FAQs

Conventional loans: as little as 3% for first-time buyers. FHA: 3.5%. VA and USDA: 0%. Jumbo: typically 10-20%. Less down = higher rate, PMI until 78% LTV, and bigger loan balance. Running the /calculators/payment tool side-by-side with 3% vs 20% shows the real tradeoff.

Conv: 620+ (better rates at 740+). FHA: 580 with 3.5% down (500-579 possible with 10% down). VA: 580+ typically. Non-QM programs go as low as 550 with compensating factors. Credit matters for rate — not just approval.

30-45 days is standard for conventional. VA and USDA can run 45-60. Cash offers close in as few as 7 days if title is clean. Alliance's 7-step process hits 30 days consistently when documents are responsive.

Budget 2-5% of the purchase price for a purchase, 2-3% for a refinance. Origination (0.5-1% of loan), title insurance (0.5-1%), appraisal ($500-800), processing + underwriting ($800-1,500), and prepaid escrow (first-year taxes + insurance + 2-3 months reserve). The /calculators/apr tool shows how fees fold into the all-in rate.

Rule of thumb: if the monthly savings recoup closing costs in under 36 months and you plan to stay longer than that, refi wins. The /calculators/break-even calculator does the exact math including whether to roll closing costs into the new loan.

Pre-qualified = you filled out a form and we trust your numbers. Soft, fast, not worth much in an offer. Pre-approved = we pulled credit, verified income and assets, and issued a conditional commitment letter. That's what you want when competing for a listing.

Yes — Non-QM programs qualify you on 12 or 24 months of bank statements, CPA-prepared P&L, or pure asset depletion. Rates are typically 1-2% higher than conventional but you get to buy. See /mortgage for the full Non-QM program list.

DSCR (debt-service coverage ratio) loans qualify on the property's rent, not your personal income. No W-2 or tax returns required. Typical DSCR threshold: 1.0-1.25x. Great for rental-portfolio builders.

Yes. Standard lock periods: 30, 45, 60, 90 days. Lock fee rolled into your rate. If rates drop before closing, most investors allow one float-down re-lock. If rates rise, you're protected.

Yes — that's the SYSTEMSs™ pitch, not marketing vapor. Same file, same dashboard, same team from offer through post-close. Insurance bound at close so you lock escrow pricing. See /about for the philosophy.