What is MortgageFast?

MortgageFast helps borrowers find loan officer profiles and reviews, get useful mortgage answers, and follow application handoffs across 67 pages.

What do I need to get started with a mortgage?

You don’t need to have everything figured out before talking to us. A MortgageFast expert can start by learning about your goals, finances, and the type of property you’re considering. From there, we can help you understand your options and what information or documentation may be needed.

When should I talk to a mortgage lender?

Earlier than you might think. You don’t need to have a property picked out before starting the conversation. Getting an idea of your financing options early can help you understand your budget and shop with more confidence.

Do I need to know which type of mortgage I want?

No. That’s our job. Tell us what you’re trying to accomplish and we’ll help you explore financing options that may fit your situation.

Can I start before I find a home?

Absolutely. In many cases, that’s the better way to do it. Getting your financing organized before finding a property can make the process easier once you’re ready to make an offer.

What is pre-qualification on MortgageFast?

Pre-qualification is a preliminary review of the mortgage scenario and financial picture you provide. You submit a scenario from your dashboard, a licensed MortgageFast loan officer reviews it, and you’re told whether it looks like a fit or what else is needed. It helps you understand your potential purchasing power before a formal application.

How long does pre-qualification take?

Timing depends on the complexity of your scenario and how quickly any follow-up information is provided. You can track the status of each scenario in your dashboard and message your loan officer directly.

Is pre-qualification a loan approval?

No. Pre-qualification is not a loan approval, a pre-approval, or a commitment to lend. Final approval depends on a formal application, underwriting, the property, supporting documentation, and other applicable loan requirements.

Does pre-qualification apply to every scenario I build?

No. Pre-qualification is specific to the scenario you submit. If you change a scenario in a material way after submitting it, your loan officer’s review may need to be updated. Other scenarios are not covered automatically.

Does pre-qualification affect my credit?

Using MortgageFast, exploring scenarios, and completing pre-qualification does not by itself result in a credit inquiry. If a credit report is needed later, it is obtained only with your authorization.

What happens after I’m pre-qualified?

Your loan officer can walk you through next steps and, when you’re ready, send you a link to the secure formal application. A formal application requires additional information, disclosures, and documentation.

What can I do in my MortgageFast dashboard?

Your dashboard lets you build and save mortgage scenarios, run payment and buying-power numbers, save loan programs, track your financial profile, follow your roadmap to home, read market news and learn mortgage terms, and message your MortgageFast expert.

A scenario is a saved picture of a possible purchase or refinance, including the price or value, down payment, loan term, and estimated costs. You can create several, compare them, and choose one as your primary deal. Numbers shown are estimates, not a quote.

Flash is MortgageFast’s AI assistant for mortgage questions. It gives educational, general answers and can help you think through your scenario. Flash does not make credit decisions, approve or deny loans, or issue commitments to lend, and its answers may be incomplete. Please don’t enter Social Security numbers, account numbers, or passwords.

Can I refinance or open a HELOC through MortgageFast?

Yes. When you build a scenario you can choose refinance goals such as a lower rate or payment, cash out, shortening your term, removing mortgage insurance, or opening a HELOC. Availability and eligibility vary by borrower and property.

How do I talk to a mortgage expert?

You can browse licensed MortgageFast experts by state, view their profiles, and message them from your dashboard. Requests are routed based on the property location and the loan officer’s licensing coverage.

Where do the market rates on MortgageFast come from?

Rates shown on the site are a national market index with a source and last-updated time. They are not a MortgageFast quote, and your actual rate depends on your loan scenario.

Can I delete my account?

Yes. You can delete your account from the Profile page in your dashboard. Some records related to mortgage lending may need to be retained as required by law.

Do I need 20% down to buy a home?

Not necessarily. Depending on the loan program and your qualifications, financing may be available with significantly less than 20% down.

What is the minimum down payment?

There isn’t one universal minimum. Down payment requirements vary based on the loan program, property, occupancy, credit profile, and other factors. Some qualified borrowers may have access to low down payment options.

Can I use gift funds for my down payment?

