What does a mortgage loan originator do vs. a bank?

A bank offers only its own loan products. A mortgage loan originator shops your loan across 175+ wholesale lenders to find the best rate, terms, and program for your situation.

How do I get pre-approved?

Apply through one of our lender portals or contact me directly. I will pull your credit, verify income and assets, and issue a full pre-approval letter, typically within 24 hours.

How much do I need for a down payment?

Conventional loans start at 3% down, FHA at 3.5%, and VA loans require zero down payment.

When does it make sense to refinance?

Generally when you can lower your rate by 0.5% or more, shorten your term, or access equity. The key is whether monthly savings outweigh closing costs within your planned timeframe.

A DSCR loan qualifies based on the rental income of an investment property rather than your personal income. No tax returns or pay stubs required.

What is PMI and how do I get rid of it?

PMI is required on conventional loans with less than 20% down. It drops automatically at 78% LTV, or you can request removal at 80% LTV.

VA Loans

Zero down payment, no monthly mortgage insurance, and competitive rates — an earned benefit for veterans, active duty service members, and qualifying spouses.

VA Loans at a Glance

Program Highlights

✓ 0% down payment
✓ No monthly mortgage insurance
✓ Lowest average rates of any program
✓ No loan limit (full entitlement)
✓ Funding fee waived with 10%+ disability
✓ Reusable benefit — use it again and again

Who's Eligible

✓ Active duty (90+ days served)
✓ Veterans (discharged under conditions other than dishonorable)
✓ National Guard / Reserves (6+ years or 90 days active)
✓ Surviving spouses (unremarried)
✓ We can pull your COE — just ask

How VA Loans Work

VA loans are guaranteed by the Department of Veterans Affairs, eliminating the need for a down payment or mortgage insurance. There's a one-time funding fee (2.15% first use, 3.3% subsequent) that can be financed into the loan — and it's completely waived for veterans with a 10%+ service-connected disability. VA uses residual income rather than strict DTI ratios, making it more flexible for families. The rates are typically the lowest available because the government guarantee reduces lender risk. As a broker licensed in 28 states, I work with VA-approved lenders nationwide and can often close faster than the big banks.

The VA Process

Confirm Eligibility

I can pull your Certificate of Eligibility for you — just ask. It confirms your entitlement and any funding fee exemption.

Pre-Approval

Income and credit review. With full entitlement there is no loan limit and no down payment required.

VA Appraisal

A VA-assigned appraiser issues a Notice of Value confirming the price and minimum property requirements.

Close with $0 Down

No down payment, no monthly mortgage insurance — and the benefit is reusable for future purchases.

Who Is Eligible

Active Duty

Eligible after 90 or more continuous days of service.

Veterans

Discharged under conditions other than dishonorable.

National Guard & Reserves

Six or more years of service, or 90 days of active duty.

Surviving Spouses

Unremarried surviving spouses of service members may qualify for the full benefit.

Try the Payment Calculator VA IRRRL Calculator

Get a VA Loan Quote

Andrew Baker · NMLS 2688601 · (949) 665-9090

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