Frequently Asked Questions

How long does it take to get the loan?

We can close loans in as little as 7 business days, however our average time is just 14 days. 

What's the minimum down payment needed for a loan?

This also depends on the loan program but the short answer is 3% in most cases. If you qualify for VA lending this program offers ZERO down loans and NO mortgage insurance.

What interest rates do you offer?

Unfortunately rates are not priced like a gallon of gas, this is because there are "risk factors" involved. Therefore rates vary based on several factors, such as: the borrowers qualififcations, the "loan to value" of the property, the loan program being used, and even current events. 
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What documentation is needed ?

Income documentation will be required to support the information given on your application. This is generally 2 years of W2's, 30-days of paystubs and 2 months of bank statements. If your application shows income from other sources you'll need to show proof of receiveing that as well - for example: child support, social security income, or retirement income. 

What credit score is needed to qualify for a home loan?

This does depend on the loan program used. As an example Conventional loan progarams start at a 620 FICO, FHA loan programs start out at a 500 FICO, and VA loan programs start with NO FICO needed.

Can I get a loan if I've gone through a bankruptcy ?

Yes, a bankruptcy does not prevent you from getting a home loan, HOWEVER there are rules to allowing it.
FHA and VA require that a BK7 is discharged 2 years, Conventional requires it to be 4 years. A BK13 is 1-2 years.

Have more questions?   Let's talk !

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