NMLS #891464 · Equal Housing Opportunity
NMLS #891464 · Equal Housing Opportunity
NMLS #891464 · Equal Housing Opportunity
Enoch has been in mortgages since 2001. Here's what he wishes every borrower knew before they started the process.
When sending bank statements, include all pages — even blank ones. Lenders need the complete document. A single missing page can cause delays in underwriting. Save everything as PDF when possible. Organized, complete documents move faster through the process.
| Score | Rating | Loan Options | Rate Impact |
|---|---|---|---|
| 740+ | Excellent | All programs — best available terms | Lowest rates available |
| 700–739 | Very Good | Conventional, FHA, VA, USDA | Very competitive |
| 660–699 | Good | Conventional, FHA, VA, USDA | Slightly higher |
| 620–659 | Fair | FHA, VA (minimums vary) | Noticeably higher |
| 580–619 | Below Average | FHA (3.5% down min), some VA | Higher rates, more conditions |
| Below 580 | Needs Work | Limited — let's build a plan first | Talk to Enoch before applying |
Pay all bills on time. Keep credit card balances below 30% of your limit (ideally under 10%). Don't close old accounts — length of history matters. Dispute any errors on your report. Mix of credit types can help.
Do NOT open new credit cards or take on new loans. Do NOT make large purchases on credit (furniture, cars, appliances). Do NOT close existing credit card accounts. Do NOT let anyone run your credit without talking to Enoch first — multiple inquiries can lower your score.
Order our hybrid soft pull credit report — it won't affect your score and gives you a clear picture of where you stand before committing to the full hard pull. Knowledge is power.
Most loan programs require 2 years of employment history in the same field. Job changes within the same industry are generally fine. Gaps need to be explained in writing. Talk to Enoch before making any career moves during the mortgage process.
Variable income is typically averaged over 2 years — and only counted if it's likely to continue. If commission is your primary income, write-offs on taxes can reduce your qualifying income. Strategy matters here.
DTI compares your monthly debt payments to your gross monthly income. Most conventional loans allow up to 45–50%. FHA can go higher in some cases. Use our affordability calculator to estimate yours. Paying down credit cards before applying is one of the fastest ways to improve your DTI.
Do NOT change jobs — especially from salary to commission — while your loan is in process. Even a promotion can require re-underwriting. If a change is unavoidable, tell Enoch immediately.
Social Security, disability, pension, rental income, child support/alimony (if received consistently), and part-time jobs held 2+ years can all count — as long as they're properly documented. Don't leave money on the table.
Any large deposit that isn't a payroll deposit needs to be explained and sourced with documentation. Cash deposits or large transfers without records cause underwriting delays. If possible, deposit money at least 60–90 days before applying so it's "seasoned."
Money that has been in your account for 60–90 days is considered seasoned — lenders generally don't question it. If you're receiving money from family, a bonus, or an asset sale, timing matters. Talk to Enoch early so deposits can be strategically timed.
Gift funds from family members are allowed on many programs — but require a signed gift letter stating the money is a gift (not a loan), plus the donor's name, relationship, amount, and source. The donor may need to provide bank statements. Plan this well in advance.
401k and IRA funds can be used for down payment and reserves. Lenders typically count 60–70% of vested retirement balances. Some programs allow penalty-free withdrawals for first-time homebuyers. Ask Enoch what applies to your situation.
Buying a car, furniture, or anything on credit before closing can change your DTI and credit profile. Underwriters run a final credit check before closing. Wait until after you have the keys.
Transferring funds, depositing cash, or moving investment money without documentation creates paper trail problems. Every dollar in your down payment needs to be traceable.
Co-signing adds that payment to your DTI — even if you never make the payment. Don't co-sign anything while in the mortgage process.
Employment is verified at the start and again just before closing. A job change — even a promotion — can cause your loan to be denied. Talk to Enoch before any career moves.
Child support, alimony, a second property, unpaid taxes, judgments, or liens — lenders will find these. Disclose everything upfront. Transparency always leads to better outcomes.
In some cases, paying an old collection can temporarily lower your score. Don't pay anything off without asking Enoch first — strategy matters here.
We discuss your goals, timeline, credit, income, and budget. No pressure — just a conversation about what's possible. Day 1.
We order your credit report and review your full picture. You'll know within hours whether you're ready to move or if there's work to do first. Day 1–2.
You submit your documents. We submit to underwriting. Pre-approval letter issued once verified — the one that carries real weight with sellers. 1–5 business days.
You shop with confidence knowing exactly what you're approved for. Your pre-approval letter goes with every offer. Varies.
Offer accepted. We lock your rate, order the appraisal, and shop your loan across 150+ lenders for the best terms. Days 1–7 after contract.
Underwriter reviews everything. Appraiser evaluates the property. Respond quickly to any conditions to keep things moving. 1–2 weeks.
"Clear to Close" means underwriting is satisfied. Your final Closing Disclosure arrives at least 3 business days before closing. Review it carefully. 1–3 days before closing.
Sign the final documents, funds are wired, title transfers — and you get your keys. From here, Enoch stays in your corner for every chapter ahead. Typical total: 21–45 days from contract to close.
The more you write off on your taxes, the lower your taxable income — and lenders qualify you based on taxable income, not actual deposits. This is where bank statement loans are a powerful alternative. We use 12–24 months of deposits instead of tax returns.
Most programs require 2 years in the same business. If you're in year one or two, there may still be a path depending on your prior employment history in the same field. Let's talk.
Personal tax returns (2 years, all schedules) · Business tax returns (2 years) · Year-to-date P&L (CPA-prepared) · Business bank statements (12–24 months for bank statement loans) · Business license or articles of incorporation · CPA letter verifying 2+ years self-employment
If you know you want to buy a home, talk to your CPA before filing your next return. Legal strategies to optimize how your income is reported can significantly impact your qualifying income. Once the return is filed, it's too late to change it for that year.
Certificate of Eligibility (COE) — we can often pull this for you directly · DD-214 (discharge papers for veterans) · Statement of Service (active duty) · Recent LES (Leave and Earnings Statement) · VA funding fee info (may be waived for disabled veterans)
Many veterans don't realize they can use their VA benefit more than once — or even have two VA loans simultaneously. If you've used your VA benefit before, you may still have remaining entitlement. Let's check your status early so there are no surprises.
Get pre-approved before or immediately after receiving orders. Housing markets near military installations move fast. We understand PCS urgency and will prioritize your file. VA loans can close in 21 days in the right circumstances.
VA loans have MPRs — the appraiser will flag peeling paint, roof issues, safety hazards, and structural problems. The seller must repair these before closing, or you negotiate repairs into the contract. Know this before making an offer on a fixer-upper with a VA loan.
You've done your homework. Now let's get you pre-approved. Enoch has guided borrowers through every situation since 2001.