FREQUENTLY ASKED QUESTIONS

How do I get pre-approved?

Getting pre-approved is one of the best first steps in the homebuying process. We review your income, assets, credit, and overall financial profile to determine the loan options you may qualify for. Look for the Apply button on our website and click it to get started with a secure online application.

HOW MUCH HOME CAN I AFFORD?

The amount you can afford depends on your income, monthly debts, available funds, credit profile, and current interest rates. We also consider property taxes, homeowners insurance, and HOA fees when calculating a realistic monthly payment. Our goal is to help you choose a payment that fits your lifestyle comfortably.

HOW DO I KNOW IF I’M READY TO BUY A HOME?

Many buyers think they need perfect credit or a large down payment before starting, but that is not always true. If you have stable income, some savings, and the desire to own a home, you may be closer than you think. A consultation or pre-approval review can help you understand your next best steps.

CAN I USE GIFT FUNDS OR DOWNPAYMENT ASSISTANCE?

Yes, many loan programs allow eligible gift funds from family members or approved donors. There are also city, county, state, and nonprofit down payment assistance programs that may help with your upfront costs. We can review available options in Florida and Georgia based on your qualifications.

WHAT CREDIT SCORE DO I NEED TO BUY A HOME?

Credit score requirements vary depending on the loan program, down payment amount, and overall loan scenario. Some programs are more flexible than others, especially when there are strong compensating factors. Even if your score needs improvement, we may be able to help you build a plan to prepare.

HOW LONG DOES THE MORTGAGE PROCESS TAKE?

The timeline depends on the loan type, property, appraisal, title work, and how quickly documents are provided. Many purchases close within a few weeks, while others may take longer depending on the transaction. We work to keep the process moving and keep you updated along the way.

WHAT DOCUMENTS WILL I NEED?

Most borrowers are asked for identification, recent pay stubs, W-2s or tax returns, bank statements, and employment information. Self-employed borrowers may need additional business and tax documentation. Providing requested documents quickly can help speed up the approval process.

DO I NEED 20% DOWN TO BUY A HOME?

No, many buyers purchase homes with less than 20% down depending on the loan program. There are conventional, FHA, VA, USDA, and assistance programs that may require significantly less upfront funds. We can help you compare options based on your goals.

CAN SELF-EMPLOYED BORROWERS QUALIFY FOR A MORTGAGE?

Yes, self-employed borrowers can absolutely qualify for mortgage financing. Income is typically reviewed using tax returns, bank statements, or other acceptable documentation depending on the program. We help self-employed clients understand the best options available.

SHOULD I BUY NOW OR WAIT?

That decision depends on your finances, housing goals, market conditions, and personal timeline. Waiting can sometimes help, but rising prices or rates may also change affordability. We can help you review both scenarios so you can make an informed decision.

WHY CHOOSE TOTAL MORTGAGE LENDING?

We focus on clear communication, personalized service, and helping borrowers understand their options. Whether you are buying your first home, moving up, refinancing, or exploring assistance programs, we guide you through each step. We proudly serve homebuyers throughout Florida and Georgia.