Home Loan, Mortgage, and Refinance |
Frequently Asked
Questions
There are a lot of misconceptions about home loans…
“I need at least 10% down, right?”
“The bank said I can’t get a home loan. So that’s it?”
“I didn’t even know I had other options.”
My goal is to bring clarity to all the confusion surrounding home loans, mortgages, and what you qualify for, so you can make a choice you’re confident in. The questions below cover the topics and misconceptions I hear most often—but there’s much more to learn.
Tap a section to explore common questions from buyers, agents, and families looking to refinance. Then give me a call. I’d be glad to walk you through the options that fit your exact situation and goals.
Scroll FAQs for:
FAQs for
Homebuyers
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Start by filling out my online loan application, which collects your income, assets, and credit information. I personally review each application, verify documents, and confirm that the income used for qualification meets investor and loan standards. This process results in a true pre-approval, giving you a verified amount you can confidently present with an offer.
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A pre-qualification is an estimate based only on a bit of basic information and a credit pull. A pre-approval includes full document verification and automated underwriting. It’s a bit more work on my side, but it’s the most surefire way to protect you from a loan disappointment days before closing. In fact, I strongly recommend no buyer start the home search process without a true pre-approval in hand.
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The amount you qualify for depends on your income, credit, debt levels, and down payment. I calculate both the max you can qualify for loan-wise and what will give you a comfortable, realistic monthly mortgage payment. Both estimates include your loan principal payment plus interest, taxes, insurance, and mortgage insurance, giving you a complete picture of your potential financial commitment before you make an offer.
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Most loan programs require a score of at least 620. FHA and VA loans can approve a lower score, based on a few other factors. But the higher your score, the more options you have. If your credit is close to qualifying, I can give you specific guidance on how to improve it effectively before you start the application process.
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That depends on which loan you’re using. Conventional loans may require as little as 1% to 3% down, FHA loans require 3.5%, and VA loans typically have no down payment requirement. Down-payment assistance programs are also available. Because the true answer for you is really based on your unique situation, I work with every borrower to figure out the best combination of down payment, interest rate, and loan type that aligns with your financial goals and budget.
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A lower interest rate doesn’t always result in a lower total cost because interest rates are spread out over time. Many lenders charge $1,500–$3,000 in underwriting, processing, or administrative fees up front, which immediately impacts how much cash you need to close on your home. I don’t charge these fees. My compensation comes from the investor who purchases the loan after closing, which means your out-of-pocket costs are lower. If you’re only in your home for a few years, there’s a good chance that upfront savings will be much more than what you’ll save on the slightly lower rate. But I’m happy to run a cost-by-cost comparison so you know for sure.
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VA loans are available to eligible veterans, active-duty service members, and qualifying surviving spouses. They offer significant cost savings and advantages, like no required down payment, no monthly mortgage insurance, and competitive interest rates. I work closely with VA-approved lenders and underwriters to make sure all documentation and eligibility requirements are handled correctly, helping service members access the full benefits you’ve earned.
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Yes! Self-employed and commission-based borrowers can qualify for a home loan using different documentation and underwriting methods. For example, some investors accept bank-statement verifications that use deposits to confirm your income instead of relying solely on tax returns. Others interpret self-employment income differently within agency guidelines. I match each borrower with the lender that best fits their income profile to help you get approved, even if your income is non-traditional.
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Many brokers and direct lenders charge separate processing, underwriting, or administrative fees, which you pay at closing. I do not. My compensation is paid by the investor who purchases the loan after it closes, not you. That saves you cash up front, which can vary anywhere from $1,500 to $3,000 for a typical buyer (your specific savings may be more or less), and lowers how much you have to bring to closing.
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Yes! You aren’t obligated to stay with a lender until your final closing documents are signed. I often help borrowers who began the process with another bank or lender, then experienced communication issues or unexpected fees. If you’re thinking about switching, I’ll start by reviewing your current loan estimates, running a cost comparison, and helping you make sure it’s financially beneficial to move forward with a new lender.
