1. How much do I need for a down payment?

The amount depends on the loan program you qualify for. Many buyers are surprised to learn that they don't need 20% down. Some conventional loans allow as little as 3% down, FHA loans require as little as 3.5%, and certain VA and USDA loans may require no down payment for eligible borrowers.

2. What credit score do I need to buy a home?

While requirements vary by loan program and lender, many borrowers can qualify with credit scores starting around 580 for FHA loans or 620 for many conventional loans. Even if your score is lower, we can review your situation and discuss options to improve your eligibility.

3. How long does the mortgage process take?

Most home loans close within 21 to 30 days, depending on the loan type and documentation. Some refinance programs, such as FHA Streamline Refinancing, may close even faster.

4. What documents will I need?

Although requirements vary, most borrowers should be prepared to provide:

• Government-issued ID

• Recent pay stubs

• W-2s or tax returns

• Bank statements

• Employment information

• Additional documents depending on your loan program

Our team will provide you with a personalized checklist.

5. How much home can I afford?

Your purchasing power depends on factors such as your income, monthly debts, credit profile, down payment, and current interest rates. We can help you determine a comfortable price range before you begin shopping for a home.

6. Can I refinance my current mortgage?

Yes. Refinancing may allow you to lower your interest rate, reduce your monthly payment, shorten your loan term, or access your home's equity. We can review your current loan and determine whether refinancing makes financial sense for your situation.

7. What is an FHA Streamline Refinance?

An FHA Streamline Refinance is designed for homeowners with an existing FHA loan. Depending on eligibility, it may offer benefits such as:

• No appraisal required

• Limited documentation

• Faster processing

• Opportunity to lower your interest rate or monthly payment

Eligibility requirements apply.

8. Can I qualify if I'm self-employed?

Absolutely. Self-employed borrowers can qualify using various documentation methods depending on the loan program. We work with business owners, independent contractors, and freelancers to identify financing solutions that fit their income structure.

9. Are there programs for first-time homebuyers?

Yes. Many first-time buyers may qualify for down payment assistance, grants, and affordable financing programs. We will help determine which programs are available based on your location and financial profile.

10. Why should I work with Mike Capital Solutions Corp?

Our commitment is to make the mortgage process simple, transparent, and personalized. We offer:

• Personalized loan guidance

• Fast communication

• Multiple loan options

• Competitive financing solutions

• Dedicated support from application through closing

Our goal is to help you make informed decisions and achieve your homeownership goals with confidence.