Twenty-four questions, answered properly

Pre-qualified means we listened to what you told us and did the math. Pre-approved means we verified it: pay stubs, tax returns, bank statements and a credit pull, reviewed by an underwriter. In metro Atlanta's market, a pre-qualification letter is close to worthless in a multiple-offer situation. We issue full pre-approvals.

One business day once your documents are uploaded, and often the same afternoon. The slow part is almost never us, it is waiting on a W-2 you have to dig out of an email from February.

A mortgage inquiry typically costs a few points and recovers within a couple of months. All mortgage inquiries within a 45-day window count as one, so shopping several lenders does not multiply the damage.

620 opens conventional financing and 580 opens FHA. Below that we can usually build a plan, and Carmen on our team does this specifically. Plenty of our closings started as a conversation about a 540 score eighteen months earlier.

Less than you think. Conventional starts at 3%, FHA at 3.5%, and VA and USDA at zero. Georgia assistance programs can cover most or all of it for eligible buyers, which is why we screen every first-time buyer for assistance before anything else.

No. Consultations, break-even analyses, USDA address checks and assistance screens are all free and carry no obligation.

They are illustrative sample figures published to show relationships between programs, not an offer or a quote. Your actual rate depends on credit, loan size, down payment, property type, occupancy and the day you lock. Call us for a real quote, which takes about fifteen minutes.

The rate determines your monthly principal and interest. The APR folds in most lender fees and expresses the total as an annualized percentage, so it is the fairer number for comparing two lenders. A low rate with high fees can carry a worse APR than a slightly higher rate with none.

Budget roughly 2% to 3% of the purchase price, covering title, attorney, appraisal, transfer tax, recording, lender fees and prepaid escrow. On a $375,000 home that is about $9,000 to $11,000 before any seller credit (sample figures).

Often yes, within program caps. Conventional allows 3% to 9% depending on down payment, FHA allows 6%, VA allows 4% in concessions plus all standard closing costs, and USDA allows 6%. We tell your agent the exact cap before the offer is written.

Only if you will stay long enough to recover the cost. One point on a $400,000 loan is $4,000 and might save $85 a month, which breaks even around month 47. If you expect to move or refinance sooner, keep the cash.

Once you are under contract. Standard locks run 30 to 60 days, and we include a one-time float-down on purchase locks so you are not punished if the market improves before closing.

Our median purchase closed in 19 days over the last twelve months (sample figure). Refinances run two to three weeks plus a mandatory three business day rescission period. USDA files add several days for the state office commitment.

Two most recent pay stubs, two years of W-2s, two months of bank statements for every account, photo ID, and two years of tax returns if you are self-employed or have rental income. Everything uploads from your phone.

Underwriting must confirm your down payment is not borrowed. Any deposit that is not payroll and is larger than about half your monthly income needs a paper trail. Tell us about it up front and it takes two minutes instead of two rounds of conditions.

Three options: the seller lowers the price, you cover the gap in cash, or we file a reconsideration of value with better comparable sales. We do the third one ourselves rather than telling you to sort it out.

Tell us first. A lateral move in the same field is usually fine, a switch from salary to commission is not, and starting your own business will stop the file. One phone call before you accept anything can save the closing.

The final three-page statement of your loan terms and costs. Federal law requires you to receive it three business days before closing, so you have time to compare it against your Loan Estimate. We walk through it with you line by line.

It is real money, and a lot of it goes unclaimed in Georgia each year because the applications add work. Sample state and city programs range from $7,500 to $12,500 toward down payment and closing costs for eligible buyers.

Depends on the program. Some are forgiven after five to ten years of living in the home, some are repaid when you sell or refinance, and some carry a small zero-interest second payment. We tell you which type you are getting in writing before you commit.

Most programs define first-time as no ownership interest in a primary residence during the last three years. If you sold in 2021, you likely qualify again.

Yes, completely. Eleven of our loan officers close files in Spanish, including the attorney walkthrough at the closing table. Our Spanish-language page explains the whole process, and Marisol Quintero leads that practice.

Yes, and it is a large part of what Dev Ramanathan does. Bring two years of personal and business returns plus a year-to-date profit and loss statement, and we will tell you within a day how underwriting will read your income.

Constantly. If you are six, twelve or eighteen months away, we will build the credit and savings plan, check in quarterly, and be there when the timing works. There is no charge for any of it.