Frequently Asked Questions


What is the difference in being pre-qualified and pre-approved?

Being pre-qualified is based on the information you provide verbally, which will then allow us to give you an estimate on the amount that you are able to borrow. A Pre-approval means that your information is evaluated thoroughly. It is a closer estimation of how much you will be approved for.


What types of documents are needed for the mortgage process?

You [and your co-borrower, if applicable] will need the following documents when applying for a loan:

  • Most recent 30 days’ worth of paystubs
  • Most recent 2 months’ worth of asset accounts
  • Most recent 2 years personal tax returns (and business returns if applicable) 
  • Copy of driver’s licenses

How do I know what type of mortgage is best for me?

There are many factors that could impact the type of loan that you qualify for. You could reach out to your local loan originator to find out what loan you qualify for. If you need more information on the various types of loans, check out our Loan Types page.


What is an appraisal?

Report put together by a professional appraiser to determine the value of your home. Most recent comparable sales are used to determine this figure.


What do closing costs consist of?

Closing costs include:

  • Loan Origination fees
  • Appraisal fees
  • Discount Points
  • Title Insurance
  • Taxes
  • Surveys
  • Credit Report charges
  • Deed-recording fees
  • Title Searches

Can I still qualify for a mortgage, even if I have filed for bankruptcy in the past few years?

Yes, you can qualify for a mortgage as long as the seasoning requirements for the specific loan type have been met. This is something you can discuss with your Loan Originator in detail.