Frequently asked
Straight answers.
Nobody is going to make you feel foolish for asking. If your question isn't here, call 708-888-1518 and ask it.
Getting started
- How quickly can I get pre-approved?
- Often the same day, and sometimes within the hour. One client had an approval in about ten minutes; another needed a letter on a Sunday evening during a bidding war and got it. Speed depends on how quickly you can share income and asset documentation, which we'll list for you up front.
- What is the difference between pre-qualified and pre-approved?
- A pre-qualification is a quick read on what you're likely to be able to do, based on what you tell us. A pre-approval goes further: we verify income, assets and credit, and issue a letter an agent will take seriously. If you're actively shopping, you want the pre-approval.
- Does asking cost anything or affect my credit?
- No. An initial conversation about whether a path exists costs nothing and involves no credit pull. A full application does include a credit review, and we'll tell you before that happens.
- What credit score do I need?
- There isn't one number. Different programs tolerate very different credit profiles, and FHA is considerably more permissive than conventional. Rather than guess, send us your situation and we'll tell you where you actually stand and which programs are in play.
Your situation
- I'm self-employed and my tax return doesn't reflect what I really earn.
- That's one of the most common reasons a bank declines a perfectly good borrower. Bank statement programs qualify you on deposits rather than adjusted gross income, so your write-offs stop working against you — and for most of them tax returns aren't part of the file at all.
- Can I get a mortgage with an ITIN instead of a Social Security number?
- Yes. ITIN mortgage programs exist and we work them. Your tax identification number is the basis of the file, and a consistent filing history strengthens it. Most lenders won't take these; that's precisely why we do.
- Are DACA recipients eligible for a mortgage?
- Yes. Agency guidance supports lending to DACA recipients who hold valid work authorisation and meet the standard credit and income requirements. Borrowers are usually declined because a lender's internal overlays or a loan officer's knowledge stopped short of the actual guidance — not because the rules forbid it.
- How long after a bankruptcy or foreclosure can I buy?
- Usually sooner than you've been told. Waiting periods vary by chapter, by discharge date and by program, and several are considerably shorter than the figure people quote from memory. Non-QM options can move earlier still. Send us the discharge date and we'll tell you where you stand.
- Do you offer financing that complies with Islamic finance principles?
- Yes. We arrange Sharia-compliant home financing structured through partnership and cost-plus arrangements rather than interest-bearing debt. Very few brokers will even discuss it, which is why a lot of observant families rent far longer than they need to.
How we work
- Is a mortgage broker different from a bank?
- Materially. A bank can only offer you what it holds. As a brokerage operating as a net branch of NEXA Mortgage, LLC, we place your file across an entire lender network — so when one lender's automated underwriting says no, there is usually somewhere else to go, and someone here who knows where.
- Which states can you lend in?
- We are licensed in 27 states, which is unusual for a brokerage of our size — most local brokers can only serve one. The full list is in the footer of every page, and we'll confirm your state on the first call.
- Do you publish your rates?
- No, and neither should anyone else without the full federal disclosures that legally accompany an advertised rate. Pricing depends on your credit profile, the property, the program and the day. We'll show you real numbers in writing once we know enough to give you accurate ones.
- What will consolidating my debt actually cost me?
- Possibly more overall, and we'd rather say so plainly. Moving a short-term balance onto a mortgage stretches it over a longer horizon, which can increase the total interest you pay even when your monthly outflow drops — and it secures that debt against your home. We walk through that trade-off before anything is signed.
Looking for program specifics? Every loan program page carries its own requirements and FAQ.
Still not sure?
Ask us the awkward question.
The one you'd rather not put in writing is usually the one worth asking. We've heard it before and it's rarely the obstacle people expect.
Or call 708-888-1518 — Mon–Fri, 9am–9pm CT.