hey, i'm slavik

If you're going to live in it, plan on about 5% of the price as a safe starting number. That works for a single-family home or a duplex. Best case on a house hack is 3.5% down plus about 2% for closing costs, so 3.5% to 5.5% all in. If you won't live there, it's a different game: usually 15% to 25% down, depending on the property and program.

The application takes 5 to 10 minutes. Ballpark numbers are fine, we verify everything after. Once your documents are in (pay stubs, W-2s, bank statements), pre-approval can happen the same day, sometimes in a couple of hours.

Yes. That's house hacking. You live in one unit and get the low down payment of a home you live in, usually 3% to 5%. The rent from the other units counts as income, so it helps you qualify. Sometimes people who can't qualify for a house can qualify for a fourplex. One thing to know on FHA: with 3 or 4 units, 75% of the rents has to cover the full mortgage payment, and that test can make a triplex or fourplex harder to qualify for than a duplex. The rule is you have to actually live there for a year. That's the trade for the low down payment. After that, you can rent your unit out and move to the next one.

I pre-approve you for a price, not a program. The best loan depends on the property and your cash. FHA is 3.5% down, more open to lower credit scores, and often has the lowest monthly payment, even for people with great credit. Conventional is usually around 5% down, and its mortgage insurance comes off once you reach 20% equity. FHA mortgage insurance runs on its own schedule, and I'll show you exactly how it plays out for you. My question for you: what matters more right now, the lowest payment or the least cash out of pocket?

FHA is the program most open to lower scores. If your score is on the lower side, we have options, and I'll show you the path that works. Exact minimums depend on the loan program. A score in the 700s is usually good enough. Free credit apps aren't exact, but they're close enough to tell you if you're in range. Before you pay a card down to zero, we can run a credit simulation on your real report to see which payoff helps your score the most.

Yes, but lenders count what you showed the IRS, not what hits your bank account. The more you write off, the less you can buy. Plan on two years of tax returns for business, side gig, or Airbnb income, and anything seasonal needs a two-year history. For hourly, overtime, or shift pay, you sign a form so we can get the full breakdown straight from your employer and count every dollar we can. If you haven't filed your taxes yet, let me look before you file. Talk to your CPA too, this isn't tax advice.

The rate is only half the question. The other half is what that rate costs you. A low rate can mean you're paying points without knowing it. As a broker I don't have my own rates, I shop lenders for you. Send me your Loan Estimate and I'll tell you if you're in a good spot or if there's money left on the table. If you're happy where you are, I'll tell you to stay. Sometimes I'm just your cheerleader.

Budget about 2% of the price for closing costs. That's on the high side on purpose, so you're safe. A big chunk of it is escrow, your upfront share of insurance and property taxes. The down payment is a separate thing. The seller can cover costs with a seller credit. How much depends on your loan type and your down payment, and we'll tell you your exact cap. Always ask for seller credit, not "points," so you decide how to use it. Credit used to buy down your rate often does more for you than the same money taken off the price.