“Karrie was absolutely the best person I’ve ever worked with when it comes to getting a loan. She made the entire process smooth and stress-free. Karrie was professional, kind, and understanding, and she took the time to answer every question I had along the way. Communication was always easy — she responded quickly to both emails and texts and was always available when I needed her. I highly recommend Karrie to anyone looking for a home loan — she truly made the process simple and enjoyable!”
| Laura Grayson, Buyer
FAQs for
Homeowners Considering Refinancing
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That depends on your current interest rate, what rate is now available, and how much longer you plan to keep your property. I always start by calculating your potential savings, comparing your current loan balance, terms, and rate to several refinance options. That analysis shows you closing costs, break-even time, and your long-term interest savings, so you know if the choice makes sense for your situation.
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Most of my clients choose to open a home equity line of credit (HELOC), which gives you access to your home equity without changing your mortgage. But there are other refinance options available. A cash-out refinance replaces your current mortgage with a larger loan amount, giving you immediate funds for renovations, debt consolidation, or other expenses. You can also complete a rate-and-term refinance, which just changes your interest rate or loan term without taking out equity. If you’re unsure which refinance option makes the most sense, we can schedule a mortgage review to look at your current loan and evaluate all available options together.
“I met Karrie years ago when a client I had was using her for a loan. We hit it off. She was easy to work with and very on top of her game. This turned into us using her on personal purchases as well as us recommending her to everyone we know. As a realtor I take pride in trying to work and recommend the best and Karrie really is the best. She is able to run scenarios to make sure you’re getting the loan that makes the most sense for you and your family.”
| Shayne Miller, Real Estate Agent
FAQs for
Real Estate Agents
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Usually within one business day, and often on the same day if the file is straightforward. Give me a call if the pre-approval is time-sensitive and I’ll do my best to prioritize it. Because I verify income and credit before issuing pre-approvals, my letters are reliable representations of your buyer’s true purchasing power, so you’ll have what you need to make a strong offer.
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I complete a full document review before issuing a pre-approval letter. That includes income verification, looking at pay stubs or tax returns, credit review, and a preliminary automated underwriting submission. I’ll also talk to the buyer about their down payment, where it will come from, and what they can afford monthly. In the end, this process gives your buyer a strong letter they can make a competitive offer with and it essentially eliminates any loan qualification issues we might run into during contract-to-close.
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My average contract-to-close timeline is two to three weeks, and the vast majority of files I’ve processed in over 20 years of doing mortgages I had ready well before the closing date. I aim to get the file to the title company several days early—a full week if possible—so there are no delays or disappointments in the process. The only factors that can really impact this timeline are the appraisal, inspection report, and your ability to provide the necessary documents promptly.
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No, I don’t charge underwriting, processing, or administrative fees to the buyer. My compensation comes solely from the investor who purchases the loan after closing. This structure keeps the buyer’s upfront costs lower and simplifies the fee disclosure process, so they have more cash for their down payment or moving costs. It also makes my loan estimates more transparent, which helps you present cleaner offers for clients with limited cash to close.
“Karrie is absolutely fantastic to work with! I’ve done nearly all of my transactions with her over the past four years I’ve been in real estate — and even trusted her with my own home purchase. She never pressures my clients, communicates quickly, and is always on top of every detail. We work so well together that I honestly can’t imagine working with anyone else!”
| Reily Ayres, Real Estate Agent
Why Trust The Texas Loan Lady ?No one will work harder for you.
As an independent mortgage broker, I help homebuyers secure better loan options and more affordable terms—so they don’t have to wait years to buy.
I have access to more investors and loan programs than banks and mortgage lenders, so I can match you with options like 1% or 3% conventional loans, 3.5% FHA, VA, or down payment assistance programs. I’ll explain each one in clear terms, including the trade-offs, so you can get qualified faster and buy sooner—with a payment you understand and can afford.
Loan approvals in under 24 hours. Closings in weeks, not months.
Your next home is waiting.