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Frequently Asked Questions

Find clear, honest answers to the most common questions about
mortgages, refinancing, and home loans.

Jumbo loans apply to any mortgage that exceeds the current conforming limit — typically $766,550 in most U.S. counties (and higher in select high-cost areas).
Jumbo loans aren’t backed by Fannie Mae or Freddie Mac, so they allow for larger loan amounts and more flexible underwriting — ideal for high-value properties.
Yes, most jumbo loans require 10–20% down, depending on your financial profile. We’ll help you find the most affordable option.
Absolutely. You can refinance a jumbo loan later to adjust your rate, loan term, or cash out equity as your property value grows.
FHA loans allow qualified borrowers to purchase a home with as little as 3.5% down, provided you have a credit score of 580 or higher. Those with slightly lower credit may still qualify with a 10% down payment.
Yes. FHA loans are designed to help borrowers with less-than-perfect credit. Even if you’ve had a bankruptcy or missed payments in the past, you may still qualify after showing a history of on-time payments and financial stability
No. While they’re popular among first-time buyers, any qualified borrower can use an FHA loan — whether you’re purchasing a new home or refinancing an existing FHA mortgage.
Absolutely. You can take advantage of the FHA Streamline Refinance program to lower your interest rate, reduce monthly payments, or remove mortgage insurance — often without an appraisal or income verification.
Most buyers can qualify with as little as 3% down, depending on income and credit score. A larger down payment may help you avoid private mortgage insurance (PMI).
PMI is only required if you put down less than 20%. Once your equity reaches 20%, PMI can be removed — unlike with FHA loans.
Yes. You can use gift money from family or approved sources toward your down payment and closing costs.
Conventional loans typically offer more flexibility, lower long-term costs, and no upfront mortgage insurance premium. They’re ideal for borrowers with good credit and stable finances.
VA loans are available to veterans, active-duty service members, National Guard members, reservists, and eligible surviving spouses. You’ll need a Certificate of Eligibility (COE) to confirm your qualification — our team can help you obtain it quickly.
Yes, the VA requires a one-time funding fee, which helps keep the program running. The amount depends on factors like your down payment and whether it’s your first VA loan. In many cases, this fee can be rolled into your loan amount or waived for disabled veterans.
Absolutely. You can reuse your VA loan benefits as long as your previous VA loan has been paid off or your entitlement is restored. Many veterans use their VA benefits multiple times throughout their lives.
Not at all. VA loans are available for both first-time and repeat homebuyers, as well as for refinancing an existing VA or conventional mortgage into better terms.
You can finance single-family homes, condos, townhouses, and 1–4 unit multi-family properties. Larger buildings or commercial properties may require alternative financing — we can guide you to the right product.
Yes. Lenders can often count a portion of expected rental income from the property to help you qualify — as long as it’s supported by a lease or appraisal showing fair market rent.
Typically, yes — investment property loans carry slightly higher rates due to increased lending risk. However, with strong credit and a solid down payment, Rush Lending can help you secure competitive investor-friendly terms.
Absolutely. Refinancing can help you lower your rate, free up cash, or access equity for future investments. Many of our clients refinance to scale their portfolios faster.
The best time is when interest rates are lower than your current rate or when you need to access home equity for major expenses. We’ll help you analyze your numbers to see how much you can save each month.
Yes, it’s possible. FHA refinance programs, in particular, offer options for homeowners with lower credit scores or limited equity. We’ll find the solution that fits your profile.
Not always. Many of our refinance programs — especially FHA Streamline and VA IRRRLs (Interest Rate Reduction Loans) — allow no-appraisal refinancing for a faster, simpler process.
Absolutely. A cash-out refinance lets you tap into your home’s equity to fund renovations, pay off debt, or cover large expenses — while potentially lowering your interest rate.

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