FAQs

The only way for us to tell you the interest rate you might pay on a mortgage would be to provide you with a personalized estimate.

Mortgage pre-approval is a process through which you can receive that estimate.

Individual factors determine what you qualify for, such as your credit score, income, and debt-to-income (DTI) ratio.

Mortgage rates change continuously as well, so when your loan is approved is another determining factor.

Your down payment is like your interest rate in that individual factors determine what you qualify for.

Along with those factors (i.e. your credit score and DTI ratio), we also must consider the type of mortgage for which you are applying.

Buying a home does not require a 20% down payment as many first time homebuyers believe.

In fact, no down payment is necessary if you qualify for a VA mortgage or a USDA home loan.

Low down payments also are available to borrowers applying for conventional and FHA loans, depending on their credit scores.

What if you do not qualify for a low enough down payment to buy a home right away?

Some borrowers choose to wait, but you can also check whether you are eligible for any down payment assistance programs.

Sometimes that makes it possible to purchase a home immediately. We can explain more to you about your options during your consult.

The credit score requirements vary from loan product to loan product. To find out the current requirements for the type of loan that interests you, please ask us directly.

We can also check your score and simply tell you what loan products you may qualify for based on your score during the pre-approval stage.

It might be possible to increase your score before you apply for a home loan. We can give you ideas for how to do this quickly once we know more about your scenario.

Many of the same factors that impact the answers to the other questions in this list also affect how much you are able to borrow when you are shopping for a home.

We will look at your qualifications and also the type of mortgage for which you are applying when telling you the upper limit.

There also are sometimes specific caps for different lending products. For example, a conforming loan must be within the Fannie Mae and Freddie Mac conforming loan limits.

If the loan limits for a particular product are too low for you, we can recommend alternatives (for example, non-conforming loans).

Our headquarters are in North Palm Beach and West Palm Beach. But we serve the entire state of Florida.

Did a bank turn you down when you tried to buy a home without a W-2 form? This still happens a lot with big box lenders, despite how many homebuyers simply do not have this form.

We do not require this form if you do not have it. Instead, we invite you to apply through our simple and fast bank statement loan process. We use your bank statements to document your income instead of a W-2.