Question 1

How much do I need for a down payment?

Accepted Answer

It depends on the loan program. FHA loans require as little as 3.5% down, Conventional loans can go as low as 3%, and VA and USDA loans offer zero down payment options. Morgan will help you find the best program based on your situation.

Question 2

What credit score do I need to buy a home?

Accepted Answer

Minimum credit scores vary by loan type. FHA loans may accept scores as low as 580 (or 500 with 10% down). Conventional loans typically require 620+. We also have specialized programs for borrowers with limited or no credit history.

Question 3

How long does the mortgage process take?

Accepted Answer

On average, the mortgage process takes 30-45 days from application to closing. However, with proper preparation and responsiveness, we often close faster. Getting pre-qualified early helps speed things up.

Question 4

What documents do I need to apply for a mortgage?

Accepted Answer

Typically you will need: two years of tax returns, recent pay stubs, two months of bank statements, W-2s, and a valid ID. Self-employed borrowers may use bank statements instead of tax returns with our Bank Statement Loan program.

Question 5

Can I get a mortgage if I am self-employed?

Accepted Answer

Absolutely! We have several options for self-employed borrowers, including Bank Statement Loans, 1099 Income Loans, Profit & Loss (P&L) Statement Loans, and Asset-Based Loans. The right program depends on your specific situation. Contact Morgan to find the best fit for you.

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