FAQ

What is the minimum credit score required to apply for a loan?

It depends on the loan type: Conventional loans often need 620+, FHA 580+ (with 3.5% down), VA no minimum but lenders prefer 620+. Higher scores (740+) unlock better rates. We work with a wide range of credit profiles and can help improve yours if needed. Let's check your options — reach out for a free consultation.

How long does it take to get loan approval?

Pre-approval: 1–3 days. Full approval after offer accepted: 30–45 days average (faster with strong files). We prioritize speed in fast-moving SoCal markets — many clients close in 21–30 days. Factors like appraisal and title can affect timing.

What documents do I need to provide when applying for a loan?

Typically: recent pay stubs (30 days), W-2s or 1099s (2 years), bank statements (2 months), tax returns (2 years), ID, and asset statements. Self-employed? We may use bank statements or P&L. We guide you step-by-step — no need to guess.

Can I refinance my current loan through Veltm?

Absolutely. We offer rate-and-term refinances (lower rate/shorter term), cash-out (access equity), and streamline options (FHA/VA). In 2026’s mid-6% rate environment, many SoCal homeowners save hundreds monthly. Get a quick quote to see if refinancing makes sense for you.

Are there any hidden fees associated with your services?

No hidden fees — we’re transparent about lender fees, origination, appraisal, title, and escrow costs upfront. No junk fees or surprise charges. You’ll get a full Loan Estimate early in the process showing every cost.

What types of loans does Veltm offer?

Conventional, FHA, VA, Jumbo, Non-QM (for self-employed/investors), fixed-rate, adjustable-rate, refinance, and more. We shop multiple lenders to find the best fit for your credit, income, and SoCal property.

What is the difference between pre-qualification and pre-approval?

Pre-qualification is a quick, informal estimate based on self-reported info (no hard credit pull). Pre-approval is a stronger commitment: we review your credit, income, assets, and debts with a hard pull, giving you a conditional approval letter valid 60–90 days. In competitive SoCal markets, pre-approval makes your offers stand out. Ready to get pre-approved?

Do you offer loans for first-time homebuyers?

Yes — we specialize in first-time buyers with programs like FHA, VA, conventional low-down-payment options, and down payment assistance. We also connect you to SoCal-specific grants and education resources. Many first-timers close with 3–5% down or less.

FAQ