Question 1

What's the difference between pre-qualification and pre-approval?

Accepted Answer

Pre-qualification is a quick estimate based on basic information you provide, while pre-approval involves a thorough review of your financial documents and credit history. Pre-approval carries more weight with sellers and gives you a stronger position when making offers. We offer same-day pre-approvals so you can make offers confidently.

Question 2

Do I need a home picked out before getting pre-approved?

Accepted Answer

No. Getting pre-approved first clarifies your budget and strengthens your offers once you start shopping. It's actually recommended to get pre-approved before house hunting so you know exactly what you can afford.

Question 3

How fast can I get pre-approved?

Accepted Answer

We offer same-day pre-approval. With complete documentation, you can receive your pre-approval letter within hours, not days. This fast turnaround helps you make competitive offers quickly.

Question 4

What documents do I need for pre-approval?

Accepted Answer

For most borrowers: recent pay stubs (last 30 days), W-2s, and 1-2 months of bank statements. Tax returns are typically only needed if you're self-employed. However, there are programs for self-employed borrowers that don't require tax returns, such as bank statement loans. We'll send a tailored checklist for your specific situation.

Question 5

Will applying for pre-approval hurt my credit score?

Accepted Answer

A single mortgage inquiry has a small impact. Multiple mortgage inquiries within a short window (typically within 14 days) are treated as one inquiry. The precision of a pre-approval is worth the minimal impact, and it's essential for making competitive offers.

Question 6

Do you charge upfront fees for pre-approval?

Accepted Answer

No - consultation and pre-approval are completely free. My service is always free. Fees are only paid when you close on a property (to third parties like appraisers, title companies, etc.), not to me. You only proceed with fees when you're ready to move forward with a specific property and loan.

Question 7

What happens after I'm pre-approved?

Accepted Answer

We coordinate with your real estate agent, update your pre-approval letter to match specific offers, and guide you through appraisal, underwriting, and closing-providing end-to-end support from application to funding.

Question 8

What's the minimum credit score for a mortgage?

Accepted Answer

Minimum credit scores vary by loan type: Conventional loans typically require 620+, FHA loans accept 580+ (with 3.5% down), VA loans require 540+, and USDA loans require 540+. Higher scores get better rates and terms.

Question 9

How much down payment do I need?

Accepted Answer

Down payment requirements vary: Conventional loans can go as low as 3-5%, FHA requires 3.5% minimum, VA and USDA loans require 0% down, and jumbo loans typically require 10-20%. Down payment assistance programs may be available to help reduce your upfront costs.

Question 10

What's the difference between Conventional and FHA loans?

Accepted Answer

Conventional loans typically require 620+ credit and 3-5% down, with PMI that can be removed at 20% equity. FHA loans accept 580+ credit with 3.5% down and have more flexible debt-to-income ratios, but require MIP (mortgage insurance). For FHA loans, if your down payment was 10% or more, you pay MIP for 11 years. If less than 10%, MIP typically stays for the life of the loan unless you refinance. Conventional loans often have better long-term rates for borrowers with strong credit.

Question 11

Who qualifies for a VA loan?

Accepted Answer

VA loans are available to eligible veterans, active-duty service members, National Guard and Reserve members, and surviving spouses. You need a Certificate of Eligibility (COE) and must meet service requirements. VA loans offer 0% down, no PMI, and competitive rates.

Question 12

What areas qualify for USDA loans?

Accepted Answer

USDA loans are available in eligible rural and suburban areas. The property must be in a USDA-designated area (many suburban areas qualify, not just remote rural locations). There are also income limits based on your area's median income. We can check if your desired property qualifies.

Question 13

What is a jumbo loan and when do I need one?

Accepted Answer

Jumbo loans are for properties that exceed conforming loan limits (in 2025, $832,750 in most areas, up to $1,249,125 in high-cost areas like the Bay Area). Jumbo loans typically require 10-20% down, 700+ credit scores, and have stricter qualification requirements, but offer competitive rates for high-value properties.

Question 14

Are there loans without mortgage insurance (PMI)?

Accepted Answer

Yes - VA loans have no PMI, and some Conventional structures can avoid monthly PMI or remove it once you reach 20% equity. With a 20% down payment on Conventional loans, you can avoid PMI entirely. We can help you explore options to minimize or eliminate mortgage insurance.

