The minimum down payment varies by loan type. For example, conventional loans may require as little as 3% down, while FHA loans require a minimum of 3.5%. VA and USDA loans may offer options with no down payment for eligible borrowers.

Interest rates are influenced by factors such as your credit score, loan type, loan term, and current market conditions. A higher credit score and a larger down payment can often secure a more favorable rate.

Closing costs include fees for the loan origination, appraisal, title search, and other related services. They typically range from 2% to 5% of the loan amount. We'll provide a detailed estimate during the application process.

Yes, you can lock in your interest rate to protect against market fluctuations. Rate locks are typically available for a specified period, such as 30, 45, or 60 days. It's advisable to lock your rate after your offer is accepted or when refinancing.

PMI is insurance that protects the lender if you default on your loan. It's typically required for conventional loans with a down payment of less than 20%. Once you build sufficient equity in your home, you can request to have PMI removed.

The timeline can vary, but with our streamlined online process, we aim to provide a commitment letter within 24 hours of rate lock for qualified applicants. Overall, closing a mortgage can take anywhere from 30 to 45 days, depending on various factors.