Mortgage Questions, Answered

It depends on the program, and your score is only part of the picture. FHA financing can start at a 500 score, and collections, a late payment or a thin credit file are exactly what the right program is built for. Tell us your score range and we’ll show you which doors are open.

Often, yes. Bank-statement programs qualify you on 12 to 24 months of deposits instead of your tax returns — that’s why they fit business owners whose write-offs lower their taxable income. 1099 earners have paths too.

Often, yes. Many programs accept an IRS payment plan in good standing, with the monthly payment counted in your budget, and some bank-statement programs don’t use tax returns at all. A recorded tax lien usually has to be on a plan or paid, so tell us where things stand and we’ll map the cleanest path.

It’s less about one income number and more about how the full payment fits next to your other monthly debts — lenders call it your debt-to-income ratio. Share your price range and monthly debts, and we’ll show you what fits.

Usually, yes. Each program sets its own waiting period after a bankruptcy or foreclosure, and documented circumstances can shorten some of them. Some programs can finance you sooner, with a plan to refinance later.

A new job rarely stops a mortgage, especially in the same line of work. Retired? Social Security, pensions and retirement-account withdrawals can all count as income, and some programs can qualify you on your savings.

No. Getting started with us doesn’t pull your credit. When you’re ready for a full pre-approval we ask your permission first, and credit scores generally count several mortgage checks in a short shopping window as one. We can also use VantageScore 4.0, the newer credit score now accepted for Fannie Mae and Freddie Mac loans. It counts on-time rent, utility and phone payments when they’re reported, so for many borrowers it comes in higher than the older score.

Often less than people think. Some programs — including VA loans for eligible veterans and service members — are built for buyers with little saved. We’ll show you which ones apply to you.

Usually, yes. Those payments count toward your debt-to-income ratio, but they rarely disqualify you on their own. What matters is how much room is left for the housing payment.

It depends on how you earn your income. W-2 employees usually need recent pay stubs, W-2s and two months of bank statements; self-employed borrowers on a bank-statement program use 12 to 24 months of statements instead of tax returns. We’ll send you a short checklist made for your situation, so you only gather what your loan actually needs.