Frequently Asked Questions

Question 1

How do I know how much home I can afford?

Accepted Answer

A great starting point is our Affordability Calculator, which estimates your maximum purchase price based on your income, debts, and down payment. For a personalized pre-approval, I review your full financial picture — income, credit, assets, and liabilities — to give you a precise number you can shop with confidence.

Question 2

What credit score do I need to buy a home?

Accepted Answer

It depends on the loan type. Conventional loans typically require a 620+ score, FHA loans can go as low as 580 (or 500 with a larger down payment), and VA loans have no official minimum. That said, a higher score usually means a better interest rate. If your score needs work, I can walk you through steps to improve it before you apply.

Question 3

What documents do I need to apply for a mortgage?

Accepted Answer

Most applications require two years of W-2s or tax returns, recent pay stubs (30 days), two to three months of bank statements, a government-issued ID, and information on any current debts. Self-employed borrowers will also need business tax returns and a profit-and-loss statement. I'll give you a personalized checklist once we connect.

Question 4

What is the difference between a conventional and FHA loan?

Accepted Answer

Conventional loans are not government-backed and typically require a 620+ credit score and 3–20% down. They're often the best choice for buyers with strong credit. FHA loans are insured by the Federal Housing Administration, allow lower credit scores and down payments as low as 3.5%, but require mortgage insurance for the life of the loan in most cases. The right choice depends on your credit profile and down payment.

Question 5

Do I qualify for a VA loan?

Accepted Answer

VA loans are available to active-duty service members, veterans, and eligible surviving spouses. They offer no down payment, no private mortgage insurance, and competitive rates — one of the best benefits available to those who've served. If you've served in the military, I'd love to help you take advantage of this benefit.

Question 6

What is a jumbo loan?

Accepted Answer

A jumbo loan exceeds the conforming loan limits set by Fannie Mae and Freddie Mac — currently $806,500 in most areas. These loans are used for higher-priced properties and typically require stronger credit (700+), a larger down payment (10–20%), and more cash reserves. I specialize in jumbo financing for Colorado's luxury market.

Question 7

How long does it take to close on a home?

Accepted Answer

A typical purchase closes in 30–45 days from the time your offer is accepted. Refinances can sometimes close faster. The timeline depends on how quickly documents are gathered, appraisal scheduling, and any conditions from underwriting. I keep you informed at every step so there are no surprises.

Question 8

What is the difference between pre-qualification and pre-approval?

Accepted Answer

Pre-qualification is a quick, informal estimate based on self-reported information — useful for a ballpark figure. Pre-approval is a thorough review of your credit, income, and assets, resulting in a conditional commitment from a lender. Sellers take pre-approval letters much more seriously, and in competitive markets like Colorado, it's essential.

Question 9

What happens at closing?

Accepted Answer

At closing, you'll sign the final loan documents, pay your closing costs and down payment, and receive the keys to your new home. I'll walk you through everything you'll need to bring and review the Closing Disclosure with you in advance so there are no surprises on closing day.

Question 10

Should I lock my interest rate?

Accepted Answer

Rate locks protect you from market fluctuations during the loan process, typically for 30–60 days. If rates are rising or you're close to closing, locking in makes sense. If rates are falling, you may want to wait — though that carries risk. I monitor the market daily and will advise you on the best timing for your situation.

Question 11

What are closing costs and how much should I expect to pay?

Accepted Answer

Closing costs typically range from 2–5% of the loan amount and include lender fees, title insurance, appraisal, prepaid interest, and escrow setup. I'll provide a detailed Loan Estimate early in the process so you know exactly what to expect. In some cases, sellers can contribute toward closing costs as part of your negotiation.

Question 12

Is it worth refinancing my current mortgage?

Accepted Answer

Refinancing makes sense when you can lower your rate, reduce your monthly payment, shorten your loan term, or tap equity for a major expense. A good rule of thumb is the break-even point — how long it takes for your monthly savings to exceed the cost of refinancing. Use our Refinance Break-Even Calculator to run the numbers, or reach out and I'll analyze your specific situation.

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