FAQs | Mortgage Questions Answered by the Ray Campbell Team

What if I just started a new job—can I still get approved for a mortgage?

Yes, you can. Most lenders—including our team—can work with you as long as your new job is in the same industry or career field and you're a full-time employee. A signed offer letter or recent pay stubs may be enough to get you qualified.

I’m self-employed and my income fluctuates. How do I qualify for a loan?

We work with many self-employed clients and understand that income can vary. Typically, we’ll look at your last two years of tax returns and calculate an average. We can also help you structure your finances to improve your approval odds.

I want to buy a home but I have student loan debt. Will that hurt my chances?

Not necessarily. We take a full view of your financial profile—including your income, savings, and other debts. Many buyers with student loans still qualify for FHA, VA, or conventional loans. We'll walk you through how your specific debt-to-income ratio affects your options.

Can I get a loan if I had a bankruptcy or foreclosure in the past?

Yes. Depending on how much time has passed, you may still qualify for an FHA, VA, or even a conventional loan. We'll review your credit rebuild progress and help you understand the timeline and next steps based on your specific situation.

I’m buying a home with my partner, but only I have income. Can we still apply together?

Yes, you can apply jointly or as a sole applicant. If only one person has income, we’ll typically qualify the loan based on that income alone. However, adding your partner may still help if they have strong credit—even without current income.

I don’t have a 20% down payment. What are my options?

You don’t need 20% down to buy a home. We offer low down payment options through FHA (3.5%), VA (0% for qualified borrowers), and even some conventional loans (as low as 3%). We can also connect you with down payment assistance programs to cover part of the cost.

I want to refinance, but my credit isn’t perfect. Is it still worth looking into?

Absolutely. Even with average credit, you might still qualify for a better rate or a different loan term. Programs like RefiNow and Refi Possible were created for homeowners just like you. Let us run a free analysis to see if you could benefit.

I work full-time but also have side income. Can I include both when applying?

Yes—depending on how long you've been earning the side income and how it's documented. If you've consistently earned it for at least two years and can show proof (like tax returns or 1099s), we can likely include it in your application.

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