1. What does a mortgage broker do that a bank doesn’t?
A bank sells only its own loans. As a broker with Loan Factory, I shop your application across 240+ lenders, compare their rates and fees for your exact profile, and negotiate on your behalf. You get one application, one point of contact — me — and access to programs a single bank often doesn’t offer, including bank statement, DSCR, and other specialty loans.
2. How much down payment do I really need?
Possibly none. VA and USDA loans allow 0% down for eligible borrowers and properties. FHA starts at 3.5% down, and conventional options like HomeReady and Home Possible start at 3%. A larger down payment can improve your rate and remove mortgage insurance, but “20% or wait” is a myth. Tell me your savings and goals and I’ll show you what each down payment level buys you.
3. What credit score do I need to buy a home?
It depends on the program. FHA may accept scores in the 500s with a larger down payment, and many borrowers qualify at 580+ with 3.5% down. Conventional loans generally start around 620, and stronger scores earn meaningfully better pricing. Scores are one factor among several — income stability, reserves, and debt ratios matter too. A quick conversation costs nothing and beats guessing from the internet.
4. How do I get pre-approved, and why does it matter?
You complete my secure online application and provide basic documents — ID, income, assets, and debts — and I verify them and issue a written pre-approval, typically within a few business days of a complete file. Sellers and listing agents treat verified pre-approvals far more seriously than online estimates, which matters in competitive Kentucky, Indiana, Georgia, and Tennessee markets.
5. How long does it take to close a loan?
Most purchases close in about 30–45 days and straightforward refinances in 30–60 days, but timelines vary with appraisal scheduling, loan complexity, and how quickly documents are returned. Streamline refinances (FHA Streamline, VA IRRRL, USDA Streamlined Assist) are often faster because they require far less documentation. I’ll give you a realistic timeline for your file up front and update you at every milestone.
6. Where are you licensed, and which areas do you serve?
I’m licensed as a Mortgage Loan Originator in Georgia, Indiana, Kentucky, and Tennessee (NMLS #2262708), with Loan Factory licensed nationally (NMLS #320841). Whether you’re buying near Fort Knox or Louisville, relocating to Indianapolis, Atlanta, or Nashville, or refinancing anywhere in those four states, I can help. I work with clients by phone, video, and email — in English or Hindi.
7. I’m self-employed. Can I still qualify for a mortgage?
Very often, yes. Programs like bank statement loans (12–24 months of deposits instead of tax returns), 1099 and profit-and-loss loans, and asset-qualifier loans are designed for business owners, contractors, and freelancers whose tax returns understate their real income. These loans usually need a larger down payment and carry somewhat higher rates, but they solve a real problem. Bring me how you actually earn, and I’ll match the program to it.
8. When does refinancing actually make sense?
When the savings beat the costs within the time you’ll keep the loan — the break-even test. Refinancing can lower your rate or payment, shorten your term, remove mortgage insurance, or put equity to work through a cash-out loan. I’ll calculate your break-even month in writing before you commit. If the math says wait, I’ll tell you to wait — and keep watching rates for you.
9. What is the $2,000 Best Price Guarantee?
Loan Factory’s promise: get a competing lender’s official quote for the same loan, and if Loan Factory can’t beat the combination of rate and fees, you may be eligible for a $2,000 guarantee payment when you close with that lender instead. Specific terms, loan-type limits, documentation, and deadlines apply. Ask me for the full terms before you rely on it, and I’ll walk you through exactly how to qualify.
10. How do I get started — and does it cost anything to talk?
Just talk to me. Call (502) 233-4197, email talktome@truehomelending.com, or start the secure online application — an initial conversation and a rate quote cost nothing and carry no obligation. For a head start, gather your ID, recent pay stubs, two months of bank statements, and your most recent mortgage statement if you own a home. I’ll take it from there.