With over 23 years of mortgage experience, access to dozens of lenders, and fast closings, we offer more flexibility and loan options than most retail banks or lenders. We even pre-underwrite every file for a smoother, faster approval.
We offer loan programs with as little as 0% down for qualifying buyers. FHA loans require 3.5% down, and VA or USDA loans offer 0% down payment options for eligible borrowers.
First-time homebuyers can benefit from Conventional 3% down, FHA loans, and Down Payment Assistance programs. We also offer HomeStyle Renovation and Buy Before You Sell options.
Yes! You can purchase a 2 to 4-unit primary residence with as little as 5% down using a conventional loan or 3.5% down with an FHA loan.
Yes, we specialize in loans for self-employed clients, including Bank Statement Loans (12 or 24 months of deposits) and 1099-only loans, using up to 90% of your 1099 income.
We offer limited and no income / no employment verification loans for qualified borrowers using asset-based or alternative documentation programs.
Non-QM (Non-Qualified Mortgage) loans are designed for borrowers who don’t meet traditional lending criteria. These include self-employed individuals, real estate investors, foreign nationals, and more.
Yes! We offer FHA 203k (Standard & Streamline), HomeStyle Renovation Loans, and VA Renovation Loans (up to $200k). These loans allow you to finance both the purchase and renovation of your home in one mortgage.
Veterans can take advantage of VA Loans with 0% down payment, no mortgage insurance, and favorable terms. We also offer VA Renovation Loans.
Yes! We offer ITIN Loans for non-citizens with Individual Taxpayer Identification Numbers and Foreign National Loans for international buyers purchasing U.S. investment properties.
Yes, we work with several Down Payment Assistance (DPA) programs that can be combined with FHA and Conventional loans to help cover your initial costs.
This program lets you purchase a new home using the equity in your current home, so you can move first and sell your old home afterward—typically within 3 months.
Debt Service Coverage Ratio (DSCR) loans are for real estate investors. These loans qualify based on the rental income of the property—not your personal income.
A reverse mortgage allows homeowners age 62 or older to tap into their home’s equity—either through refinancing or purchasing a new home—without monthly mortgage payments.
Yes! VA and USDA loans offer 100% financing for eligible borrowers and properties.
The first step is getting pre-approved. This helps you understand how much home you can afford and shows sellers you're a serious buyer. At Nearby Lending, we offer fast pre-approvals, often within the same day.
Our average clear-to-close timeline is 7 to 10 days once all documents are submitted. In general, the full process takes about 2 to 4 weeks, depending on your loan type and responsiveness.
For most loans, you’ll need to provide:
Non-QM or self-employed borrowers may need to provide bank statements, 1099s, or alternative documentation instead.
We recommend starting with a pre-approval, especially in competitive markets.
This depends on your income, debts, credit score, and down payment. We’ll help you evaluate all these factors and find a loan that fits your budget comfortably.
PMI is required for most conventional loans with less than 20% down. It protects the lender, not the borrower, but it can often be removed once you reach 20% equity.
A hard credit inquiry is part of the pre-approval process and may have a small, temporary impact on your score. However, multiple inquiries within a 30-day window are usually treated as one by credit bureaus when shopping for a mortgage.
In most cases, your monthly payment typically includes principal, interest, taxes (real estate), insurance (homeowners), and PMI (if applicable). This is commonly referred to as PITI. Taxes and insurance would be collected with the mortgage payment and saved in an escrow account. When the bill comes due for either taxes and insurance, the escrow department will send payment to county or insurance company and deduct the amount from the account. In some cases, you can waive the taxes and insurance and manage to pay the taxes and insurance when they come due from your own savings.
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