Question 1

What is the first step in getting a mortgage?

Accepted Answer

The first step is getting pre-qualified or pre-approved. This involves submitting basic financial information to a lender who will assess your creditworthiness and give you an estimate of how much you can borrow. Pre-approval is more thorough and gives you a stronger position when making offers.

Question 2

How do I know which mortgage type is right for me?

Accepted Answer

The right mortgage depends on your financial situation, down payment, credit score, and goals. Conventional loans work well for those with strong credit, FHA loans help first-time buyers with lower down payments, VA loans offer benefits for veterans, and USDA loans help rural homebuyers. Consult with a mortgage professional to find your best fit.

Question 3

What credit score do I need for a mortgage?

Accepted Answer

Credit score requirements vary by loan type: FHA loans accept scores as low as 500-580, Conventional loans typically require 620+, VA loans usually require 620+, and Jumbo loans often require 700+. Higher scores generally qualify for better interest rates.

Question 4

How much down payment do I need to buy a home?

Accepted Answer

Down payment requirements vary: Conventional loans require 3-20%, FHA loans need as little as 3.5%, VA loans often require 0% for eligible veterans, and USDA loans may offer 0% down in eligible areas. Down payment assistance programs may also be available.

Mortgage Resources

Educational Guides

First-Time Buyer Guide

Refinancing Explained

Credit Score Insights

Mortgage Types

Down Payment Options

Mortgages 101

Helpful Resources

Closing Checklist

Document Preparation Guide

Client Testimonials

Mortgage Comparison Worksheet

Pre-Qualification Checklist

Mortgage Calculators

Payment Calculator

Affordability Calculator

DTI Calculator

Closing Costs Calculator

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