Frequently asked questions

It varies by program — FHA can work with lower scores, conventional generally wants a bit more, and stronger credit earns better terms. Even if your credit isn't perfect there are options, plus a free credit-strategy review to help you improve before you apply.

Often less than people think. FHA starts at 3.5% down, many conventional loans at 3–5%, and VA and certain programs as low as 0%. First-time buyers may also qualify for down-payment-assistance programs like CalHFA.

Absolutely. First-time buyers can use low-down FHA loans, 3%-down conventional options like HomeReady and Home Possible, plus assistance programs such as CalHFA. California's Dream For All program opens in limited application windows each year — recent rounds have filled quickly, so preparing early matters. Eligibility depends on your income and area — Bola can check which programs fit you and help you get ready.

Yes — most programs allow gift money from family toward your down payment or closing costs. You'll just need a short gift letter and a simple paper trail showing where the funds came from. Bola can confirm the exact rules for your loan type before anything is transferred.

Often, yes. Most programs have waiting periods — commonly around 2–4 years depending on the program and the event — and some non-QM options can work even sooner. What matters most is re-established credit and stable income. Bola can review your timeline and map the fastest realistic path back to homeownership.

Often, yes. Many programs allow a co-borrower — and some allow a non-occupant co-signer, such as a parent — whose income can help you qualify for more. Keep in mind their credit and debts count too, and they share responsibility for the loan. Bola can run your scenario both ways so you know exactly what a co-signer changes — get started at zeecapital.ai/get-pre-approved.

FHA loans are government-backed with flexible credit and down payments as low as 3.5% — a great fit if your credit or savings are still building. Conventional loans typically want slightly stronger credit but can drop mortgage insurance at 20% down and often cost less over time. Bola can compare both side by side for your situation.

Yes. VA loans help eligible veterans, active-duty service members, and some surviving spouses buy with often 0% down, no monthly mortgage insurance, and competitive terms. If you may qualify, Bola can help you use your benefit.

A jumbo loan finances amounts above the conforming limit — used for higher-value homes. They usually require stronger credit and reserves. With access to 150+ lenders, Bola can find competitive jumbo options.

It comes down to your income, monthly debts, down payment, and rate. The “How much can I afford” calculator gives an instant estimate, and a quick pre-approval from Bola confirms your real buying power.

Bola Mories is licensed in California, Florida, Texas, and Tennessee, with wholesale access to 150+ lenders to find the right fit wherever you're buying in those states.

Sometimes — FHA, VA, and USDA loans can be assumable, meaning a qualified buyer takes over the seller's existing loan and its terms. You still qualify through the loan's servicer, you'll need to cover the gap between the price and the loan balance (cash or a second loan), and the process usually takes longer than a standard closing. Bola can help you weigh an assumption against a fresh loan side by side.

Yes — renovation loans like the FHA 203(k) and Fannie Mae HomeStyle roll the purchase price and remodel budget into a single mortgage with one closing and one payment. With move-in-ready homes drawing the most competition, a fixer-upper can be a smart way in: FHA 203(k) starts at 3.5% down, and HomeStyle offers a conventional route that can even work for investment properties. Bola can map out which one fits your project — book a call to talk it through.

Working with Bola doesn't add a layer of cost — broker compensation is built into the loan and fully disclosed on your Loan Estimate. Because 150+ wholesale lenders compete for your loan, a broker can often surface more competitive options than a single bank's menu. Questions, scenario comparisons, and pre-approvals are always free — start at zeecapital.ai/get-pre-approved.

A rate lock freezes your quoted rate for a set window (often 30–45 days) while your loan is processed, so market moves don't change your deal. Some programs also offer a "float-down" if the market improves before closing. Bola will help you time your lock once you're pre-approved.

Your rate depends on your credit, loan type, down payment, and current market conditions, so there's no one-size-fits-all number — and we don't quote rates online. Bola shops 150+ lenders to find competitive options for your specific profile.

A fixed-rate loan keeps the same principal-and-interest payment for the entire term — the simplest, most predictable choice if you plan to stay long-term. An ARM starts with an introductory rate for a set period (like 5 or 7 years), then adjusts with the market — sometimes a fit if you expect to move or refinance before it adjusts. Bola can compare both against your timeline.

No one can reliably predict where rates will go — and waiting can mean more competition or higher prices later. Many buyers focus on whether the payment works for their budget today; if the market improves down the road, refinancing may be an option. A quick pre-approval at zeecapital.ai/get-pre-approved shows exactly what your payment would look like right now.

The interest rate is what you pay to borrow the money; the APR (annual percentage rate) includes that rate plus most lender fees and certain costs — so it's the better number for comparing two loan offers apples-to-apples. A loan with a lower rate but higher fees can actually have a higher APR. When Bola shops 150+ lenders for you, you'll see both numbers side by side.

