Questions
Straight answers, no jargon.
The questions buyers actually ask, answered plainly. If yours isn't here, book a call and ask me directly.
Getting started
- How do I start? What's the first step?
- A 10 to 15 minute call. No paperwork, no commitment. We talk through your situation and I tell you which programs fit and what your range looks like. You can book a call or start a pre-approval whenever you're ready.
- Do I need money or documents ready for the first call?
- No. The first call is just a conversation. Documents (pay stubs, W-2s, bank statements, ID) come after, once we've decided it makes sense to move toward a pre-approval.
- How much does it cost to work with you?
- The first call and the guidance cost you nothing. Mortgage costs (closing costs, any points) are part of the loan itself, and I walk you through every number before you commit to anything.
- How long does the whole process take?
- The first call is 10 to 15 minutes. Pre-approval is often same-day to 24 hours after I have your documents. Once you're under contract, closing usually runs 15 to 30 days.
- Do you only work with first-time buyers?
- First-time buyers are who I'm known for, but no. My team and I handle the full range: move-up buyers, refinancing, self-employed borrowers, investors, veterans, and more. See the loan programs page for everything.
- What if my credit isn't great yet?
- That's common and it's fixable. I offer a free credit analysis to find the specific things that will move your score, then we build a plan. Plenty of buyers I work with start exactly there.
By loan program
Questions specific to each program. Tap any program name for the full page.
FHA loans→
- Is an FHA loan only for first-time buyers?
- No. FHA is popular with first-time buyers because of its flexibility, but it's open to repeat buyers too, as long as the home will be your primary residence.
- Do I need perfect credit for an FHA loan?
- No. FHA is one of the more forgiving programs on credit. If your score isn't there yet, I'll run a free credit analysis and show you what moves the needle.
- What's the catch with FHA?
- FHA loans include mortgage insurance, which adds to the monthly payment. For many buyers it's a fair trade for getting into a home sooner. We compare it against conventional so you can see the difference.
Conventional loans→
- Conventional or FHA, which is better?
- It depends on your credit and savings. Conventional usually wins when your finances are strong; FHA wins when you need flexibility. On our first call I'll run both so you can compare real options side by side.
- What is an ARM and is it risky?
- An adjustable-rate mortgage starts with a lower fixed rate for a set period (say 5, 7, or 10 years), then can adjust. It makes sense if you don't plan to stay long. I'll only suggest it if the math fits your plans.
VA loans→
- Do I have to be a first-time buyer to use a VA loan?
- No. VA loan benefits can be used more than once, and restored after a previous VA loan is paid off. I'll check your entitlement.
- Can I use a VA loan with no money at all?
- Eligible borrowers can often buy with no down payment, though there are closing costs and a VA funding fee to plan for. Some veterans are exempt from the funding fee. We'll go through your specifics.
USDA loans→
- Does USDA mean the house has to be on a farm?
- No. The eligible map covers many suburban areas, not just rural land. Send me an address and I'll tell you in a minute whether it qualifies.
- How do I know if I'm under the income limit?
- USDA sets household income caps by area and family size. It's a quick check, send me your numbers and the area and I'll confirm.
Jumbo loans→
- At what price does a loan become jumbo?
- It's tied to the conforming loan limit, which changes by year and county. In much of NoVA the threshold is higher than the national baseline. I'll tell you the exact number for your target area.
- Is a jumbo loan harder to get?
- It asks for a stronger file, more reserves and tighter documentation, but it's routine in this market. We prepare the file so there are no surprises.
Down payment assistance→
- Do I have to pay down payment assistance back?
- It depends on the program. Some are grants you don't repay; others are second loans with their own terms. I'll lay out exactly how each one you qualify for works.
- Is the 1-percent-down program real?
- Yes, Finance USA offers low-down options including a 1-percent-down program for eligible clients. Whether you qualify depends on your specifics, which we go through on the call.
