Straight answers, before you borrow.

It depends on the loan program. VA loans may require no down payment for eligible buyers, FHA loans start at 3.5% down, and conventional loans can start at 3% down for eligible first-time buyers. Putting 20% down on a conventional loan avoids private mortgage insurance, but it isn’t required to buy a home.

Minimums vary by program. FHA loans generally allow lower scores than conventional loans, and a higher score usually means a better rate. You don’t need perfect credit to buy a home. If your score needs work, I can help you build a plan.

A pre-qualification is a quick estimate based on information you share. A pre-approval verifies your credit, income, and assets, and gives sellers much more confidence in your offer.

Many purchase loans close in about 30 days, though timelines vary with the loan type, appraisal, and how quickly documents come in. I’ll give you a realistic timeline up front and keep you updated throughout.

Closing costs include lender fees, the appraisal, title insurance, and prepaid items like taxes and insurance. They’re commonly a few percent of the loan amount. You’ll receive a Loan Estimate that breaks them down, and in some cases seller credits can help cover them.

A fixed-rate loan keeps your rate and payment the same for the life of the loan. An ARM starts with a lower fixed rate for a set number of years, then adjusts. If you plan to stay long-term, fixed is often the safer choice; if you expect to move or refinance, an ARM may save money.

Compare the Loan Estimates side by side: interest rate, APR, lender fees, and points. Make sure each quote is for the same loan type, term, and lock period so you’re comparing apples to apples.

Refinancing may make sense if you can lower your rate or payment, shorten your term, remove mortgage insurance, or access equity, and you plan to stay in the home long enough to recover the closing costs. I’m happy to run the break-even numbers for you.

Free credit apps often show a different scoring model than the ones mortgage lenders use. Mortgage lenders typically pull scores from all three bureaus using mortgage-specific models, so the numbers can differ.

I’m personally licensed in Colorado and Ohio (NMLS #2408286). DNVR Lending is licensed in Alabama, California, Colorado, Florida, Georgia, Michigan, Montana, Nebraska, Ohio, South Carolina, Texas, and Wyoming (NMLS #2403751). If you’re buying or refinancing in one of those states outside Colorado or Ohio, reach out anyway. I’ll connect you with a licensed member of our team and stay in the loop. You can verify licensing anytime at NMLS Consumer Access.