Question 15

Can I use a gift for my down payment?

Accepted Answer

Yes, gift funds are allowed for most loan programs. The gift must come from an acceptable source (family member, domestic partner, or employer), and you'll need a gift letter and documentation showing the transfer. Gift funds can cover all or part of your down payment and closing costs.

Question 16

What's the maximum loan amount I can qualify for?

Accepted Answer

Your maximum loan amount depends on your income, debts, credit score, down payment, and the loan program. Generally, lenders use a debt-to-income ratio (typically 43-50% maximum) to determine affordability. We'll calculate your maximum based on your specific financial situation.

Question 17

Can I combine down payment assistance with other loan programs?

Accepted Answer

Yes, down payment assistance programs (like CalHFA) can often be combined with FHA or Conventional loans. These programs provide grants or low-interest loans to help cover down payment and closing costs, making homeownership more accessible for first-time and low-to-moderate income buyers.

Question 18

Can I buy a home if I'm self-employed?

Accepted Answer

Yes! Self-employed borrowers can qualify for mortgages, but they'll need to provide additional documentation including 2+ years of tax returns, profit & loss statements, and bank statements. Bank statement loans and asset depletion programs are also available for self-employed borrowers who may not show traditional income.

Question 19

How do bank statement loans work?

Accepted Answer

Bank statement loans allow self-employed borrowers to qualify using 12-24 months of bank statements instead of tax returns. Lenders calculate income by averaging deposits over the statement period. These Non-QM loans typically require 10-20% down and 660+ credit scores, offering flexibility for business owners.

Question 20

What is asset depletion and who qualifies?

Accepted Answer

Asset depletion loans use liquid assets (savings, investments, retirement accounts) to calculate qualifying income when taxable income is low. This is ideal for retirees or high-asset borrowers. Lenders divide assets by the loan term to determine monthly income. Typically requires 680+ credit and 10-20% down.

Question 21

Can I qualify if I have irregular income?

Accepted Answer

Yes, we have options for borrowers with irregular income. Bank statement loans, asset depletion, and programs that average income over 12-24 months can help. We'll review your specific situation and find the best way to present your income to qualify.

Question 22

What if I'm a 1099 contractor or gig worker?

Accepted Answer

1099 contractors and gig workers can qualify using bank statement loans or by providing 2+ years of tax returns showing consistent income. Some programs allow averaging income over 12-24 months. We'll help structure your application to best represent your earning capacity.

Question 23

Can I use business income to qualify?

Accepted Answer

Yes, business income can be used to qualify. For sole proprietorships, partnerships, and S-corps, we typically use your share of business income from tax returns. For corporations, we may use salary plus distributions. Bank statement programs can also use business account deposits.

Question 24

What if I just started my business?

Accepted Answer

Most programs require 2+ years of self-employment history. However, if you have 12+ months of business history and strong financials, some lenders may consider your application. Bank statement loans can be particularly helpful for newer businesses with strong cash flow.

Question 25

When should I refinance my mortgage?

Accepted Answer

Consider refinancing when: interest rates have dropped significantly (typically 0.5-1% lower), you want to lower monthly payments, you want to shorten your loan term, you need cash from equity, or you want to remove PMI. We can calculate your break-even point to determine if refinancing makes financial sense.

Question 26

What's the difference between rate & term and cash-out refinance?

Accepted Answer

Rate & term refinance lowers your interest rate or changes your loan term without taking cash out. Cash-out refinance allows you to borrow more than you owe and receive the difference in cash, typically at lower rates than credit cards or personal loans. Both can lower your payment, but cash-out increases your loan balance.

Question 27

Can I refinance to remove PMI?

Accepted Answer

Yes, if you've reached 20% equity in your home (based on current value), you can refinance from an FHA loan to a Conventional loan to remove MIP, or request PMI removal on a Conventional loan. An appraisal may be required to confirm your current equity.

Question 28

What is an FHA Streamline refinance?

Accepted Answer

FHA Streamline is a simplified refinance for existing FHA borrowers with minimal documentation. It typically requires no appraisal, reduced paperwork, and lower closing costs. You must have a good payment history and the refinance must result in a lower payment or shorter term.