Refinance→
- When is refinancing actually worth it?
- When the monthly savings pay back the cost of the refinance before you'd sell or move. I'll calculate that breakeven for you honestly, even if the answer is "not yet."
- How long does a refinance take?
- Often less time than a purchase, since there's no home search or closing date pressure. We'll set expectations once we see your file.
Cash-out refinance→
- How much equity do I need to cash out?
- Lenders keep a cushion of equity in the home, so you can't pull all of it. I'll tell you roughly how much is available once I know your value and balance.
- Is a cash-out refinance a good way to pay off debt?
- Sometimes. Trading high-interest debt for lower-rate mortgage debt can help, but it stretches the payoff over years. We run it both ways before you decide.
FHA Streamline refinance→
- Who qualifies for an FHA Streamline?
- You need a current FHA loan that's in good standing, and the refinance generally has to produce a real benefit, like a lower payment. I'll confirm you fit before we start.
- Do I need a new appraisal?
- FHA Streamlines often require less than a full refinance. I'll tell you exactly what your case needs once I see the loan.
Bank statement loans→
- I was denied because of my tax write-offs. Can this help?
- Often, yes. Bank statement loans exist precisely for business owners whose returns understate their income. We look at deposits instead. Send me a couple of months and I'll give you a read.
- How many months of statements do I need?
- Programs commonly look at 12 to 24 months of personal or business statements. I'll tell you exactly which once I understand your business.
DSCR investor loans→
- What does DSCR actually measure?
- It's the ratio of the property's rental income to its loan payment. If the rent comfortably covers the payment, the deal qualifies, largely independent of your personal income.
- Can I use a DSCR loan for my first rental?
- Yes. It's common for both first-time and experienced investors. We'll look at the property's projected rent and structure it from there.
Non-QM loans→
- Is Non-QM the same as a bad-credit loan?
- No. Non-QM is for creditworthy borrowers who don't fit the standard template, often the self-employed or investors. It's about how you document, not a lower bar.
- Which Non-QM program is right for me?
- It depends on your income picture. Bank statement loans suit business owners; DSCR suits investors. On a call I'll point you to the right one.
Foreign national loans→
- Can I buy in the US without a green card?
- Yes. Foreign national programs are designed for non-citizens, including those without permanent residency. Requirements vary, and we'll go through yours together.
- Do I need US credit?
- Not necessarily. These loans are built for buyers without a US credit file. We document your qualifications through other means.
Home equity & HELOC→
- HELOC or cash-out refinance, which should I use?
- If your first mortgage rate is low, a HELOC usually wins because it leaves that loan alone. If you'd benefit from redoing the whole mortgage, cash-out may be better. We compare both.
- What can I use a HELOC for?
- Anything, but it's smartest for renovations, consolidating higher-interest debt, or other goals that build or protect value. We'll talk through your plan.
Reverse mortgages→
- Who qualifies for a reverse mortgage?
- These are generally for older homeowners, often 62 or older, with substantial equity. Exact age and equity requirements depend on the program, which we'll review together.
- Will my kids inherit the home?
- A reverse mortgage is repaid from the home's value later, which affects what's left to heirs. It's an important family conversation, and I'll make sure everyone understands it before anything is signed.
Construction loans→
- How is a construction loan different from a regular mortgage?
- It pays out in stages during the build and then converts to a permanent mortgage when the home is done. There's more coordination, which is exactly what I manage for you.
- Can it cover both the land and the build?
- Often, yes, depending on the structure. We'll map the full cost, land, build, and conversion, before you commit.
Commercial loans→
- Do you finance investment and owner-occupied commercial property?
- Yes, both, along with mixed-use. The structure depends on the property and how it's used. Let's talk through the specific deal.
- How is commercial underwriting different?
- It leans more on the property's income and the business than on personal income alone. I'll tell you what a given deal will need to qualify.
Still have a question?
Ask me directly. The first call is short and there's no pressure.