BestDealFirst.Com | FAQ

Our Most Frequently Asked Questions

    Buying a home or refinancing comes with a lot of questions — and you deserve straight answers. From down payments and credit scores to closing costs and pre-approval, these are the questions I hear most from buyers and homeowners across California, Texas, and beyond. If you don't see your question here, just ask — I'm happy to help.

Straight answers to the questions I hear every day.

What mortgage loan options do you offer?

I help borrowers with conventional loans, FHA and VA loans, jumbo and high-balance financing, home equity loans and HELOCs, cash-out refinancing, debt consolidation, and non-QM options like DSCR and P&L loans. Every recommendation is matched to your goals and financial picture.

Which states do you serve?

We are licensed to help borrowers in Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Louisiana, Maryland, New Jersey, Pennsylvania, South Carolina, Texas, Virginia, Washington, and Wisconsin.

What credit score do I need to buy a home?

Requirements vary by loan type. FHA loans can work with a 580 score and 3.5% down, while conventional loans typically want a 620 or higher. The best move is to get a quick credit review — your score might qualify you for more options than you think.

How much do I need for a down payment?

It depends on the loan program. You can buy with as little as 3% down on a conventional loan or 3.5% on FHA, and qualified veterans can use a VA loan with $0 down. Some programs also offer down payment assistance.

Should I buy or refinance right now?

That depends on your rate, your equity, and your goals. If you're buying, today's rate environment and programs like rate buydowns can make ownership more affordable than it looks. If you own, a refinance or recast could lower your payment — it's worth a no-pressure conversation to compare the numbers.

How long does the mortgage process take?

A typical purchase closes in 30–45 days. Refinances can be faster. I keep you updated at every step so there are no surprises at closing.

What's the difference between pre-qualification and pre-approval?

Pre-qualification is a quick estimate based on what you tell me. Pre-approval is a thorough review of your finances — income, assets, credit — and gives you a letter sellers take seriously. If you're ready to make offers, get pre-approved first.

Do I have to pay mortgage insurance?

Not always. Conventional loans with less than 20% down typically carry PMI, but it drops off once you reach 20% equity. FHA loans have a mortgage insurance premium for the life of the loan in most cases. I'll show you the exact impact on your payment before you commit.

What are closing costs?

Closing costs are the lender and third-party fees to finalize your loan — typically 2–5% of the purchase price. They cover things like appraisal, title insurance, and origination fees. I give you a clear estimate up front so you're never blindsided.

Can I use gift money for my down payment?

Yes — most programs allow gift funds from family for part or all of your down payment. There are rules around documentation, so let me walk you through what's needed.

Still have questions? I'm here to help.
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