Frequently Asked Questions
Answers to common questions about getting started.
A little clarity goes a long way.
Where should I start if I’m buying a home?
Start with a conversation about your purchase plans, income, available funds, and comfort with a monthly payment. We can explain the application process and help you identify the documents needed to review your financing options.
What if I’m self-employed or buying an investment property?
Tell us about your income structure and the property you’re considering. We can discuss conventional and alternative documentation scenarios, as well as investor financing, subject to lender requirements and eligibility.
How do I know whether refinancing makes sense?
Compare the potential benefits against closing costs, the new loan term, and how long you expect to keep the loan. A refinance review can help you assess the tradeoffs for your specific situation.
What documents should I prepare?
Common requests include identification, income and employment documentation, recent bank statements, and information about the property and existing debts. The exact list depends on your loan program and circumstances. Please use a secure application channel for sensitive documents.
Is a conversation the same as approval?
No. A conversation helps frame your options. Application review, documentation, property review, and underwriting determine whether a loan can be approved.
Does the calculator show my actual loan terms?
No. It uses your illustrative inputs and assumes a standard fixed-rate, fully amortizing loan. Taxes, insurance, mortgage insurance, and HOA dues are included only at the amounts you enter. It is not a Loan Estimate.
Can I compare purchase and refinance scenarios?
Yes. Discuss the loan purpose, property, current loan if applicable, costs, and your plans. The relevant program and documentation requirements depend on your situation.
How should I send financial records?
Use the LendingPad application portal or another delivery method confirmed by your loan team. Do not send Social Security numbers or banking records through an ordinary email inquiry.
Can I discuss rental-property or business-owner financing?
Yes. Tell us about the property, rental income where relevant, business ownership, and income documents. Availability is subject to the lender and applicable licensing.
What should I compare in loan offers?
Review the rate, loan term, payment structure, closing costs, mortgage insurance, and whether estimates use comparable tax and insurance assumptions. Ask the loan team to explain the differences.