Frequently asked questions

Most lenders, including Priority Home Mortgage, typically ask for recent pay stubs, W-2s or tax returns for the past two years, bank statements, a government-issued ID, and information about any other debts or assets you hold. Self-employed borrowers may need additional documentation, such as profit-and-loss statements.

Down payment requirements vary by loan program. Conventional loans may allow as little as 3% down, FHA loans typically require 3.5%, and VA and USDA loans can offer 0% down for eligible borrowers. Jumbo loans generally require a larger down payment.

Pre-qualification is an informal estimate of what you might be able to borrow based on information you provide, while pre-approval involves a lender verifying your income, credit, and assets to issue a more reliable, conditional loan commitment you can use when making an offer on a home.

A typical mortgage takes about 30 to 45 days from application to closing, though the exact timeline can vary depending on the loan program, how quickly documentation is provided, and the complexity of the transaction.

Priority Home Mortgage offers a wide range of loan programs, including Conventional, FHA, VA, USDA, Jumbo, Non-QM, Self-Employed, and 2-1 Buydown loans for purchases, along with Cash-Out Refinance, Mortgage Refinance, HELOC, and Reverse Mortgage options. A full list of programs is available on our Loan Programs page.

Priority Home Mortgage is based in Grand Rapids, Michigan (NMLS #103098) and works with clients throughout West Michigan, and our licensing extends to many additional states. Visit our Company State Licenses page for a full list of states we are licensed in.