Common questions
Frequently Asked Questions
Straight answers to what first-time buyers ask me most.
How much do I need for a down payment on my first home?
It depends on the program, the price, and your finances. There is no single number, and several programs are built to reduce what you need up front, including down payment assistance for eligible first-time buyers in Michigan. Anyone who quotes you a percentage without seeing your file is guessing. Reach out and I will walk you through what applies to you.
What credit score do I need to buy a home?
Requirements vary by program and lender, and some programs are far more flexible on credit than others. If your credit needs work, I can point you toward concrete steps and a realistic timeline. Starting 6 months before you want to buy gives you room to act on them.
What is pre-approval and why do I need it?
Pre-approval is a formal review of your income, assets, and credit that results in a letter stating what a lender is willing to lend you. In Oakland and Macomb counties, sellers routinely pass on offers without one. You also surface problems early, while there is still time to fix them.
How long does it take to get pre-approved?
Often within a day or two once you have provided your documents. The online application takes about 15 minutes, and I will follow up with exactly what is needed next.
What documents will I need?
Typically recent pay stubs, W-2s or tax returns, bank statements, and a valid ID. Self-employed buyers may use alternatives such as bank statement programs that document income differently.
Does applying hurt my credit?
A mortgage pre-approval involves a credit check. Credit scoring models are designed so that multiple mortgage inquiries within a short shopping window are typically treated as a single event for scoring purposes.
Why does the same price cost more in one Michigan township than another?
Property taxes. Rates vary meaningfully between townships and cities across Oakland, Macomb, and Wayne counties, and taxes are part of your monthly payment. 2 homes at the same price can carry noticeably different payments. I factor the actual rate for the property into your numbers.
How is working with a mortgage broker different from going to a bank?
A bank can only offer you its own loan products. Edge Home Finance, LLC is a mortgage broker, so I can work with many wholesale lenders and shop your scenario across them. You get one point of contact: me. I handle the comparison and the paperwork.
Should I wait another year and keep renting?
Sometimes that is the right call, and I will tell you when it is. It depends on how long you would stay, what you would pay, and whether your credit or savings need time. Run the rent vs. buy calculator, then let us talk through what it shows.
What states are you licensed in?
Michigan, California, and North Carolina. I can only originate loans for properties in states where I am licensed.
How do I get started?
Use the apply link for the secure online application, book a call, or send a message on the Contact page. There is no cost or obligation to talk through your options.