Question 29

What is a VA IRRRL?

Accepted Answer

VA IRRRL (Interest Rate Reduction Refinance Loan) is a streamlined refinance for eligible veterans and service members. It requires no down payment, no PMI, minimal documentation, and is designed to lower your interest rate. You must have an existing VA loan and good payment history.

Question 30

How much equity do I need to refinance?

Accepted Answer

For rate & term refinance, you typically need at least 5% equity (95% loan-to-value). For cash-out refinance, you usually need 20%+ equity, though some programs allow up to 80-90% LTV. We'll calculate your current equity and available options.

Question 31

Can I refinance if I have an ARM (Adjustable Rate Mortgage)?

Accepted Answer

Yes, refinancing from an ARM to a fixed-rate mortgage is common, especially before the first rate adjustment. This provides payment stability and protects against future rate increases. We can help you determine the best time to refinance based on current rates and your ARM terms.

Question 32

Will refinancing reset my loan term?

Accepted Answer

You choose your new loan term when refinancing. You can refinance into a new 30-year term (which resets the clock), a shorter term like 15 or 20 years (to pay off faster), or match your remaining term. We'll help you decide based on your goals.

Question 33

What is PMI and when is it required?

Accepted Answer

PMI (Private Mortgage Insurance) is required on Conventional loans when your down payment is less than 20%. It protects the lender if you default. PMI can typically be removed once you reach 20% equity (based on original purchase price) or 80% loan-to-value (based on current value with an appraisal).

Question 34

What's the difference between PMI and MIP?

Accepted Answer

PMI (Private Mortgage Insurance) is for Conventional loans and can be removed at 20% equity. MIP (Mortgage Insurance Premium) is for FHA loans and includes both an upfront fee and monthly payments. For FHA loans, if your down payment was 10% or more, you pay MIP for 11 years. If less than 10%, MIP typically stays for the life of the loan unless you refinance to Conventional or meet specific FHA removal criteria.

Question 35

How can I remove PMI from my Conventional loan?

Accepted Answer

PMI can be removed when you reach 20% equity based on original purchase price (automatic removal), or 80% LTV based on current value with an appraisal (request removal). You must have no late payments in the past 12 months and meet seasoning requirements. We can help you request removal.

Question 36

Can I avoid PMI with less than 20% down?

Accepted Answer

On Conventional loans, PMI is typically required with less than 20% down. However, some lenders offer "lender-paid PMI" where the cost is built into the interest rate. VA loans have no PMI regardless of down payment. We can compare options to minimize your total cost.

Question 37

How much does PMI cost?

Accepted Answer

PMI costs typically range from 0.3% to 1.5% of the loan amount annually, divided into monthly payments. The exact cost depends on your credit score, down payment amount, and loan-to-value ratio. Higher credit scores and larger down payments result in lower PMI costs.

Question 38

What closing costs should I expect?

Accepted Answer

Closing costs typically range from 2-4% of the loan amount and include loan fees, appraisal, title insurance, escrow fees, and prepaid items like property taxes and insurance. We'll provide a detailed Loan Estimate early in the process so there are no surprises.

Question 39

How long does it take to close on a home?

Accepted Answer

Typical closing times are 30 days, but we can close in as fast as 14 days for qualified borrowers with complete documentation. Speed depends on loan type, documentation completeness, market conditions, and third-party services (appraisal, title). Pre-approval helps accelerate the process.

Question 40

What happens at closing?

Accepted Answer

At closing, you'll sign final loan documents, provide proof of homeowners insurance, wire funds for down payment and closing costs, and receive the keys to your new home. The loan funds, documents are recorded, and you become the official homeowner. We'll guide you through every step.

Question 41

Can closing costs be rolled into the loan?

Accepted Answer

In some cases, yes. You can often roll closing costs into the loan by accepting a slightly higher interest rate (lender credits), or by increasing your loan amount if you have enough equity. However, this increases your total loan amount and monthly payment. We'll show you all options.

Question 42

What is a rate lock and how long does it last?

Accepted Answer

A rate lock guarantees your interest rate for a specified period (typically 30, 45, or 60 days). This protects you from rate increases during the loan process. Rate locks are usually free for standard periods, with fees for longer locks. We'll help you determine the best lock period for your timeline.

