Buying or refinancing comes with a lot of questions — here are clear, no-jargon answers to the ones I hear most. Don't see yours? Call or text me at 651-246-7672.
It depends on the loan. VA loans allow $0 down for eligible veterans and service members, USDA loans can also be $0 down in eligible areas, FHA loans start at 3.5% down, and conventional loans can go as low as 3% down. You do not need 20% down to buy a home — that's one of the most common myths.
Many programs work with a score around 620, and FHA can go lower in some cases. Higher scores generally earn lower interest rates. If your score isn't there yet, I'll give you a clear, no-pressure plan to improve it before you apply.
A bank offers only its own loans. As an independent mortgage broker, I shop dozens of wholesale lenders to find the program and rate that fit you best — often at lower cost than a single retail bank — and I manage the whole process for you.
Yes. Eligible veterans, active-duty service members, and qualifying spouses can finance up to 100% of the purchase price with $0 down and no monthly PMI, subject to VA eligibility and lender guidelines. See our VA loan page →
Most purchase loans close in about 30 days, and many refinances are faster. Getting pre-approved early and sending documents promptly is the best way to keep everything on schedule.
Nothing. Getting pre-approved is free with no obligation. It takes about ten minutes and shows sellers you're a serious, ready buyer.
Typically recent pay stubs (last 30 days), W-2s or tax returns for the last two years, recent bank and asset statements, and a photo ID. For VA loans, also your DD-214 or statement of service. Don't have everything? We'll sort it out together.
Absolutely. Self-employed borrowers qualify all the time — it usually just means documenting income with tax returns and bank statements, and there are loan options designed specifically for self-employed buyers.
It can be — if it lowers your rate or payment, shortens your term, consolidates higher-interest debt, or lets you tap equity for a goal. I'll run the numbers honestly and only recommend it if it genuinely benefits you. More on refinancing →
PMI is private mortgage insurance, usually required on conventional loans with less than 20% down; it drops off as you build equity. VA loans have no monthly mortgage insurance at all, and other strategies can reduce or avoid it — we'll look at what makes sense for you.
Mission Home Loans is licensed in Minnesota, Florida, and Wisconsin, with a local office in Isanti, MN. Everything can be handled online or by phone, so distance is never a barrier.
The easiest first step is a quick, free pre-approval online, or simply call or text 651-246-7672. We'll talk through your goals and map out your options — no pressure.
Reach out anytime — you'll always talk to a real person. Or get pre-approved online in about ten minutes.