Mortgage FAQs

Share income, credit, and asset details with a Clear Mortgage loan officer. After review, you can receive a pre-approval letter that helps sellers take your offer seriously.

Most borrowers start with recent pay stubs, W-2s, two years of tax returns if self-employed, and statements for checking, savings, and other assets used for down payment or reserves. Your loan officer will confirm the exact list for your scenario.

Pre-qualification often relies on self-reported numbers. Pre-approval typically includes a credit pull and documented income and assets, which is usually stronger when writing an offer.

Conventional, FHA, VA, USDA, jumbo, and refinance options each solve different needs around credit, down payment, property type, and occupancy. A Clear Mortgage loan officer can compare paths based on your goals and cash-to-close.

It depends on the program and your profile. Some options allow lower down payments, while larger down payments can reduce mortgage insurance or improve pricing. Ask about first-time buyer and assistance programs that may apply in your area.

Closing costs can include appraisal, title, escrow, prepaid taxes and insurance, and lender fees. Your loan estimate and Closing Disclosure outline these items; your loan officer can walk through what is typical for your transaction.

No. Clear Mortgage calculators are educational tools only. They are not a rate quote, underwriting decision, or commitment to lend. Actual payments may include mortgage insurance, HOA dues, and other costs.

Timelines vary by file complexity, appraisal, title, and how quickly documents are returned. Many purchase loans target closing around 30 days once under contract, but your loan officer will set expectations for your specific file.

Avoid new credit cards, large purchases, job changes, and undocumented large deposits when possible. Tell your loan officer early if something material changes so your file stays on track.