FAQs
- Frequently Asked Questions
Common Questions About Mortgage Financing
Straightforward answers about loan options, qualifications, documentation, and the mortgage process.
Mortgage financing involves many questions — especially for borrowers with non-traditional situations. These answers are for general informational purposes. Your specific scenario may differ, and loan programs change. Contact Ink Mortgage Group to discuss your actual situation.
General Questions
Self-Employed Borrower
Condo Financing
Credit & Income
Foreign Nationals
Investors
Commercial Loans
The Process
General Mortgage Questions
No. Ink Mortgage Group, NMLS #1439054, is a licensed Florida mortgage brokerage. We do not lend our own money. We help qualified borrowers explore loan options through a network of third-party lending partners.
No. Different loan programs have different credit requirements. Some conventional loans may require stronger credit, while FHA, VA, or non-QM loans may offer more flexibility. Credit history, down payment, income, assets, and property type all factor into lender decisions.
Down payment requirements vary significantly by loan program. Some government loans (VA, USDA) may offer zero-down options for eligible borrowers. Conventional loans may require 3–5% down for qualified buyers. Investment properties typically require larger down payments. Your actual down payment will depend on borrower qualifications, property type, and lender guidelines.
Pre-qualification is typically an initial estimate based on information you provide. Pre-approval usually involves a more formal review, including documentation and a credit check. Ink Mortgage Group can help you understand which step makes sense for your situation.
Timelines vary. A straightforward purchase or refinance may close in 30–45 days. Complex files, non-QM loans, or commercial transactions may take longer. Your responsiveness in providing documentation affects the timeline.
Self-Employed Borrower Questions
Yes, but the documentation requirements differ from traditional W-2 borrowers. Self-employed borrowers typically need to demonstrate business history (usually two years) and provide tax returns, bank statements, or alternative documentation depending on the loan program.
Bank statement loans allow eligible self-employed borrowers to qualify using 12–24 months of personal or business bank statements instead of tax returns. These are non-QM programs with different guidelines, typically requiring higher down payments and stronger credit.
It depends. Traditional loans (conventional, FHA, VA, USDA) use taxable income after deductions. Bank statement loans and some non-QM programs may focus on deposit activity rather than taxable income. Your specific situation determines which options may be available.
Most traditional loan programs require two years of filed personal and business tax returns. Some alternative programs may accept one year under certain circumstances.
Condo Financing Questions
Yes. Lenders evaluate both the borrower AND the condo project. Even a well-qualified borrower may not get a loan if the condo project does not meet lender guidelines.
A condo project that does not meet Fannie Mae, Freddie Mac, FHA, or VA guidelines. Common reasons include high investor concentration, pending litigation, inadequate reserves, or excessive commercial space. Non-warrantable condos may still qualify for portfolio or non-QM financing.
Recent Florida legislation has created new requirements for condo associations, including milestone inspections and structural reserve studies. These changes may affect financing availability for some projects. Ink Mortgage Group stays current on these issues and can help evaluate specific scenarios.
Credit and Income Questions
Lenders typically request W-2s, pay stubs, tax returns, and bank statements. Self-employed borrowers may provide additional documentation. The specific verification method depends on the loan program.
Yes, for many loan programs. Conventional, FHA, and VA loans may allow gift funds from family members. Documentation requirements vary. Not all programs accept gift funds.
Yes. Lenders review your monthly debt obligations in relation to your monthly income. Different loan programs have different DTI limits. Some non-QM programs offer more flexibility for borrowers with higher DTI ratios.
It depends on how long ago the event occurred, the loan program, and other compensating factors. Conventional, FHA, VA, and non-QM programs have different waiting periods. Ink Mortgage Group can help you understand which options may be available based on your timeline.
Foreign National Questions
Yes. Foreign national loan programs may be available for eligible non-U.S. buyers purchasing Florida real estate. Requirements vary by lender and may include passport, visa documentation, foreign credit references, U.S. bank accounts, reserves, and down payment.
Not necessarily. Some foreign national loan programs use alternative credit references such as foreign credit reports, rental history, or utility payments. Requirements vary by lender.
Investor Questions
Yes. Financing options are available for single-family rentals, condos, townhomes, and small multifamily properties. Investment property loans typically require larger down payments and higher credit scores compared to owner-occupied properties.
A DSCR (Debt Service Coverage Ratio) loan is an investment property loan where lenders evaluate the property's rental income in relation to the proposed mortgage payment. These loans may not require traditional personal income documentation, though borrower credit and reserves are still reviewed.
Yes, subject to lender guidelines, loan-to-value limits, and property eligibility. Terms vary significantly by lender and program.
Commercial Loan Questions
Yes, we help with small commercial financing for office condos, medical offices, retail plazas, mixed-use buildings, and other eligible commercial properties. We focus on practical small commercial transactions, not large institutional deals.
Lenders typically review property type, location, loan amount, borrower credit, liquidity, business financials (for owner-occupied properties), rent roll and leases (for investor-owned properties), net operating income, debt service coverage ratio, and appraisal.
No. Commercial loans are more customized, with varying terms, rates, documentation requirements, and underwriting criteria. They typically require larger down payments and may have shorter loan terms or balloon payments.
The Mortgage process
No. Do not submit Social Security numbers, bank statements, tax returns, or other sensitive financial documents through general website contact forms. Ink Mortgage Group will provide instructions for secure document submission when appropriate.
Contact Ink Mortgage Group to discuss your scenario. We will ask about your goals, property type, income profile, credit background, and documentation. Based on that conversation, we can help identify which loan options may be worth exploring.
Contact Ink Mortgage Group directly to discuss any potential fees associated with your specific situation. Fee structures vary based on the services provided.
The calculators provide estimates only. Actual loan terms, payments, rates, costs, taxes, insurance, and eligibility will vary. Calculator results are not loan offers, approvals, or commitments to lend.
Important Disclaimers
The information provided in these FAQs is for general informational purposes only and does not constitute financial, legal, or tax advice. Mortgage guidelines, loan programs, interest rates, fees, documentation requirements, and underwriting criteria vary by lender and may change without notice.
Ink Mortgage Group does not guarantee loan approval, specific terms, rates, or closing. All loans are subject to lender approval, underwriting guidelines, borrower qualification, income and asset verification, property approval, program availability, and applicable federal and state law.
Your specific situation may differ from the general answers provided above. Contact Ink Mortgage Group to discuss your actual mortgage scenario.
Still Have Questions About Your Specific Situation?
Every borrower’s situation is unique. The best way to get accurate answers is to discuss your actual scenario — your credit, income, property type, and goals.