FAQ’s

Mortgage brokers help homebuyers, homeowners, and investors compare mortgage rates, choose the best loan program, complete the mortgage application, and guide the loan through closing. We offer home purchase loans, refinancing, reverse mortgages, commercial loans, and specialized programs such as Bank Statement, DSCR, and Florida Hometown Heroes loans

Mortgage brokers usually earn a commission from the lender for securing a loan on behalf of a borrower. The commission is typically a percentage of the loan amount. This commission is usually paid by the lender as a lender credit to the borrower.

Mortgage brokers have access to a wide range of loan products that banks don’t have and can help individuals find the best loan option or product for there needs and circumstances. Banks, on the other hand, typically only offer basic loan products that only serve a certain segment of the market.

A Reverse Mortgage allows homeowners age 62 and older to convert a portion of their home equity into tax-free cash with no required monthly mortgage payments, while retaining ownership of their home.

Not necessarily. While mortgage brokers may charge a fee for their services, they usually can match and usually beat any bank or retail lenders rates and fees. They can save borrowers money by finding them the best loan program, finding them the best rates , and saving time for borrowers by finding a loan with the least amount of conditions from a lender.

You can ask for recommendations from friends and family, check with professional organizations such as the National Association of Mortgage Brokers, or go to www.Findamortgagebroker.com. Great resource for mortgage brokers in your area. You can also Google mortgage brokers in your area and look for one with the highest and best ratings.

To help a mortgage broker assess your loan eligibility and find the best loan option, you must provide personal and financial information such as your employment status, income, assets, and credit history. You usually need to provide 2 years tax returns and W2’s, last 30 days paystubs and last 2 month bank statements of all assets in the bank including retirement accounts. This documentation can very based on qualifications and loan product. Example: Lender might only need W2’s and paystubs not tax returns if a borrower doesn’t own other property and is a salaried or hourly employee. Example 2: Bank statement loans borrower might only need to provide any where from 3 months of bank statements to 24months.

Most mortgage loans close in approximately 21 to 30 days, depending on the loan type and documentation required. Some loans, including FHA, VA, Conventional, and refinance transactions, may close faster when all documents are provided promptly.

A mortgage pre-approval is a lender’s written commitment stating how much you may qualify to borrow based on your credit, income, assets, and employment. A pre-approval strengthens your purchase offer and helps you shop for homes with confidence.

Pre-qualification is an informal estimate based on information you provide. Pre-approval is a more thorough review of your credit, income, assets, and employment. A mortgage pre-approval carries more weight with real estate agents and sellers when making an offer on a home.

Yes. We work with lenders offering FHA loans, VA loans, Non-QM loans, and other programs designed for borrowers with lower credit scores. Depending on your overall financial profile, options may be available even if your credit is less than perfect.

Yes. Non-QM loans include Bank Statement Loans, DSCR Loans, 1099 Loans, Asset Depletion Loans, Interest-Only Loans, and other flexible financing options for borrowers who do not fit traditional guidelines.

Yes, you can still work with a mortgage broker even if you have a lender in mind. A mortgage broker can help you compare the loan terms and interest rates from different lenders to ensure you are getting the best deal possible.

A DSCR loan allows real estate investors to qualify based on the property’s rental income rather than personal income. These loans are ideal for rental properties and investment homes.

Yes. We offer rate-and-term refinances, cash-out refinances, FHA Streamline refinances, VA IRRRL loans, and reverse mortgage refinances. Refinancing may help lower your interest rate, reduce your monthly payment, or access home equity.

Because mortgage brokers compare rates from multiple wholesale lenders, borrowers often receive more competitive pricing and lower fees than they might find by going directly to a single bank. Savings vary based on credit score, loan type, and market conditions.

Yes. Bank Statement Loans allow self-employed borrowers to qualify using 12 to 24 months of personal or business bank statements instead of tax returns. These loans are ideal for business owners, freelancers, and independent contractors.

Yes. We offer Bank Statement Loans, 1099 Loans, Profit and Loss Loans, and Asset Depletion Loans designed specifically for self-employed borrowers and business owners.

The minimum credit score depends on the loan program. FHA loans may allow scores as low as 580 with 3.5% down, while Conventional loans typically require higher scores. VA loans and Non-QM programs may offer flexible options depending on your overall financial profile.

The Florida Hometown Heroes Program provides eligible Florida workers with down payment and closing cost assistance. Teachers, healthcare professionals, law enforcement officers, firefighters, and many other occupations may qualify.

Yes. We provide commercial financing for office buildings, retail centers, mixed-use properties, warehouses, self-storage facilities, and multifamily properties throughout Florida.

An FHA 203(k) loan allows borrowers to finance both the purchase or refinance of a home and the renovation costs in a single mortgage.

Yes. Many loan programs allow gift funds from eligible family members to be used for part or all of the down payment and closing costs.

A 2-1 temporary buydown reduces the interest rate by 2% in the first year and 1% in the second year, lowering monthly payments during the initial years of the loan.

Yes. We offer a variety of down payment assistance programs, including Florida Hometown Heroes and other state and local programs for qualified homebuyers.

Yes. DSCR loans allow real estate investors to qualify based on rental income without providing tax returns or traditional income documentation.

Yes. We provide financing for second homes and vacation properties with competitive rates and flexible down payment options for qualified borrowers.

Yes. We offer financing for single-family rentals, condos, multifamily properties, and other investment properties, including DSCR and conventional investor loan options.

Yes. Asset Depletion Loans allow qualified borrowers to use retirement accounts, investment accounts, and other liquid assets to qualify for a mortgage without traditional employment income.

Yes. Interest-only mortgage options are available for qualified borrowers seeking lower initial monthly payments, particularly for jumbo and investment property financing.

Yes. We offer financing for qualified condo hotel properties, including programs for both primary residences and investment purposes.