A temporary buydown lowers your payment in the first years of the loan: with a 2-1 buydown, your rate is 2% below the note rate in year one and 1% below in year two, then returns to the full note rate from year three on. It's often funded by the seller or builder as a negotiated credit — one of the most popular affordability tools right now. Bola can show exactly what a buydown would do to your payment — book a call to run the numbers.

Closing costs typically run a few percent of the loan and include lender fees, title, escrow, taxes, and prepaids. In some cases they can be offset with lender or seller credits. The Closing Cost tool gives you an estimate.

It's quick and free — often done within about a day. Tap “Get Pre-Approved” or “Apply Now,” or book a short call, and Bola will guide you through it and tell you exactly what you can borrow so you can shop with confidence. Start anytime at zeecapital.ai/get-pre-approved.

Most purchase loans close in about 2–4 weeks once you're in contract, and refinances often run on a similar timeline. Getting pre-approved before you shop is the best way to keep things fast — your file is already reviewed by the time your offer is accepted.

Typically recent pay stubs, W-2s or tax returns, bank statements, and ID. Self-employed borrowers can often use bank statements instead of tax returns, and DSCR investors may only need the property's rent numbers. Bola sends a simple checklist when you start your pre-approval.

A pre-qualification is a quick estimate based on what you tell the lender. A pre-approval goes further — your credit, income, and documents are actually reviewed, so sellers and agents take your offer seriously. In a competitive market, a real pre-approval is the one that wins. Start yours at zeecapital.ai/get-pre-approved.

Yes — seller credits (also called concessions) are very common in today's market: a large share of deals now close with the seller contributing toward the buyer's closing costs or a temporary rate buydown. Each loan program caps how much the seller can contribute, so the credit has to be structured correctly in your offer. Bola can tell you your program's limit before you negotiate — start at zeecapital.ai/get-pre-approved.

Yes. Bank statement loans let self-employed and 1099 borrowers qualify using 12–24 months of bank deposits instead of tax returns — which often means qualifying for more. Try the Bank Statement calculator to estimate your income.

Yes — ITIN loan programs let borrowers qualify using an Individual Taxpayer Identification Number instead of a Social Security number. Expect a somewhat larger down payment and standard proof of income and credit history. With access to 150+ lenders, Bola can match you with ITIN-friendly options — book a call to see what fits.

Often, yes. Lenders generally like to see a two-year work history, but changing jobs within the same field usually isn't a problem — and some programs even allow you to qualify with a signed offer letter before your first paycheck. Employment gaps can typically be explained with a short letter. Bola can review your situation and match you to the right program — start at zeecapital.ai/get-pre-approved.

A DSCR (Debt Service Coverage Ratio) loan qualifies you on the property's rental income instead of your personal income — ideal for investors. Lenders compare rent to the mortgage payment; many look for a ratio around 1.0 or higher. You can model it in the Investment Analyzer.

Yes — through DSCR, bank statement, conventional, and commercial options. The Investment Analyzer lets you model cash flow, cap rate, cash-on-cash, DSCR, BRRRR, and more before you buy.

These are short-term, asset-based loans for investors — funded quickly and based mostly on the deal itself rather than your income. Great for renovations and quick purchases; Bola can structure one for your project.

Yes — second-home financing works much like a primary residence, typically with around 10%+ down and slightly different pricing. If you plan to rent it out most of the year, it may count as an investment property instead, which changes the loan options. Bola can structure it correctly from day one so there are no surprises — book a call to talk it through.

Yes — a HELOC or fixed home equity loan sits behind your current mortgage as a second lien, so your existing rate stays untouched. It's one of the most popular moves right now for homeowners who locked in low rates and want funds for renovations, debt consolidation, or investing. Whether a second lien or a cash-out refinance is cheaper depends on your current rate and how much you need — Bola can run both side by side. Book a call to compare your options.

Refinancing can lower your payment, shorten your term, or let you tap equity with a cash-out. Whether it makes sense depends on your current rate, balance, and how long you'll stay — if you bought when rates were higher, it's worth a quick check. The Refinance calculator shows your break-even in seconds.

Mortgage insurance protects the lender when your down payment is under 20%. Conventional loans use PMI (which can fall off later as you build equity); FHA loans use MIP. Putting 20% down or choosing the right program can reduce or avoid it.

Usually, yes — most standard home loans today have no prepayment penalty, so extra principal payments are allowed anytime and can shorten your loan and cut total interest. Some investor programs (like certain DSCR loans) do carry prepayment penalties in the early years, so it's worth confirming before you sign. You can also ask about a recast — applying a lump sum to lower your monthly payment without refinancing. Bola can show you which approach saves the most for your situation.