Pre-qualification is an estimate of how much you can borrow based on your financial information, while pre-approval is a more thorough process that involves verifying your income, assets, and credit. Pre-approval provides a stronger assurance to sellers that you're a serious buyer.

Typically, you’ll need to provide proof of income, tax returns, bank statements, identification, and information about your debts and assets. Our experts will guide you on the specific documents required for your application.

The amount you need varies by loan type. Conventional loans typically require 5-20%, FHA loans allow for as little as 3.5%, and VA and USDA loans often require no down payment. We can help you explore options that fit your financial situation.

Most loan programs require a minimum credit score. Conventional loans usually require 620 or higher, FHA loans start at 580 (or 500 with a larger down payment), and VA or USDA loans have more flexible requirements. Better credit typically means better rates.

The best loan program for you depends on your unique financial situation, goals, and eligibility. Factors like your credit score, income, down payment amount, and the type of property you’re purchasing all play a role. For example, FHA Loans are great for those with limited savings or lower credit, while Conventional Loans are ideal for borrowers with strong credit and larger down payments. VA Loans offer excellent benefits for veterans, USDA Loans are perfect for rural buyers, and Jumbo Loans suit high-value properties. Consulting with a mortgage professional can help you identify the program that aligns with your needs and goals.

Your interest rate depends on market conditions, your credit score, and the loan type. We can compare rates across lenders and lock in the best option available to you.

PMI is required for conventional loans when your down payment is less than 20%. It protects the lender if you default on your loan. Some loan programs, like VA loans, don’t require mortgage insurance at all.