Question 1

How do I know if I'm ready to buy a home?

Accepted Answer

You may be ready when you have stable income, some savings for a down payment (even 3% can work), and a reasonable debt-to-income ratio. The best way to find out is to get pre-approved—it's free, takes about 20 minutes, and gives you a clear picture of what you can afford.

Question 2

What's the first step in getting a mortgage?

Accepted Answer

The first step is getting pre-approved. This involves a quick application and document review. Pre-approval shows sellers you're serious and tells you exactly how much home you can afford. Contact us to start—we often have answers within 24 hours.

Question 3

How much money do I need for a down payment?

Accepted Answer

Less than you might think! Conventional loans can go as low as 3%, FHA loans require just 3.5%, and VA/USDA loans offer 0% down for eligible borrowers. We'll help you explore down payment assistance programs that could reduce your out-of-pocket costs.

Question 4

What credit score do I need to buy a home?

Accepted Answer

It depends on the loan type. FHA loans work with scores as low as 580. Conventional loans typically require 620+. VA loans are flexible. Don't let your credit stop you from reaching out—we've helped many borrowers with less-than-perfect credit.

Question 5

How long does it take to close on a mortgage?

Accepted Answer

Most loans close in 25-30 days from application to keys. Some can close faster (especially refinances), while complex situations may take a bit longer. We keep you updated throughout and work to close as quickly as possible.

Question 6

What documents will I need to apply?

Accepted Answer

Typically: pay stubs (last 30 days), W-2s (last 2 years), tax returns (last 2 years), bank statements (last 2-3 months), and ID. Self-employed borrowers may need additional documentation. We'll provide a complete checklist.

Question 7

What happens during underwriting?

Accepted Answer

Underwriting is when a specialist reviews your complete file to ensure everything meets the loan requirements. They may ask for additional documents or clarification—this is normal! We guide you through any conditions and work to get final approval quickly.

Question 8

What are closing costs and how much should I expect?

Accepted Answer

Closing costs cover things like appraisal, title insurance, and loan origination. They typically run 2-5% of the loan amount. We provide a detailed estimate upfront so there are no surprises, and sometimes we can negotiate to have the seller cover some costs.

Question 9

What's the difference between FHA and conventional loans?

Accepted Answer

FHA loans are government-backed with lower credit requirements (580+) and lower down payments (3.5%), but require mortgage insurance for the life of the loan. Conventional loans need higher credit (620+) but allow you to drop mortgage insurance once you have 20% equity.

Question 10

Do I qualify for a VA loan?

Accepted Answer

VA loans are available to active-duty military, veterans with qualifying service, National Guard/Reserve members, and certain surviving spouses. They offer 0% down and no PMI—incredible benefits! Contact us to check your eligibility.

Question 11

Should I get a fixed-rate or adjustable-rate mortgage?

Accepted Answer

Fixed-rate mortgages lock in your rate forever—great for long-term stability. ARMs start with lower rates that adjust later—potentially good if you plan to move or refinance within a few years. We'll discuss which makes sense for your situation.

Question 12

Can I get a loan if I'm self-employed?

Accepted Answer

Absolutely! We specialize in helping self-employed borrowers. While you may need additional documentation (bank statements, profit/loss statements), we have flexible programs designed specifically for business owners and freelancers.

Question 13

When does it make sense to refinance?

Accepted Answer

Consider refinancing when: you can lower your rate by 0.5-1%+, you want to switch from an ARM to fixed rate, you need to access equity for renovations or debt consolidation, or you want to remove PMI. We'll run the numbers to see if it makes sense for you.

Question 14

How much equity do I need to refinance?

Accepted Answer

Most refinances require at least 20% equity to avoid PMI. Cash-out refinances typically need you to maintain 20% equity after the transaction. VA streamline refinances can work with less equity for eligible veterans.

Question 15

Will I need another appraisal to refinance?

Accepted Answer

Usually yes, but some streamline programs (VA IRRRL, FHA Streamline) may not require a new appraisal. We'll let you know what applies to your situation.

Question 16

Why should I work with The Chacon Team?

Accepted Answer

We're local, we're responsive, and we actually care. Unlike big banks, you work directly with Christian Peter and our team—not a call center. We find solutions when others can't, we're available evenings and weekends, and we guide you personally through every step.

Question 17

Do you charge for consultations or pre-approvals?

Accepted Answer

Consultations and pre-approvals are completely free with no obligation. We believe in earning your business by providing value and answering your questions.

Question 18

What areas do you serve?

Accepted Answer

We're based in San Antonio and serve the entire Hill Country region including Boerne, New Braunfels, Schertz, Seguin, and surrounding areas. We're licensed throughout Texas, so if you're buying anywhere in the state, we can help.

Question 19

How do I get started?

Accepted Answer

Easy! Give us a call at (210) 468-0107, fill out our contact form, or start an application online. We typically respond within a few hours and can often have you pre-approved within 24 hours.

Frequently Asked Questions

Getting Started

The Mortgage Process

Loan Types & Options

Refinancing

Working With Us

Still Have Questions?