Roanoke, VA · Lakeland, FL 540.314.8843 jsweat@ihmcloans.com
FAQ & Contact

Answers, calculators,
and a real human on the other end.

First-time home buyer in Virginia? Refinancing in Florida? We answer the way we wish more lenders would.

NMLS #308553 · Licensed in VA + FL · Best of Roanoke 2023
Mortgage FAQ

The questions buyers actually ask, before they get to closing.

If your question is not below, send us a message. We answer every one of them, and there is no such thing as a dumb mortgage question. Why we don't do pre-quals →

How long does the mortgage process take?

Pre-approval is typically issued within 24 to 48 hours once your documents are in. From contract to close, plan on 21 to 30 days for most files.

Cleaner files close faster. Self-employed borrowers, complex income, or repair-conditioned appraisals can extend the timeline a few days. We tell you up front where your file sits and what would speed it up. Start your application →

What does a first time home buyer in Virginia need to know?

Start with a real pre-approval, not a pre-qualification. Realtors in the Roanoke Valley will not write your offer with a soft pre-qual letter, and sellers know the difference.

Then layer in the programs built for a first time home buyer in Virginia:

  • USDA for rural and small-town Virginia, zero down for eligible properties
  • FHA with 3.5 percent down and lenient credit
  • VA for service members, veterans, and qualifying spouses, zero down
  • Virginia Housing down-payment and closing-cost assistance, often stackable

We map your eligibility before you ever shop a house. See all loan programs →

How much do I need for a down payment?

It depends on the program.

  • 0 percent: VA and USDA loans for eligible borrowers
  • 3 percent: Conventional first-time-buyer programs
  • 3.5 percent: FHA
  • 5 to 10 percent: Conventional non-FTHB
  • 10 to 20 percent or more: Jumbo and investor loans

Many borrowers also stack down-payment assistance on top of their loan program. We will tell you which combinations actually work for your file.

What is the difference between pre-approval and pre-qualification?

A pre-qualification is a soft-touch estimate based on what you tell the lender. A pre-approval is what we issue: full underwriting before you offer. Income, assets, credit, and debt are all reviewed by a real underwriter, not just a calculator. That is why Realtors trust the letter when offers get tight.

Read the full difference →

What documents do I need to apply?

The core stack for a W-2 borrower:

  • Two years of W-2s
  • Last 30 days of pay stubs
  • Two years of federal tax returns
  • Two months of bank statements (all pages)
  • Government-issued ID

Self-employed borrowers add a year-to-date P&L and business returns. Veterans add the DD-214 and Certificate of Eligibility. We will send you a personalized list once we talk. Start the application →

Can you lend in Florida if I'm in Virginia?

Yes. We are dual-state licensed in Virginia and Florida (NMLS #308553, VA #MLO-5807VA, FL #LO110533). A large share of our pipeline is Virginians buying second homes or relocating to Lakeland, Tampa, and Polk County. We close the loan from the same team you started with, in either state.

Will applying hurt my credit score?

A mortgage credit pull is a hard inquiry, but the impact is small, typically 5 to 10 points and temporary. Mortgage shopping inside a 45-day window counts as one inquiry on most scoring models, so you can compare lenders without compounding the hit.

Far less damaging than skipping pre-approval and losing the house you wanted because your offer wasn't credible.

What if I'm self-employed or have unusual income?

We have programs for that. Bank-statement loans, profit-and-loss-only programs, asset-depletion loans, and bridge financing all live in our toolkit. If your income is real, there is almost always a path. Send us your situation and we will tell you which lane fits.

A Real Person

Not a call center. The same team, start to finish.

Calculators

Run the numbers before you talk to a lender.

These three calculators answer the questions we get asked most. They are placeholders here, but every one ships live on the WordPress build. Use them to sanity-check a price range before you start shopping.

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Mortgage Payment Calculator

What does the monthly payment actually look like with taxes and insurance?

Estimated payment $2,792 / mo

Live calculator ships in WP build. Powered by [calculator service TBD].

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Affordability Calculator

How much home can I afford on my income, with my debts and goals?

You could afford ~ $385,000

Live calculator ships in WP build. Powered by [calculator service TBD].

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Rent vs Buy Calculator

When does buying actually beat renting in your specific market and timeframe?

Buying wins by ~ $42,000

Live calculator ships in WP build. Powered by [calculator service TBD].

Contact

Tell us where you are. We'll meet you there.

Use the form for anything: pre-approval, loan questions, a Realtor referral, or just a sanity check. We answer every message personally, usually inside one business day.

Send us a message

No drip campaigns. No bots. Real reply from a real human.

By submitting, you agree to be contacted by Jonathan Sweat & The Legacy Team about your inquiry. We do not share or sell your information. Standard NMLS-compliant disclosures apply.

Areas served

Two states. Same team.

Licensed and lending across the Roanoke Valley and the I-4 corridor.

VA Virginia
  • Roanoke
  • Salem
  • Blacksburg
  • Botetourt
  • Franklin Co.
FL Florida
  • Tampa
  • Lakeland
  • Polk Co.
  • Hillsborough
  • Winter Haven
Equal Housing Lender Verified · NMLS Consumer Access
Jonathan Sweat · NMLS #308553 · Branch NMLS #2644421 · Virginia MLO #5807VA · Florida LO #110533. Verify license and registration at the NMLS Consumer Access website.
Verify NMLS

Want federal-level homebuyer education? The CFPB is the gold standard.

The Consumer Financial Protection Bureau publishes the most rigorous, vendor-neutral homebuyer education in the country. We send first-time buyers there before they ever sign a thing. Read the loan-estimate explainer. Read the closing-disclosure explainer. Then come back and we'll walk through your specific numbers.

Got a specific question?

Don't wait for the perfect moment. Just ask.

Whether you are 30 days from offer or 18 months out, we'd rather hear from you early. No pressure, no drip campaign, no obligation. Just a real answer from a real human.

Prefer to call? 540.314.8843