Frequently Asked Questions
Disclaimer: The information in these FAQs is for general educational purposes only and is not a commitment to lend. Loan programs, guidelines, eligibility requirements, and availability vary and are subject to change. All loans are subject to application, documentation, underwriting, and approval.
General Home Loan Questions
How are Dylan Crews, Crews Home Loans, and Edge Home Finance connected?
Crews Home Loans is the client-facing brand of Dylan Crews, a licensed mortgage loan originator with Edge Home Finance, LLC. Dylan originates mortgage loans through Edge Home Finance, LLC, which provides access to more than 160 wholesale lenders.
Dylan Crews: NMLS #1987505
Edge Home Finance, LLC: NMLS #891464
What types of home loans does Dylan Crews at Edge Home Finance offer?
Dylan helps borrowers compare conventional, FHA, VA, USDA, jumbo, construction, renovation, refinance, HELOC, DSCR, bank-statement, and other alternative-documentation mortgage options. Dylan recommends loan strategies based on the borrower’s income, credit, property type, available funds, and long-term financial goals.
What types of home loans does Crews Home Loans offer?
Crews Home Loans helps borrowers explore conventional, FHA, VA, USDA, jumbo, refinance, construction, renovation, HELOC, and alternative-documentation mortgage options. Loan programs are matched to your income, credit profile, property type, down payment, and long-term financial goals.
How do I know which mortgage loan is right for me?
The right mortgage depends on several factors, including your income, credit, available down payment, monthly debts, property type, and how long you plan to own the home. Dylan Crews reviews your complete financial picture and compares available loan options before recommending a mortgage strategy.
What is the first step in getting a home loan?
The first step is a mortgage strategy conversation followed by a loan application and document review. This helps determine how much you may qualify to borrow, which loan programs fit your situation, and whether there are any steps you should take before shopping for a home.
What is the difference between a mortgage broker and a bank?
A bank generally offers mortgage products from its own institution. A mortgage broker can compare loan programs and pricing from multiple lenders to help identify options that fit the borrower’s financial situation and goals.
Does getting a mortgage quote obligate me to apply?
No. Requesting a mortgage quote or discussing your loan options does not require you to move forward. It gives you an opportunity to understand potential programs, estimated costs, and possible next steps before making a decision.
Mortgage Pre-Approval Questions
What is a mortgage pre-approval?
A mortgage pre-approval is a lender’s preliminary evaluation of your credit, income, assets, debts, and financial documents. It provides an estimate of how much you may be able to borrow, subject to final underwriting and property approval.
Should I get pre-approved before looking for a home?
Yes. Getting pre-approved before house hunting helps you understand your purchasing range and can make your offer more competitive. It can also identify credit, income, or documentation issues before you are under contract.
What documents do I need for a mortgage pre-approval?
You may be asked to provide recent pay stubs, W-2s or tax returns, bank statements, identification, employment information, and documentation for other income or assets. Self-employed borrowers may need additional business or income records.
How long does a mortgage pre-approval take?
The timeline depends on how quickly the necessary information and documents are provided. Straightforward applications may be reviewed quickly, while applications involving self-employment, multiple income sources, investment properties, or credit concerns may require additional review.
Does a pre-approval guarantee that my mortgage will be approved?
No. A pre-approval is not a final loan approval. Final approval depends on underwriting, verification of your financial information, an acceptable appraisal, the property meeting program requirements, and no material changes to your finances before closing.
How long is a mortgage pre-approval valid?
Mortgage pre-approvals are generally valid for a limited period because credit reports, income documents, assets, interest rates, and financial circumstances can change. Dylan can update your pre-approval when necessary during your home search.
Credit and Down Payment Questions
What credit score do I need to buy a home?
There is no single minimum credit score for every mortgage. Some conventional programs may be available with a score of 620, although automated underwriting results and lender requirements vary. FHA guidelines may allow maximum financing with a score of 580 or higher and up to 90% financing with a score between 500 and 579. The VA does not establish a universal minimum credit score, although individual lenders may. USDA and alternative-program requirements also vary. Credit score is only one part of the review; income, debts, assets, down payment, property type, and payment history also affect eligibility.
Can I qualify for a mortgage with less-than-perfect credit?
Possibly. Mortgage approval is not based on credit score alone. Payment history, income, monthly debts, available assets, down payment, and the type of loan being requested can all affect eligibility. Even when you are not ready immediately, a mortgage strategy review can help you create a plan.
