Frequently Asked Questions About the Mortgage Process

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A pre-qualification is usually an initial conversation about your finances to help estimate how much you may be able to borrow. A pre-approval is more detailed and may include a review of income, assets, credit, and documentation. Final approval always depends on full underwriting review and meeting program and lender requirements. Add an answer to this item.

Down payment requirements depend on the loan program and your eligibility. Some programs may allow low or no down payment for qualified borrowers, while others require more. You’ll also want to budget for closing costs and reserves where applicable. Add an answer to this item.

Closing costs may include lender fees, title and settlement services, taxes, insurance, prepaid items, and government recording fees. The total amount varies by property, location, program, and loan terms. I provide detailed cost estimates so you know what to expect. Add an answer to this item.

Timelines vary depending on the loan program, documentation, appraisal timing, and other factors. Many loans close in 30–45 days, though some are faster or slower depending on the situation. Add an answer to this item.

No. Different loan programs have different credit guidelines. Lenders generally review your full credit profile — not just the score — along with income, debts, and other factors to determine eligibility. Add an answer to this item.

 Yes. Self-employed borrowers can qualify, but income is typically documented using tax returns and business financials. Because deductions can reduce qualifying income, planning ahead is especially helpful. Add an answer to this item.

Lenders usually review your income, debts, credit history, assets, employment stability, and the type of property you’re buying. Your debt-to-income ratio (DTI) and overall financial profile both matter. Add an answer to this item.

Mortgage insurance may apply when the down payment is below certain thresholds, depending on the program. It helps protect the lender and may allow eligible borrowers to purchase with a lower down payment. Requirements vary across FHA, VA, and conventional loans. Add an answer to this item.

With a fixed-rate mortgage, the interest rate stays the same for the entire loan term. With an ARM, the rate is fixed for an initial period and then may adjust periodically based on the program’s index and margin. Understanding potential payment changes is important when considering an ARM. Add an answer to this item.

Documentation may include identification, recent pay stubs, W-2s, tax returns, bank statements, asset statements, and information about debts or other properties. Requirements vary by program and borrower profile. dd an answer to this item.

Some programs may allow low or no down payment options for eligible borrowers. Availability depends on financial profile, property type, location, and loan program rules. Add an answer to this item.

Yes, I frequently work with VA-eligible borrowers. VA loans are available to qualifying service members, veterans, and some surviving spouses. Eligibility is verified through a Certificate of Eligibility (COE) and qualification depends on full underwriting review. Add an answer to this item.

A great first step is to talk with a mortgage professional to review your goals, income, debts, and credit. This helps you understand what price range and programs may fit your situation before you start shopping. Add an answer to this item.

I’m licensed in Florida and proudly serve buyers and homeowners throughout Brevard County and Florida’s Space Coast — including Palm Bay, Melbourne, Viera, Cocoa, Titusville, and surrounding areas. Add an answer to this item.

If you don’t see your question here, I’m always happy to help. Every borrower’s situation is unique, and my goal is to make the process clear and manageable from the very beginning.