Frequently Asked Questions

"Yes. We typically average 24 months of net income from tax returns; add-backs may apply. Some non-QM programs use bank statements.

You have several mortgage options: fixed-rate mortgages, adjustable-rate mortgages (ARMs), FHA loans, VA loans, USDA loans, and jumbo loans. Each type has its own eligibility requirements, benefits, and drawbacks.

Pre-qualification gives you an initial estimate of how much you might be able to borrow based on a basic review of your financial situation. Pre-approval is a more detailed process involving a thorough review of your financial documents and credit history, leading to a conditional commitment from the lender.

Refinancing a mortgage involves replacing your existing loan with a new one, usually to get a lower interest rate, change the loan term, or switch from an adjustable-rate to a fixed-rate mortgage. The process includes applying for the new loan, getting an appraisal, and closing the new loan.

A mortgage is a loan used to purchase a home or other real estate. The borrower agrees to pay back the loan over a set period, typically 15 or 30 years, with interest. The property serves as collateral for the loan, meaning the lender can take possession if the borrower fails to make payments.

To qualify for a mortgage, lenders typically look at your credit score, income, employment history, and debt-to-income ratio. You'll also need to provide documentation such as pay stubs, tax returns, and bank statements. Different types of loans have different qualification criteria.