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Knowledge is Power.

Guides, definitions, and checklists to help you understand your loan from start to close.

Common questions

Q1

How much do I need for a down payment?

It depends on the loan type. FHA loans require as little as 3.5%, conventional loans typically 3–5%, and VA / USDA loans can be 0% down for eligible borrowers. Your broker will walk you through the tradeoffs for your situation.

Q2

What credit score do I need to get approved?

Most conventional lenders want a 620+ score. FHA loans accept scores down to 580 (or lower with a larger down payment and compensating factors). Higher scores unlock better rates — aim for 740+ to hit the top pricing tier.

Q3

How long does the whole process take?

From application to funded, most purchases close in 30–45 days. The biggest variable is how quickly documents arrive — having everything ready on day one can shave a week or more off the timeline.

Q4

When should I lock my interest rate?

Rates move daily. Once you have an accepted offer and a payment you can live with, locking is usually the right call — it removes the risk that rates move against you while your file is in underwriting. Your broker will advise on timing.

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