How much down payment do I need to buy a home?
FHA and conventional loans offer low down payment options. If you qualify for a VA or USDA loan, you may not need a down payment at all. A larger down payment may reduce the loan amount, monthly payment, or mortgage-insurance cost, but is not required for every mortgage.
Can I buy a house with no down payment?
Some qualified borrowers may be eligible for a zero-down-payment VA or USDA loan. Eligibility depends on military service, property location, household income, occupancy requirements, and other program guidelines.
Can I use gift funds for my down payment?
Many mortgage programs allow gift funds from an eligible donor to be used toward a down payment or closing costs. The donor, transfer of funds, and source of the funds must be documented, and specific requirements vary by loan program.
Are down payment assistance programs available in Tennessee?
Yes. Eligible Tennessee homebuyers may qualify for down payment or closing-cost assistance through the Tennessee Housing Development Agency, local housing agencies, or other approved programs. THDA’s Great Choice Plus program currently offers qualified borrowers assistance based on a percentage of the purchase price, subject to maximum assistance amounts and program requirements. Eligibility may depend on income, credit, purchase price, location, occupancy, and homebuyer education. Because assistance programs change, Dylan can review the options available when you are ready to purchase.
What are closing costs on a mortgage?
Closing costs are expenses associated with obtaining a mortgage and completing the home purchase. They may include lender charges, appraisal fees, title services, insurance, prepaid property taxes, escrow deposits, recording fees, and other transaction-related costs.
First-Time Homebuyer Questions
Who qualifies as a first-time homebuyer?
For many mortgage and assistance programs, a first-time homebuyer is someone who has not held an ownership interest in a property during the previous three years. This means someone who owned property in the past may still qualify as a first-time buyer. Certain exceptions may apply, and definitions vary by program.
What is the best home loan for a first-time buyer?
There is no single best mortgage for every first-time buyer. Conventional, FHA, VA, and USDA loans can each offer advantages depending on the borrower’s credit, income, down payment, military eligibility, preferred location, and long-term goals.
Can a first-time buyer purchase a home with 3% down?
Some qualified borrowers may be eligible for a conventional mortgage with a down payment as low as 3%. Approval and pricing depend on credit, income, debt, property type, mortgage insurance, and lender guidelines.
Is an FHA loan only for first-time homebuyers?
No. FHA loans are not limited to first-time buyers. Eligible repeat buyers may also use FHA financing, although the financed home generally must be occupied as the borrower’s primary residence. Income, credit, property, occupancy, and underwriting requirements apply.
FHA, VA, USDA, and Conventional Loan Questions
What is an FHA loan?
An FHA loan is a mortgage insured by the Federal Housing Administration. FHA loans may offer flexible credit and down payment guidelines, making them an option for first-time buyers and borrowers who may not qualify for certain conventional programs.
What is a conventional mortgage?
A conventional mortgage is a home loan that is not insured by a federal government agency. Conventional loans can offer flexible terms and may be used for primary residences, second homes, and certain investment properties, depending on the program.
What is a VA home loan?
A VA loan is a mortgage program available to eligible veterans, active-duty service members, and certain surviving spouses. Qualified borrowers may be eligible for financing without a down payment or monthly private mortgage insurance.
Do VA loans require mortgage insurance?
VA loans generally do not require monthly private mortgage insurance. However, a VA funding fee may apply unless the borrower qualifies for an exemption.
What is a USDA home loan?
A USDA loan is a government-backed mortgage designed for eligible borrowers purchasing a primary residence in a qualifying rural or suburban area. Qualified borrowers may be able to finance the home without a down payment, subject to income and property eligibility requirements.
Is every rural property eligible for a USDA loan?
No. Both the property and the borrower must meet USDA eligibility requirements. The home must be located within an eligible area, and household income must fall within applicable program limits.
Self-Employed Borrower Questions
Can I get a mortgage if I am self-employed?
Yes. Self-employed borrowers can qualify for a mortgage, but the documentation and income analysis may differ from those used for salaried employees. Options may include traditional tax-return qualification or alternative-documentation programs, depending on the borrower’s circumstances.
What documents do self-employed borrowers need for a mortgage?
Self-employed borrowers may need personal and business tax returns, profit-and-loss statements, business bank statements, personal bank statements, 1099 forms, business licenses, or verification from a tax professional. Requirements vary by loan program.
Can I qualify for a mortgage using bank statements?
