Navigating the home buying process does not have to be hard. Reach out. We're here to help.

Frequently Asked Questions

Do You Offer FHA Loans?

Yes, both standard and rehab loans.

How Quickly Will I Know If I Qualify For A Loan?

Our turn times do vary, however, in this competitive market, we do understand time is of the essence and we can typically move the same day if we receive all the information needed for the pre-approval.

Should I Get An FHA Or Conventional Loan?

That is a fantastic question. A lot of people think they need to receive an FHA loan if they are a first-time homebuyer or that it is the only loan available with a low-down payment. That is simply not true, in fact Conventional loans offer down payments as low as 3% for qualifying borrowers. One thing that I love about conventional loans over FHA is that your mortgage insurance will drop off at 78% of the lower of the initial appraisal and/or sales price whereas an FHA loan unless you put 10% or more down, your mortgage insurance is on your loan for the life of the loan. Also, with FHA there is an upfront mortgage insurance, currently at 1.75% which does most of the time get financed into your loan, however, it can impact your payment and qualifying sales price. I always recommend looking at both options side by side which we will do when we provide your loan strategies to see which options works best for you.

What If I Just Got A New Job?

This is doable, however, there are certain factors we would need to look at. This would be a great opportunity for us to connect and chat about your situation. Everyone’s situation is different, and I would not want to do a blanket yes or no without us chatting first.

What If I'm Self-employed?

I love our self-employed clients! We have several options available to help you qualify, not to mention we are experts in determining max qualifying income with personal and/or business tax returns, bank statements, and in some cases using only the rents from an investment property, no income/employment required. Also, because of the vast loan programs we offer, we do not always need a 2-year history of self-employment.

How Much Will I Qualify For?

The amount of money you will qualify for is based on various factors, including, but not limited to, your credit history, credit score, and income.

How Do I "Lock In" An Interest Rate?

After applying for your loan, talk to one of our team members, and we can help secure your mortgage rate. We also offer a LOCK AND SHOP option.

Will My Credit Score Be Impacted By Applying For A Loan, Even If I Don't Take The Loan?

Credit inquiries, like applying for mortgage pre-approval, may show up on your credit report but should not significantly impact your credit.

Do I Need A Good Credit Score To Buy A Home?

Credit scores impact the amount of money you qualify to receive as a loan. They also affect the interest rate at which your loan will be offered. However, people with no score or varying credit scores may be eligible for mortgages.

Do I Need Mortgage Insurance?

It depends. Some loan programs, like the VA loan, do not require personal mortgage insurance (PMI). However, other types of loans do require it.

We're here to help you live your greatest story through home ownership.

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Have questions? Leave Julie a message and she'll help you find the right answers.

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