FAQs

Most conventional loans require a credit score of 620 or higher, while FHA loans may allow scores as low as 580 with a qualifying down payment. However, higher credit scores typically result in better interest rates and loan terms.

Down payment requirements vary depending on the loan program. Some buyers may qualify for programs requiring as little as 3% down, while FHA loans often require 3.5%. In some cases, eligible borrowers may even qualify for down payment assistance programs.

A mortgage pre-approval is a lender’s written estimate of how much you may qualify to borrow. It strengthens your offer when buying a home and gives you confidence in your budget while house hunting.

The mortgage process typically takes 30–45 days from application to closing, depending on the complexity of the loan and how quickly required documents are provided.

Most mortgage applications require basic financial documentation such as:

• Recent pay stubs

• W-2s or tax returns

• Bank statements

• Photo identification

• Employment information

Providing these early can help speed up the approval process.

We offer a variety of loan options designed to fit different financial situations, including:

• Conventional loans

• FHA loans

• VA loans

• Jumbo loans

• Home Equity Line of Credit (HELOC) loans
• Doctor loans
• USDA loand

• Refinance options

Our team helps match you with the loan program that best fits your goals.

Yes. Refinancing allows homeowners to potentially lower their interest rate, reduce monthly payments, shorten the loan term, or access home equity through a cash-out refinance.

At Homelendia Mortgage Group, we combine industry expertise, personalized guidance, and a commitment to five-star service. Our team focuses on clear communication and helping you navigate the mortgage process with confidence from application to closing.

Closing costs are fees associated with finalizing your mortgage and typically range from 2% to 5% of the home’s purchase price. These may include appraisal fees, title insurance, lender fees, and prepaid taxes or insurance. Your lender will provide a detailed estimate early in the loan process so there are no surprises at closing.

Pre-qualification is a quick estimate of what you may be able to borrow based on basic financial information. Pre-approval is more detailed and involves verifying your credit, income, and assets. A pre-approval letter carries more weight with sellers and shows you are a serious buyer.

A fixed-rate mortgage keeps the same interest rate and payment throughout the life of the loan, offering stability and predictability. An adjustable-rate mortgage (ARM) may start with a lower rate that can change over time based on market conditions. The best option depends on your financial goals and how long you plan to stay in the home.

Even a small difference in interest rates can significantly impact your monthly mortgage payment and the total interest paid over time. That’s why working with a knowledgeable lender who can help you secure competitive rates is important.

Yes. Many programs are designed specifically for first-time buyers, including low down payment options, flexible credit requirements, and down payment assistance programs. These programs can make homeownership more accessible for qualified borrowers.

It’s best to start the mortgage process before you begin seriously looking for homes. Getting pre-approved early helps you understand your budget, strengthens your offer, and allows you to move quickly when you find the right property.

In many cases, borrowers can receive a pre-approval within 24 hours after submitting the required documents. Our team works quickly to review your information so you can confidently begin your home search.

Yes. Many borrowers successfully qualify for mortgages while carrying student loan debt. Lenders evaluate your overall debt-to-income ratio, income stability, and credit history to determine eligibility.

Self-employed borrowers can absolutely qualify for a mortgage. You will typically need to provide two years of tax returns, bank statements, and business documentation to verify income.

A mortgage application may cause a small, temporary inquiry on your credit report, but this impact is usually minimal. In fact, multiple mortgage inquiries within a short period are typically treated as a single inquiry when rate shopping.

Being declined previously doesn’t mean homeownership isn’t possible. Our team can review your situation, identify what may have caused the denial, and help create a clear path toward approval.