Gift funds may be permitted with certain mortgage programs when they meet the applicable guidelines and documentation requirements. Your MortgageFast expert can tell you what is allowed for your specific loan.

Can I buy a home with no down payment?

Certain loan programs may offer 100% financing to eligible borrowers. Availability depends on the program and borrower qualifications.

What credit score do I need to get a mortgage?

There is no single credit score required for every mortgage. Different programs have different requirements, and your credit score is only one part of the overall qualification.

Can I get a mortgage if my credit isn’t perfect?

Potentially. A less than perfect credit history doesn’t automatically mean homeownership is off the table. We can review your situation and help determine what financing options may be available.

What income can be used to qualify for a mortgage?

Depending on the program, qualifying income can include salary, hourly wages, bonuses, commissions, self employment income, retirement income, Social Security, rental income, and other eligible sources.

I’m self employed. Can I still qualify?

Yes. Self employed borrowers have a variety of potential financing options. Depending on the program, qualification may use traditional tax returns or alternative documentation such as bank statements or other eligible income documentation.

What if I have significant assets but limited traditional income?

Some mortgage programs are designed for borrowers with substantial assets who may not fit traditional income qualification. Ask us about available asset based qualification options.

How are mortgage rates determined?

Mortgage rates are influenced by financial markets as well as factors specific to your loan, including the loan program, credit profile, property type, occupancy, down payment, loan amount, and other characteristics.

Why is the rate I see online different from the rate I’m offered?

Advertised rates are usually based on a specific example and set of assumptions. Your actual rate and pricing depend on your individual loan scenario.

What does it mean to lock my rate?

A rate lock generally protects an agreed upon interest rate and pricing for a specific period while your loan moves toward closing, subject to the terms and conditions of the lock.

Should I choose the lowest mortgage rate?

Not always. A lower rate can sometimes come with higher upfront costs. The better comparison is often the combination of rate, fees, monthly payment, and how long you expect to own or finance the property.

What types of mortgages does MortgageFast offer?

Available financing may include conventional, FHA, VA, jumbo, DSCR and investment property, bank statement, asset qualifier, foreign national, condo, renovation, bridge, HELOC, and other specialized mortgage solutions. Availability and eligibility vary by borrower and property.

What’s the difference between a fixed rate and adjustable rate mortgage?

A fixed rate mortgage keeps the same interest rate for the applicable loan term. An adjustable rate mortgage typically has an initial fixed period followed by a rate that can adjust according to the terms of the loan.

What is a jumbo loan?

A jumbo mortgage is generally a loan that exceeds applicable conforming loan limits. These loans are commonly used for higher priced properties and may have different qualification requirements.

Can MortgageFast finance investment properties?

Potentially. Financing options are available for many types of real estate investors and investment properties. The right structure depends on the property, borrower, investment strategy, and loan program.

Do you work with borrowers who don’t fit traditional mortgage guidelines?

Yes. Every borrower’s finances look different. In addition to traditional mortgages, we can explore specialized programs designed around different income, asset, property, and investment profiles.

How long does it take to get a mortgage?

Every transaction is different. Timing depends on factors such as documentation, underwriting, the property, appraisal, title work, insurance, and the loan program. Our job is to keep each step moving and communicate clearly along the way.

What documents will I need?

Common documents can include identification, income documentation, bank or asset statements, employment information, and information about the property. The exact documentation depends on your financial profile and loan program.

What is underwriting?

Underwriting is the lender’s review of your loan to determine whether the borrower, property, and transaction meet the applicable requirements for approval.

What is a loan condition?

A condition is an item that needs to be provided, verified, or completed before the loan can move to the next stage. Conditions are a normal part of the mortgage process.

What is an appraisal?

An appraisal is an independent professional opinion of a property’s value. Lenders commonly use appraisals to help evaluate the property securing the mortgage.

What does “Clear to Close” mean?

It’s a phrase borrowers love hearing. Clear to Close generally means the lender has completed the required underwriting review and the loan can move into the final closing process, subject to any remaining closing requirements.

What are closing costs?

