FAQ — Mortgages Statewide

Question 1

What types of mortgage are you interest in?

Accepted Answer

We specialize in residential home mortgages— from first-time buyers acquiring their first home or borrowers looking to get cash of their existing equity. We also work with veterans using VA benefits, homeowners 62+ exploring reverse mortgages, and homeowners seeking conventional or FHA financing.

Question 2

How do I get started?

Accepted Answer

The fastest way is to fill out our contact form or call us directly. We'll schedule a brief consultation to understand your goals, review your situation, and identify the loan products that fit best. From there, we'll walk you through pre-qualification and the full application process.

Question 3

How long does the mortgage process take?

Accepted Answer

Timelines vary by loan type. Conventional loans typically close in 21–30 days. FHA and VA loans may take 30–45 days due to additional government requirements. Reverse mortgages generally take 30–60 days. We work to move as fast as your deal requires.

Question 4

Do you lend in my state?

Accepted Answer

Yes, we specialize in all mortgages throughout the state of Florida. We can originate and close your loan.

Question 5

What is the difference between a conventional loan and an investment property loan?

Accepted Answer

A conventional loan follows Fannie Mae or Freddie Mac guidelines and can be used for primary residences, second homes, or investment properties. An investment property loan is specifically structured for non-owner-occupied properties and may use DSCR (Debt Service Coverage Ratio) underwriting — qualifying based on the property's rental income rather than your personal income. Investment property loans often have slightly higher rates but offer more flexibility for portfolio investors.

Question 6

Can I use an FHA loan for an investment property?

Accepted Answer

FHA loans require owner-occupancy — you must live in the property as your primary residence. However, FHA loans are available for 1–4 unit properties, so you can purchase a duplex, triplex, or fourplex, live in one unit, and rent the others. This is a common strategy for investors building their first portfolio.

Question 7

Who qualifies for a VA loan?

Accepted Answer

VA loans are available to veterans, active-duty service members, National Guard and Reserve members (with qualifying service), and eligible surviving spouses. You must obtain a Certificate of Eligibility (COE) from the VA. Like FHA loans, VA loans require owner-occupancy but can be used for multi-unit properties up to four units.

Question 8

What is a reverse mortgage and who is it for?

Accepted Answer

A reverse mortgage — most commonly an FHA-insured Home Equity Conversion Mortgage (HECM) — allows homeowners 62 and older to convert a portion of their home equity into funds with no monthly mortgage payments required. The loan balance grows over time and is repaid when the home is sold, the borrower permanently moves out, or the estate settles. It's a powerful tool for retirement income, healthcare costs, or improving monthly cash flow.

Question 9

What is a DSCR loan?

Accepted Answer

A DSCR (Debt Service Coverage Ratio) loan qualifies borrowers based on the income-generating potential of the property rather than personal income or tax returns. If the property's rental income covers the mortgage payment (typically a ratio of 1.0 or higher), you may qualify — making it ideal for self-employed investors or those with complex income structures.

Question 10

What interest rates can I expect?

Accepted Answer

Rates vary based on loan type, credit score, loan-to-value ratio, property type, and current market conditions. Investment property loans typically carry rates 0.5–1.0% higher than primary residence loans due to increased risk. VA loans often offer the most competitive rates. We'll provide a personalized rate quote during your consultation — we don't publish generic rates because they rarely reflect what you'll actually qualify for.

Question 11

What are the typical closing costs?

Accepted Answer

Closing costs generally range from 2–5% of the loan amount and include origination fees, appraisal, title insurance, recording fees, and prepaid items like homeowners insurance and property taxes. We provide a detailed Loan Estimate early in the process so there are no surprises at closing.

Question 12

Are there prepayment penalties?

Accepted Answer

Most conventional, FHA, and VA loans have no prepayment penalties. Some investment property and DSCR loan products may include a prepayment penalty period (typically 1–5 years). We'll clearly disclose any prepayment terms before you commit to a loan.

Question 13

What credit score do I need?

Accepted Answer

Requirements vary by loan type. Conventional loans typically require a minimum 620 score, with the best rates available at 740+. FHA loans accept scores as low as 580 (with 3.5% down) or 500–579 (with 10% down). VA loans have no official minimum but most lenders look for 620+. Investment property and DSCR loans generally require 660–680+. We'll assess your full profile and find the best available option.

Question 14

How much do I need for a down payment?

Accepted Answer

Down payment requirements depend on the loan type. FHA loans require as little as 3.5%. VA loans require zero down. Conventional loans for investment properties typically require 15–25% down. DSCR and investment property loans often require 20–25%. Reverse mortgages have no down payment — they draw on existing equity.

Question 15

Can I qualify if I'm self-employed?

Accepted Answer

Yes. Self-employed borrowers can qualify through standard income documentation (two years of tax returns and profit/loss statements) or through alternative documentation programs. DSCR loans are particularly well-suited for self-employed investors because they qualify based on property income rather than personal income, eliminating the need for tax returns entirely.

Question 16

How many investment properties can I finance?

Accepted Answer

Fannie Mae guidelines allow financing up to 10 conventionally financed properties simultaneously. Beyond that, portfolio loans and DSCR products can accommodate larger portfolios without the same restrictions. If you're building a multi-property portfolio, we'll help you structure your financing to maximize capacity.

Questions Investors Actually Ask.

Getting Started

Loan Types

Rates & Costs

Qualifications

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