Mortgage FAQ
Most loan programs require a minimum credit score of 620. FHA loans may accept scores as low as 580 with a 3.5% down payment. VA and USDA loans also have flexible credit requirements. Contact us to discuss your specific situation.
Down payment requirements vary by loan type. FHA loans require as little as 3.5%, conventional loans start at 3-5%, VA and USDA loans offer 0% down options for eligible borrowers.
Typical documents include: recent pay stubs, W-2s (last 2 years), tax returns (last 2 years), bank statements (last 2 months), photo ID, and Social Security number. Self-employed borrowers may need additional documentation.
A typical mortgage closes in 30-45 days from application. Timelines can vary depending on the loan type, property appraisal, and documentation. We work to close as quickly as possible.
Refinancing can be beneficial if current rates are lower than your existing rate, you want to shorten your loan term, consolidate debt, or tap into home equity. A general rule: if you can lower your rate by at least 0.5-1%, refinancing may save you money.
FHA loans are government-backed mortgages insured by the Federal Housing Administration. They offer lower credit score requirements, smaller down payments (3.5%), and more flexible qualification guidelines — making them ideal for first-time homebuyers.