Closing costs are expenses associated with completing the mortgage and real estate transaction. They can include lender charges, title and settlement fees, appraisal costs, prepaid expenses, escrow deposits, taxes, insurance, and other applicable costs.

How much money will I need at closing?

Your cash to close generally includes your down payment plus applicable closing costs and prepaid items, less any eligible deposits, credits, or other adjustments. You’ll receive disclosures showing the estimated and final amounts.

What happens on closing day?

Final loan and real estate documents are signed, required funds are delivered, and the transaction is completed according to the closing and funding requirements. Then comes the part you’ve been waiting for. Your new home.

When will my first mortgage payment be due?

Your closing documents will specify the exact date of your first payment. Your MortgageFast team can also help point you to the information you need before you leave the closing table.

Can my mortgage payment change?

It depends on your loan. Principal and interest on a fixed rate mortgage generally remain the same, but the total payment can change if taxes, homeowners insurance, mortgage insurance, or other escrowed expenses change.

Can I pay my mortgage off early?

Many mortgages allow additional principal payments or early payoff, but the terms vary by loan. Review your loan documents or ask your MortgageFast expert about the terms applicable to your mortgage.

Can I refinance later?

Potentially. Borrowers may refinance for many reasons, including changing their rate or term, accessing equity, or restructuring their financing. Whether refinancing makes sense depends on your circumstances and market conditions.

Mortgage FAQs

Questions are part of the process.
Getting answers should be easy.

Mortgages come with a lot of questions. We’ve answered some of the most common ones below so you can spend less time searching and more time moving forward.

Try:

Get pre-qualified

Talk to an Expert

Getting Started

Pre-Qualification

Your MortgageFast Account

Down Payments

Credit & Income

Curious what rates look like for your scenario?

Get pre-qualified

Mortgage Rates

Loan Options

The Mortgage Process

Closing

After Closing

Don’t see your question?

Ask a real mortgage expert.

Every mortgage is a little different. If you have a question about your specific situation, we’re here to help you figure it out.

Talk to an Expert

Get pre-qualified

No pressure. No mortgage dictionary required.

Questions are part of the process.Getting answers should be easy.

Getting Started

What do I need to get started with a mortgage?

When should I talk to a mortgage lender?

Do I need to know which type of mortgage I want?

Can I start before I find a home?

Pre-Qualification

What is pre-qualification on MortgageFast?

How long does pre-qualification take?

Is pre-qualification a loan approval?

Does pre-qualification apply to every scenario I build?

Does pre-qualification affect my credit?

What happens after I’m pre-qualified?

Your MortgageFast Account

What can I do in my MortgageFast dashboard?

What is a scenario?

What is Flash?

Can I refinance or open a HELOC through MortgageFast?

How do I talk to a mortgage expert?

Where do the market rates on MortgageFast come from?

Can I delete my account?

Down Payments

Do I need 20% down to buy a home?

What is the minimum down payment?

Can I use gift funds for my down payment?

Can I buy a home with no down payment?

Credit & Income

What credit score do I need to get a mortgage?

Can I get a mortgage if my credit isn’t perfect?

What income can be used to qualify for a mortgage?

I’m self employed. Can I still qualify?

What if I have significant assets but limited traditional income?

Mortgage Rates

How are mortgage rates determined?

Why is the rate I see online different from the rate I’m offered?

What does it mean to lock my rate?

Should I choose the lowest mortgage rate?

Loan Options

What types of mortgages does MortgageFast offer?

What’s the difference between a fixed rate and adjustable rate mortgage?

What is a jumbo loan?

Can MortgageFast finance investment properties?

Do you work with borrowers who don’t fit traditional mortgage guidelines?

The Mortgage Process

How long does it take to get a mortgage?

What documents will I need?

What is underwriting?

What is a loan condition?

What is an appraisal?

What does “Clear to Close” mean?

Closing

What are closing costs?

How much money will I need at closing?

What happens on closing day?

After Closing

When will my first mortgage payment be due?

Can my mortgage payment change?

Can I pay my mortgage off early?

Can I refinance later?

Ask a real mortgage expert.

Questions are part of the process.
Getting answers should be easy.