A bank or direct lender can only offer their own products. As an independent mortgage broker, West
Capital Lending has access to 150+ lenders and can shop your loan across multiple options
simultaneously. This means more potential programs, a broader range of underwriting approaches, and
a better chance of finding a loan structure that fits your actual situation.
A licensed advisor will reach out within one business day to schedule an introductory call. That
conversation is typically 15–30 minutes — we’ll ask about your goals, timeline, property details, and
general financial profile. From there, we’ll identify the most relevant loan programs and next steps.
No. In fact, we encourage buyers to complete the pre-approval process before they identify a property.
A verified pre-approval gives you clarity on your budget and makes your offer more competitive when
you’re ready to act.
Generally: initial consultation → application → document collection → lender submission → appraisal (if
required) → conditional approval → conditions cleared → clear to close → closing. Our team manages
every step and keeps you informed throughout.
That’s exactly what the initial consultation is for. We don’t recommend loan types before we understand
your situation. After learning about your income structure, property plans, credit profile, and timeline,
we’ll present the programs that are most likely to work well for you.
What credit score do I need to qualify for a mortgage?
It depends on the loan type. Conventional loans typically require a minimum of 620–640. FHA loans may
be available with scores as low as 580. VA loans generally require 580–620 (lender overlays vary).
Jumbo loans typically require 700+. Non-QM and DSCR loans have varied requirements. Contact us to
discuss your specific profile.
Yes. We work with a range of programs designed for self-employed borrowers, including bank
statement loans, P&L-only; loans, 1099 loans, and asset depletion programs. These Non-QM products
have different qualifying criteria than standard documentation loans.
Debt-to-income (DTI) ratio is a key factor in loan qualification. Most conventional loans have DTI limits in
the 43–50% range. Some programs allow higher DTIs with compensating factors. We’ll calculate your
DTI during the pre-approval process and identify programs that accommodate your ratio.
In many cases, yes — but waiting periods apply. Conventional loans typically require 2–7 years
post-bankruptcy or foreclosure depending on the type. FHA loans have shorter waiting periods. Some
Non-QM programs have reduced or no waiting periods. We’ll assess your eligibility based on your
specific circumstances.
No. You can apply individually or jointly. Applying together may increase your qualifying income, but
may also include a lower credit score if there’s a significant disparity. We’ll model both scenarios and
recommend the approach most likely to produce the best outcome.
No — and we’d caution any lender who gives you a rate quote without reviewing your credit, income,
property details, and loan structure. Rates are determined by a combination of market conditions, your
credit profile, loan-to-value ratio, loan type, and lender-specific pricing. We’ll present actual rates from
real lenders once we have a complete picture of your situation.
Closing costs typically range from 2–5% of the loan amount, depending on the transaction type,
location, and loan program. They include lender fees, third-party fees (title, escrow, appraisal), and
prepaid items (insurance, property taxes). We provide a detailed Loan Estimate early in the process so
you know what to expect before committing.
Some programs allow seller concessions toward closing costs (FHA, VA, conventional — each with
limits). There are also no-closing-cost loan structures where costs are offset through a lender credit.
These options involve trade-offs that we’ll explain clearly.
Discount points are an upfront payment to a lender in exchange for a lower interest rate — 1 point equals
1% of the loan amount. Whether buying points makes sense depends on your break-even timeline and
how long you plan to keep the loan.
No. The interest rate is the cost of the loan principal expressed as a percentage. The APR includes the
interest rate plus most fees, expressed as a yearly rate. APR provides a more complete picture of total
loan cost and is used for comparison purposes.
Most purchase and refinance applications require: two years of federal tax returns, W-2s or 1099s,
recent pay stubs (30 days), two months of bank statements, government-issued ID, and the executed
purchase contract (for purchase transactions). A full checklist is on our Document Checklist page.
For standard conventional and government-backed loans, yes — two years of business and personal
returns. For bank statement loans and other Non-QM programs, tax returns are not required; instead,
lenders review 12–24 months of bank statements to assess income.
Most lenders require the two most recent full months of statements for all accounts. Statements must be
complete — all pages — even blank ones. If you’ve had large deposits, you may need to document the
source.
We work hard to minimize repetitive document requests. Once you’ve submitted your initial package,
most requests from lenders can be handled efficiently. Some lenders may require updated documents if
the process extends beyond 60–90 days.
We accept documents through our secure online portal, encrypted email, or in person at our Irvine
office. We do not recommend sending sensitive financial documents via standard unencrypted email.
Your advisor will provide instructions on the most secure method.
West Capital Lending has the capacity to close in as few as 5 days in scenarios where all documentation
is complete and the lender is aligned. Most transactions close within 21–30 days. Timeline depends on
loan type, documentation readiness, appraisal requirements, and lender workload.
Common delays include: incomplete documentation, appraisal scheduling, title issues on the property,
lender underwriting backlogs, and outstanding conditions that take time to clear. Our team proactively
tracks your file and flags issues early to minimize delays.
We typically have an initial review completed within 24–48 business hours of receiving a complete
application. Lender submission and feedback timelines vary but most lenders provide initial approvals
within 3–7 business days.
Rate locks are typically 15–45 days, though longer locks are available (often at a cost). We’ll advise on
optimal lock timing based on your expected closing date and market conditions. We cannot guarantee a
specific rate, but we can help you understand your options.
A conditional approval means the lender has approved your loan subject to specific outstanding items. A
clear to close means all conditions have been satisfied and the lender has authorized funding. Closing is
typically scheduled within 1–3 business days of receiving the clear to close.