FAQ

Frequently Asked Questions

Down Payment

• How much down payment do I need?
  Depends on the program. Some allow 3%–3.5% down. Eligible VA may allow 0% down.

• Can I use gift funds?
  Yes, many programs allow gifts (rules vary).

Pre-Approval

• How fast can I get pre-approved?
  Often 24–48 hours after we receive your documents.

Refinance

• When does refinancing make sense?
  To lower payment/rate, shorten term, switch ARM→fixed, remove PMI, or access equity.

• Can I refinance with imperfect credit?
  Often yes, depending on equity and income stability.

Cash-Out Refinance

• What is cash-out refinance?
  A new loan replaces your current one and you receive cash from equity (minus costs).

VA Loans

• Who qualifies?
  Eligible veterans, active duty, Guard/Reserves, and some surviving spouses.

• Is there monthly mortgage insurance?
  No PMI on VA loans (funding fee may apply in some cases).

FHA Loans

• What credit score is needed?
  FHA can be more flexible than conventional; requirements vary by profile.

Jumbo Loans

• What is a jumbo loan?
  A loan above conforming limits, common in high-cost CA areas.

Timing

• How long does closing take?
  Many loans close in 21–30 days, depending on conditions.

Service Area

• Do you only work in Tracy?
  No — we serve all of California (Tracy, Fremont, Stockton, Mountain House, San Jose, Bay Area, and more).