Possibly. A bank-statement loan may allow an eligible self-employed borrower to qualify using deposits shown on personal or business bank statements instead of relying solely on taxable income reported on tax returns. The lender reviews eligible deposits and applies a program-specific expense factor when calculating qualifying income. Credit, assets, reserves, property type, and other requirements still apply.
Can I get a mortgage if my tax returns show low net income?
Possibly. Traditional mortgage programs generally use qualifying income calculated from tax returns. However, certain non-qualified mortgage programs may consider bank statements, profit-and-loss statements, assets, or other documentation when appropriate.
What is an asset depletion mortgage?
An asset depletion mortgage allows an eligible borrower to use qualifying financial assets to help demonstrate the ability to repay the loan. The lender converts a portion of eligible assets into calculated monthly income according to program guidelines. This option may benefit retirees or borrowers with substantial assets but limited traditional employment income.
Real Estate Investor Loan Questions
What is a DSCR loan?
A debt service coverage ratio, or DSCR, loan is an investment-property mortgage that compares the property’s eligible rental income with its qualifying monthly housing expense. For example, a DSCR of 1.00 generally means the qualifying rental income equals the expense used in the lender’s calculation, which may include principal, interest, property taxes, homeowners insurance, and applicable association dues. DSCR programs may allow investors to qualify without using traditional employment income, although other requirements still apply.
Do DSCR loans require personal income verification?
Many DSCR programs focus on the property’s expected rental income rather than the borrower’s employment income. However, credit, assets, reserves, property condition, appraisal findings, and other requirements may still apply.
Can I use a DSCR loan for a short-term rental?
Some DSCR programs allow properties intended for short-term rental through platforms such as Airbnb or Vrbo. Eligibility and qualifying income calculations depend on the property, appraisal, rental history or projected rent, location, occupancy restrictions, and lender guidelines. Discuss the intended rental strategy with Dylan before making an offer.
Can I finance an investment property through Crews Home Loans?
Yes. Financing options may be available for rental homes, investment properties, and real estate portfolio growth. The appropriate structure depends on the property’s cash flow, borrower qualifications, occupancy, number of financed properties, and investment strategy.
How much down payment is needed for an investment property?
Investment-property loans commonly require 15% to 25% down, although some properties and programs may require more. A larger down payment may improve loan eligibility or pricing. The required amount depends on the loan type, credit profile, property type, number of units, rental income, and overall risk assessment.
Construction and Renovation Loan Questions
Can I get a mortgage to build a new home?
Yes. Construction financing may be available for qualified borrowers building a home. Depending on the program, a construction-to-permanent loan may finance the building phase and then convert into long-term mortgage financing after construction is complete.
What is a construction-to-permanent loan?
A construction-to-permanent loan combines construction financing and the permanent mortgage into one coordinated loan structure. It can reduce the need to apply for separate loans, although program terms and closing requirements vary.
Can renovation costs be included in a mortgage?
Certain renovation loan programs allow qualified borrowers to finance eligible home improvements based partly on the property’s expected value after the work is completed. The project, contractor, plans, budget, and property must meet program guidelines.
Refinancing and Home Equity Questions
When does refinancing a mortgage make sense?
Refinancing may make sense when it improves your overall financial position. Common reasons include changing the interest rate, shortening or extending the loan term, changing loan types, consolidating certain debts, or accessing home equity. The costs of refinancing should be compared with the expected benefit.
Can I refinance to remove mortgage insurance?
Possibly. Conventional private mortgage insurance may sometimes be canceled through the existing loan servicer without refinancing once applicable requirements are met. FHA mortgage insurance follows different rules and may require refinancing into another loan type for removal. Dylan can compare the cost of refinancing with the potential monthly savings before recommending a strategy.
What is a cash-out refinance?
A cash-out refinance replaces your existing mortgage with a larger loan and provides the difference to you in cash, after paying eligible closing costs and existing liens. The available amount depends on your equity, credit, income, property type, and loan guidelines.
What is a HELOC?
A home equity line of credit, or HELOC, is a revolving credit line secured by the equity in your home. Borrowers can typically access approved funds as needed during the draw period, subject to the terms of the account.
What is the difference between a HELOC and a cash-out refinance?
A HELOC is usually a separate revolving credit line that may have a variable interest rate. A cash-out refinance replaces your existing mortgage with a new, larger mortgage. The better option depends on your current mortgage, the amount needed, repayment goals, costs, and financial situation.
