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FAQs and resources
Straight answers to common questions. If yours isn't here, ask us directly.
Frequently asked questions
What's the first step?
Schedule a consultation or send us a quick message. We'll talk through your goals, the property, and your timeline. If it makes sense to move forward, you'll complete your full application through our secure application portal.
Do you offer both residential and commercial financing?
Yes. We work with residential financing for homes and one-to-four unit rental properties, and commercial financing for income-producing and business properties. See Residential Loans and Commercial Loans.
What's the difference between pre-qualification and pre-approval?
In general, a pre-qualification is an early estimate based on information you share. A pre-approval usually involves reviewing documents and your credit, so it carries more weight when you make an offer. Exact definitions can vary by lender, so we'll explain what applies to you.
What documents are commonly requested?
It depends on the loan and your situation. Common examples include a government-issued ID, recent pay stubs, W-2s or tax returns, and recent bank statements. Self-employed borrowers and investors may be asked for different documents. We'll give you a list that fits your application.
How should I send my personal information and documents?
Please use our secure application portal for your full application and documents. Our website contact form is only for basic contact details, so please don't include Social Security numbers, account numbers, or other sensitive information there.
How long does the mortgage process take?
Timelines vary with the loan type, the property, and how quickly documents come together. After we review your situation, we'll give you a realistic picture of the steps ahead.
How can I check a mortgage professional's license?
You can look up any company or individual on NMLS Consumer Access. Secure Step Mortgage's company NMLS number is 2767457. You'll find our team's NMLS numbers on Our Team and Licensing & Disclosures.
Mortgage terms in plain language
General definitions to help you follow the conversation. How each one applies depends on your loan.
- Annual percentage rate (APR)
- The interest rate plus certain lender fees and costs, expressed as a yearly rate. It's usually higher than the interest rate alone.
- Closing costs
- Fees and expenses paid to finalize a loan, such as lender, appraisal, title, and recording fees.
- Debt-to-income ratio (DTI)
- Your monthly debt payments divided by your gross monthly income. Lenders use it to judge what payment is manageable.
- Escrow account
- An account your loan servicer may use to collect and pay property taxes and homeowners insurance as part of your monthly payment.
- Loan-to-value ratio (LTV)
- The loan amount divided by the property's value or purchase price.
- Mortgage insurance
- Insurance that protects the lender if a borrower stops paying. It may be required on some loans, such as FHA loans and conventional loans with less than 20% down.
Your Next Step Starts Here.
Schedule a consultation to talk through your goals, or start your application in our secure portal when you're ready.