Question 43

What if the appraisal comes in low?

Accepted Answer

If the appraisal is lower than the purchase price, you have options: renegotiate the purchase price with the seller, bring additional cash to cover the difference, or walk away (if your contract allows). We'll help you navigate this situation and explore all options.

Question 44

Can I get a refund if the loan doesn't close?

Accepted Answer

Some fees (like credit report and appraisal) are typically non-refundable once services have been performed. However, application fees and other upfront costs vary by lender. We'll explain all fees upfront and which are refundable before you commit.

Question 45

Can I buy a second home or investment property?

Accepted Answer

Yes - options include Conventional loans (typically 10-20% down for investment properties), DSCR loans (qualify based on property cash flow), and asset-based programs. Investment property loans often have slightly higher rates and stricter requirements than primary residence loans.

Question 46

How do DSCR loans work for investment properties?

Accepted Answer

DSCR (Debt Service Coverage Ratio) loans qualify based on the property's rental income covering the mortgage payment, rather than your personal income. Typically requires DSCR of 1.0 or higher (rental income ≥ mortgage payment), 20-25% down, and minimal personal income documentation. Ideal for real estate investors.

Question 47

Can I use rental income to qualify?

Accepted Answer

Yes, rental income from investment properties can be used to qualify, typically at 75% of the gross rental income (to account for vacancies and expenses). For ADUs on your primary residence, rental income may also be used depending on the loan program. We'll help you document and calculate rental income.

Question 48

What's the difference between a second home and investment property?

Accepted Answer

A second home is for your personal use (vacation home), typically requires 10% down, and has slightly better rates. An investment property is for rental income, requires 15-25% down, and has higher rates. The distinction affects down payment, rates, and qualification requirements.

Question 49

Can I buy multiple investment properties?

Accepted Answer

Yes, you can finance multiple investment properties. Conventional loans typically allow up to 10 financed properties total. After 4+ properties, requirements become stricter (higher down payments, reserves, experience requirements). DSCR loans can be easier for multiple properties since they're based on property cash flow.

Question 50

Can I finance home improvements with my mortgage?

Accepted Answer

Yes, renovation loans (FHA 203k or Conventional HomeStyle) allow you to buy a home and finance improvements in one loan. You can roll the purchase price plus renovation costs into a single mortgage, making it easier to buy fixer-uppers or customize your home.

Question 51

How does ADU financing work?

Accepted Answer

ADU (Accessory Dwelling Unit) financing can be done through construction loans, cash-out refinance, HELOC (Home Equity Line of Credit), HELOAN (Home Equity Loan), or renovation loans. You can finance building a new ADU or converting existing space. Some programs offer one-time-close construction-to-permanent loans. ADU rental income may also help you qualify.

Question 52

What is a 203k loan?

Accepted Answer

FHA 203k is a renovation loan that combines purchase (or refinance) with renovation costs into one loan. It allows 3.5% down and can finance repairs, improvements, or even major renovations. The property must be your primary residence. There's also a "Streamline 203k" for smaller projects under $35,000.

Question 53

Can I build a new home with a construction loan?

Accepted Answer

Yes, construction loans are available for building new homes. Options include construction-to-permanent loans (one-time close) or separate construction and permanent loans. Typically requires 10-20% down, detailed construction plans, and a qualified builder. We can help you find the right construction loan program.

Question 54

Can I use a HELOC for home improvements?

Accepted Answer

Yes, HELOC (Home Equity Line of Credit) or HELOAN (Home Equity Loan) can be used for home improvements, often at lower rates than credit cards. HELOC provides a revolving line of credit, while HELOAN provides a fixed lump sum. Both use your home equity as collateral.

Question 55

Can ADU income help me qualify for a mortgage?

Accepted Answer

Yes! Rental income from ADUs (Accessory Dwelling Units) can be used to help qualify for a mortgage, typically at 75% of the rental income. This is especially valuable in the Bay Area where ADUs are common. We'll help you document ADU income and find programs that allow it.

Question 56

How do you communicate during the loan process?

