{"id":727,"date":"2025-03-14T18:09:05","date_gmt":"2025-03-14T18:09:05","guid":{"rendered":"https:\/\/teamdeleonllc.com\/?page_id=727"},"modified":"2025-03-14T22:41:18","modified_gmt":"2025-03-14T22:41:18","slug":"faqs","status":"publish","type":"page","link":"https:\/\/teamdeleonllc.com\/index.php\/shortcodes\/faqs\/","title":{"rendered":"FAQS"},"content":{"rendered":"

[vc_row][vc_column width=”1\/6″][\/vc_column][vc_column css_animation=”fadeInUp” width=”2\/3″][vc_empty_space height=”80px”][vc_custom_heading text=”Frequently Asked Questions” font_container=”tag:h2|text_align:center” use_theme_fonts=”yes” css=””][vc_column_text css=””]We know that the mortgage process can raise a lot of questions. That\u2019s why we\u2019ve compiled a list of the most common questions we hear from homebuyers, along with clear answers to help you feel confident as you move forward. Whether you\u2019re a first-time buyer or looking to refinance, we\u2019re here to provide the information you need.[\/vc_column_text][vc_empty_space height=”40px”][vc_tta_accordion style=”modern” shape=”square” color=”white” active_section=”1″][vc_tta_section title=”What credit score do I need to qualify for a mortgage?” tab_id=”1462039446254-a71612d9-2b19″][vc_row_inner][vc_column_inner][vc_column_text css=””]Mortgage requirements vary by loan type, but generally, a credit score of 580 or higher will qualify you for FHA loans. Other loan types, such as conventional loans, typically require a higher score of 620 or more.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_tta_section][vc_tta_section title=”How much down payment do I need?” tab_id=”1462039446331-e7bbf359-6158″][vc_column_text css=””]The required down payment depends on the loan type. Conventional loans typically require 3-20%, while FHA loans start as low as 3.5%. VA and USDA loans may offer no down payment options.[\/vc_column_text][\/vc_tta_section][vc_tta_section title=”What\u2019s the difference between pre-qualification and pre-approval?” tab_id=”1463610695891-082b0cba-747b”][vc_column_text css=””]Pre-qualification gives you an estimate of how much you might qualify for based on basic financial information, while pre-approval involves a deeper review of your finances and is a stronger commitment from the lender.[\/vc_column_text][\/vc_tta_section][vc_tta_section title=”How long does the mortgage process take?” tab_id=”1741991508946-c0a81b73-6068″][vc_column_text css=””]The mortgage process typically takes 14-30 days from application to closing, depending on factors like loan type, documentation, and the complexity of the transaction.[\/vc_column_text][\/vc_tta_section][vc_tta_section title=”What are closing costs, and how much will they be?” tab_id=”1741991514106-2708cd84-e164″][vc_column_text css=””]Closing costs typically range from 2-5% of the loan amount and include fees for the loan, appraisal, title, and more. We\u2019ll give you a detailed breakdown during the process.[\/vc_column_text][\/vc_tta_section][vc_tta_section title=”Can I still get a mortgage with student loans or other debts?” tab_id=”1741991588970-08bc6e53-73ae”][vc_column_text css=””]Yes, as long as your debt-to-income (DTI) ratio meets the lender\u2019s guidelines. This ratio compares your monthly debt payments to your income and helps determine your mortgage eligibility.[\/vc_column_text][\/vc_tta_section][vc_tta_section title=”How do interest rates affect my mortgage?” tab_id=”1741991593882-839c8708-8392″][vc_column_text css=””]Your interest rate will determine how much you pay over the life of the loan. A lower rate reduces your monthly payment and total interest paid, while a higher rate increases both.[\/vc_column_text][\/vc_tta_section][vc_tta_section title=”What documents do I need for a mortgage application?” tab_id=”1741991592113-1897dda0-d1be”][vc_column_text css=””]You\u2019ll typically need recent pay stubs, tax returns, bank statements, and proof of any other income or assets. Exact documentation may vary based on your loan type.[\/vc_column_text][\/vc_tta_section][vc_tta_section title=”Is a fixed-rate or adjustable-rate mortgage better for me?” tab_id=”1741991670273-5b2a7f6e-e617″][vc_column_text css=””]A fixed-rate mortgage offers stability with consistent payments, while an adjustable-rate mortgage (ARM) starts with a lower rate that may adjust over time. We can help you decide based on your financial goals.[\/vc_column_text][\/vc_tta_section][vc_tta_section title=”Can I lock in my interest rate?” tab_id=”1741991673625-d35be619-8f5c”][vc_column_text css=””]Yes, you can lock in your interest rate during the mortgage process to protect yourself from rate increases while your loan is being processed.[\/vc_column_text][\/vc_tta_section][\/vc_tta_accordion][\/vc_column][vc_column width=”1\/6″][\/vc_column][\/vc_row][vc_row][vc_column]

<\/div>[\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

[vc_row][vc_column width=”1\/6″][\/vc_column][vc_column css_animation=”fadeInUp” width=”2\/3″][vc_empty_space height=”80px”][vc_custom_heading text=”Frequently Asked Questions” font_container=”tag:h2|text_align:center” use_theme_fonts=”yes” css=””][vc_column_text css=””]We know that the mortgage process can raise a lot of questions. That\u2019s why we\u2019ve compiled a list of the most common questions we hear from homebuyers, along with clear answers to help you feel confident as you move forward. Whether you\u2019re a first-time […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":584,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page.php","meta":{"footnotes":""},"class_list":["post-727","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/teamdeleonllc.com\/index.php\/wp-json\/wp\/v2\/pages\/727","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/teamdeleonllc.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/teamdeleonllc.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/teamdeleonllc.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/teamdeleonllc.com\/index.php\/wp-json\/wp\/v2\/comments?post=727"}],"version-history":[{"count":5,"href":"https:\/\/teamdeleonllc.com\/index.php\/wp-json\/wp\/v2\/pages\/727\/revisions"}],"predecessor-version":[{"id":746,"href":"https:\/\/teamdeleonllc.com\/index.php\/wp-json\/wp\/v2\/pages\/727\/revisions\/746"}],"up":[{"embeddable":true,"href":"https:\/\/teamdeleonllc.com\/index.php\/wp-json\/wp\/v2\/pages\/584"}],"wp:attachment":[{"href":"https:\/\/teamdeleonllc.com\/index.php\/wp-json\/wp\/v2\/media?parent=727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}