Answers

The questions people search at eleven at night.

Short, honest answers to the parts of a mortgage that frustrate people most. Written by me, reviewed on a schedule, and updated when the rules change.

Coming next

Self-employed income, investor loans, realtor questions, money habits, and Spanish versions of the most-read answers.

The process

Why does my lender keep asking for more documents?

Why did my pre-approval amount change?

What can delay a closing, and what can I do about it?

What should I not do between application and closing?

Why does the lender need a letter explaining a deposit?

How long does a mortgage take, start to finish?

Buying a home

Pre-qualification or pre-approval: what do sellers actually care about?

What does a mortgage broker cost, and who pays?

I got a no from my bank. What are my options?

What happens when the appraisal comes in low?

Investing

How does a DSCR loan work?

Can I get a loan for my first investment property with no experience?

How much cash do I really need to flip a house?

Can I buy an investment property in an LLC?

How do I pull equity out of one property to buy the next?

Self-employed

Can I get a mortgage without tax returns?

How does a bank statement loan calculate my income?

Are no-doc, no-income and no-ratio loans real?

I have been self-employed for less than two years. Can I still buy a home?

Are non-QM loans more expensive, and when are they worth it?

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