Accepted Answer

We provide transparent milestones with text/email updates at each step. You'll receive regular updates on application status, document requests, underwriting progress, and closing timeline. You have one dedicated point of contact who guides you from start to finish, ensuring a stress-free experience.

Question 57

What makes your process different?

Accepted Answer

We focus on faster closings (as little as 14 days), underwriting-ready files with fewer last-minute requests, transparent milestone updates, local Bay Area expertise with statewide coverage, and one dedicated point of contact throughout the entire process. We prioritize clarity and speed.

Question 58

Do you work with first-time homebuyers?

Accepted Answer

Absolutely. We help first-time buyers with FHA loans, Conventional 3% down programs, down payment assistance (CalHFA and local programs), and state programs. We'll pick the path that balances payment, cash-to-close, and long-term goals, making homeownership accessible.

Question 59

What areas do you serve?

Accepted Answer

We specialize in the entire Bay Area with local expertise, but we serve all of California. Our knowledge of local markets, ADU regulations, and Bay Area-specific programs sets us apart.

Question 60

Can I get pre-approved on weekends or evenings?

Accepted Answer

Yes, we offer flexible scheduling including evenings and weekends to accommodate your schedule. Our online application is available 24/7, and we're available for consultations and questions outside traditional business hours.

Question 61

What if I have questions during the process?

Accepted Answer

You'll have direct access to your loan officer throughout the entire process. We encourage questions and provide clear, timely responses. Our goal is to make the mortgage process transparent and stress-free, with open communication at every step.

Question 62

Can I get a mortgage with student loan debt?

Accepted Answer

Yes! Student loan debt doesn't automatically disqualify you. Lenders will consider your debt-to-income ratio, and there are programs specifically designed for borrowers with student loans. Some programs use your actual payment amount rather than the full balance, making qualification easier.

Question 63

What is debt-to-income ratio and why does it matter?

Accepted Answer

DTI (Debt-to-Income) ratio is your monthly debt payments divided by your monthly gross income. Most lenders prefer DTI below 43-50%. It's a key factor in loan approval and determines how much you can borrow. Lower DTI means better qualification and potentially better rates.

Question 64

Fixed vs. adjustable-rate (ARM): which is better?

Accepted Answer

Fixed-rate mortgages keep the same rate for the life of the loan, providing payment stability. ARMs start with lower rates but can adjust later-useful if you plan to move or refinance within a set timeframe (typically 5-7 years). We'll help you choose based on your plans and risk tolerance.

Home Loans Made Simple

What sets our process apart

Find Your Best Loan Option

What type of financing are you looking for?

How We Help You Succeed

Same-Day Pre-Approval

Custom Loan Options

Trusted Support

Explore The Loan Programs

Conventional Loans

Down Payment Assistance

Construction / ADU Financing

FHA Loans

Jumbo Loans

Bank Statement / Self-Employed

From Application to Clear-to-Close: Your Timeline

Pre‑Approval & Strategy

Docs & Disclosures

Underwriting & Appraisal

Clear to Close

Signing & Funding

Ready to Start Your Loan Journey?

Quick Payment Estimate

Loan Details

Your Estimate

Thinking About Refinancing?

What Our Clients Say

Frequently Asked Questions

Getting Started & Pre-Approval

What's the difference between pre-qualification and pre-approval?

Do I need a home picked out before getting pre-approved?

Loan Programs - Conventional & Government

What's the minimum credit score for a mortgage?

How much down payment do I need?

Self-Employed & Special Situations

Can I buy a home if I'm self-employed?

How do bank statement loans work?

Refinancing

When should I refinance my mortgage?

What's the difference between rate & term and cash-out refinance?

Mortgage Insurance (PMI/MIP)

What is PMI and when is it required?

What's the difference between PMI and MIP?

Closing & Costs

What closing costs should I expect?

How long does it take to close on a home?

Investment & Second Homes

Can I buy a second home or investment property?

How do DSCR loans work for investment properties?

Construction & Renovation

Can I finance home improvements with my mortgage?

How does ADU financing work?

Process & Support

How do you communicate during the loan process?

What makes your process different?

Special Situations & Miscellaneous

Can I get a mortgage with student loan debt?

What is debt-to-income ratio and why does it matter?

Still have questions?

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