Your Mortgage Questions. Straight Answers.

A bank sells you their own products — they have one set of rates from one lender. A mortgage broker shops dozens or hundreds of wholesale lenders on your behalf. I have access to over 100 wholesale lenders, which means more programs, more competitive rates, and more flexibility when your situation doesn't fit a cookie-cutter profile. Big banks also charge retail markup on every loan. Wholesale lenders don't. That difference typically saves buyers $10,000–$30,000 over the life of a loan.

Less than most people think. Conventional loans start at 3% down for first-time buyers. FHA is 3.5% with a 580+ credit score. VA loans are 0% down for eligible veterans. USDA loans are 0% down in eligible rural areas. And Illinois has IHDA down payment assistance programs that can cover $6,000–$10,000 in forgivable grants. The 20% number you hear is a myth for most buyers — it's when PMI goes away on a conventional loan, not a requirement to buy.

A single mortgage inquiry typically drops your score by 2–5 points — a small and temporary effect. More importantly, the credit bureaus treat multiple mortgage inquiries within a 14–45 day window as a single inquiry, so shopping multiple lenders doesn't compound the impact. Don't let fear of a minor credit inquiry stop you from getting a proper quote comparison. The rate difference between lenders can cost you far more than a few points on your credit score.

Yes — and you have more options than most people realize. Conventional loans use 2 years of tax returns, which can be challenging if you write off a lot of expenses. But non-QM loans (specifically bank statement loans) use 12–24 months of business or personal bank statements to calculate income. No tax returns required. This is a specialty area where most retail banks fall short — they only offer conventional products. I work with multiple wholesale non-QM lenders specifically for self-employed borrowers.

With complete documentation and a standard purchase, we target 21 days. Rush closings of 10–14 days are possible with certain lenders and loan types — but require complete documents immediately and appraisal flexibility. The biggest delays in closing almost always come from the borrower side (missing documents, slow responses) or the appraisal. If you need a fast close, tell me upfront and we'll structure the loan and lender selection around that constraint.

Nobody can predict rates with certainty — not economists, not the Fed, not me. What I can do is help you frame the decision: if you're within 30–45 days of closing and rates are at a level that works for your budget, lock. Don't gamble on something unpredictable when you've already found a home that fits your life. If you're 60+ days out, floating makes more sense. And if rates do drop after you close, refinancing is always an option — you're not locked in forever.

I'm paid by the lender at closing — a broker fee that's disclosed on your Loan Estimate. This is not an additional cost to you on top of the lender's rate; it's built into the wholesale pricing structure. Unlike retail banks, wholesale lenders price loans without the overhead of branch networks and retail staff, which is why wholesale rates are typically lower even after the broker fee. You'll see every fee disclosed upfront before you commit to anything.