Frequently Asked Questions

Credit score requirements vary by loan type, but generally:

• Conventional loans: 620+ credit score
• FHA loans: 580+ credit score (3.5% down) or 500+ (10% down)
• VA loans: No minimum credit score requirement
• USDA loans: 640+ credit score

We work with multiple lenders and can help find options that work for your specific situation.

Down payment requirements depend on the loan type:

• Conventional loans: As low as 3%
• FHA loans: 3.5% with 580+ credit score
• VA loans: 0% down payment for eligible veterans
• USDA loans: 0% down payment in eligible rural areas

We can help you explore down payment assistance programs available in Florida.

The typical mortgage process takes 30-45 days from application to closing, but this can vary based on:

• Loan type and complexity
• How quickly you provide required documents
• Property appraisal scheduling
• Underwriter workload

We keep you informed throughout the process and work to close on time.

Common documents needed for a mortgage application include:

• Recent pay stubs (last 30 days)
• W-2 forms (last 2 years)
• Bank statements (last 2 months)
• Tax returns (last 2 years)
• Photo ID and Social Security card
• Documentation of other income sources

We'll provide a complete list based on your specific situation.

Yes! Getting pre-approved offers several advantages:

• Know your budget before you start shopping
• Shows sellers you're a serious buyer
• Speeds up the closing process
• Identifies any credit issues early
• Locks in interest rates (with some loan types)

Pre-approval gives you confidence and a competitive edge in today's market.

Pre-qualification is an initial assessment based on basic information you provide, while pre-approval involves:

• Complete application with documentation
• Credit check and income verification
• More accurate loan amount determination
• Stronger position when making offers

Pre-approval carries more weight with sellers and real estate agents.

Yes, you can still qualify for a mortgage with student loans. Lenders consider:

• Your debt-to-income ratio
• Payment history on student loans
• Type of student loan repayment plan
• Overall credit profile

We can help structure your application to account for student loan debt.

Closing costs typically range from 2-5% of the loan amount and may include:

• Origination fees
• Appraisal and inspection fees
• Title insurance and attorney fees
• Recording fees and taxes
• Homeowner's insurance and property taxes

We provide a detailed estimate early in the process so there are no surprises.