Frequently Asked Questions

An abundance of credit inquiries can sometimes affect your credit scores since it may indicate that your use of credit is increasing. The data used to calculate your credit score doesn't include any mortgage or auto loan credit inquiries that are made within the 30 days prior to the score being calculated. In addition, all mortgage inquiries made in any 14-day period are always considered one inquiry. Don't limit your mortgage shopping for fear of the effect on your credit score.

With your permission, we'll access your credit file to evaluate your online application. Please visit our Rates Dashboard for current rates.

That depends on the purpose of your loan, how you use the property, and the loan type you choose. The best way to determine what loan amount we can offer is to begin our online application. You may also call 800-342-3086 and make an appointment with a Mortgage Loan Originator.

Yes, on certain loan types, you can borrow secured funds to use as your down payment. Just make sure to include the details in the expenses section of the application.

Generally, the income of self-employed borrowers is verified by obtaining copies of personal (and business, if applicable) federal tax returns for the most recent two-year period. We'll review and average the net income from self-employment that's reported on your tax returns to determine the income that can be used to qualify. We won't be able to consider any income that hasn't been reported as such on your tax returns. Typically, we'll need a full two-year history of self-employment to verify that your self-employment income is stable.

In order for bonus, overtime, or commission income to be considered, you must have a history of receiving it, and it must be likely to continue. We'll usually need to obtain copies of W-2 statements for the previous two years and a recent pay stub to verify this type of income. If a major part of your income is commission earnings, we may need to obtain copies of recent tax returns to verify the amount of business-related expenses, if any. We'll average the amounts you have received over the past two years to calculate the amount that can be considered as a regular part of your income. If you haven't been receiving bonus, overtime, or commission income for at least one year, it probably can't be given full value when your loan is reviewed for approval.

We will ask for copies of your recent pension check stubs or bank statement if your pension or retirement income is deposited directly in your bank account. Sometimes it will also be necessary to verify that this income will continue for at least three years since some pension or retirement plans do not provide income for life. This can usually be verified with a copy of your award letter. If you don't have an award letter, we can contact the source of this income directly for verification.

Yes. If you begin your mortgage application now, we can issue a pre-qualification letter subject to you finding the perfect home. You can use the pre-qualification letter to assure real estate brokers and sellers that you are a qualified buyer. Having a pre-qualification for a mortgage may give more weight to any offer to purchase that you make. When you find the perfect home, you'll simply call your Mortgage Loan Originator to complete your application. You'll have an opportunity to lock in our great rates and fees, and we'll complete the processing of your request.