plus profit-and-loss), but it's very doable. Bank-statement loan programs also exist for borrowers whose tax returns don't reflect their real income.