Mortgage Process Questions
How long does it take to close on a home loan?
Mortgage closing timelines vary based on the loan program, appraisal, title work, property condition, borrower documentation, underwriting, and contract deadlines. Providing complete and accurate documents promptly can help prevent unnecessary delays.
What happens after I submit a mortgage application?
After you apply, your information and documents are reviewed, the loan is structured, and required disclosures are provided. The file then moves through processing, appraisal, underwriting, conditional approval, final approval, and closing.
What is mortgage underwriting?
Mortgage underwriting is the process of verifying that the borrower, property, and loan meet the applicable lending guidelines. The underwriter reviews credit, income, employment, assets, debts, appraisal information, and supporting documents.
What should I avoid doing before closing on a home?
Before closing, avoid opening new credit accounts, financing large purchases, changing jobs without discussing it, moving large amounts of money without documentation, missing payments, or increasing credit-card balances. Financial changes can affect final approval.
Can I change jobs while applying for a mortgage?
A job change does not always prevent mortgage approval, but it can affect how income is calculated and verified. Speak with your loan officer before changing jobs, compensation structure, employment status, or work hours.
Why does the lender need to verify large bank deposits?
Mortgage lenders must verify that funds used for the transaction come from acceptable sources and are not undisclosed loans. Large or unusual deposits may require documentation showing where the money came from.
Middle Tennessee Mortgage Questions
Does Crews Home Loans help buyers and homeowners in Middle Tennessee?
Yes. Dylan Crews provides mortgage guidance throughout Middle Tennessee, including Columbia, Spring Hill, Franklin, Brentwood, Nashville, Murfreesboro, and surrounding communities. He is also licensed to originate residential mortgage loans in Tennessee, Alabama, Florida, Georgia, Illinois, Indiana, Kentucky, and North Carolina.
Can Crews Home Loans help me buy a home in Columbia, Tennessee?
Yes. Dylan Crews works with borrowers purchasing homes in Columbia and surrounding Middle Tennessee communities. He can help you review financing options, prepare for pre-approval, and develop a mortgage strategy based on your goals.
Can I get pre-approved for a Tennessee home before contacting a real estate agent?
Yes. You can, and often should, begin the mortgage pre-approval process before selecting a real estate agent or finding a property. Starting early can help you establish a realistic price range and prepare to make an offer.
Can you help me even if I am not ready to buy yet?
Yes. You do not need to be ready to purchase immediately. A mortgage strategy review can help you understand your credit, budget, down payment options, loan choices, and the steps needed to prepare for a future home purchase.
Getting Started
How do I apply for a mortgage with Crews Home Loans?
You can begin by completing the online application or contacting Dylan Crews directly. After learning about your goals, income, credit, property plans, and timeline, Dylan can help you identify appropriate next steps and potential loan options.
Will I work directly with Dylan Crews?
Yes. Dylan’s approach emphasizes direct, personalized mortgage guidance from the initial strategy conversation through the approval and closing process.
Why should I choose Crews Home Loans?
Crews Home Loans combines personalized mortgage planning with access to options from more than 160 wholesale lenders through Edge Home Finance. Dylan helps borrowers compare multiple loan strategies, understand the short- and long-term tradeoffs, and navigate the mortgage process with direct guidance and proactive communication.
Disclaimer: The information in these FAQs is for general educational purposes only and is not a commitment to lend. Loan programs, guidelines, eligibility requirements, and availability vary and are subject to change. All loans are subject to application, documentation, underwriting, and approval.
Edge Home Finance, LLC
5860 Baker Rd
Minnetonka, MN 55345
Company NMLS ID #891464
© Copyright Edge Home Finance | Crews Home Loans | 2026. All rights reserved.
Dylan Crews, Mortgage Loan Originator | NMLS ID #1987505
Edge Home Finance, LLC, Licensed Mortgage Broker | Company NMLS ID #891464
Licensed to originate residential mortgage loans in Alabama, Florida, Georgia, Illinois, Indiana, Kentucky, North Carolina, and Tennessee.
For licensing information, visit NMLS Consumer Access.
This is not a commitment to lend. All loans are subject to application, underwriting, credit approval, program requirements, and property eligibility. Rates and terms are subject to change without notice.
Crews Home Loans is a marketing name used by Dylan Crews. Mortgage brokerage services are provided by Edge Home Finance, LLC. Crews Home Loans is not a separate mortgage lender or mortgage broker.
