FAQs
Straight answers to common questions.
Clear responses for buyers and homeowners navigating the mortgage process.
Timelines vary by transaction complexity, documentation readiness, appraisal scheduling, and underwriting conditions. Many purchase loans complete in several weeks, but some take longer.
Pre-qualification is often a lighter estimate based on stated information. Pre-approval typically involves a deeper review of documents and credit, though it is still not a final commitment to lend.
Not automatically. Compare the new payment, term, and closing costs against how long you expect to keep the loan. A small rate change may or may not support your goals.
Income documentation, asset statements, identification, and details about the property or existing mortgage are common. Exact requirements depend on your scenario and loan program.
It depends on the loan program, credit profile, and property. Some options allow lower down payments, while others may work better with larger equity contributions.