Question 1

When is Voyage Home Loans open?

Accepted Answer

Email, text, or call us any day of the week (team@voyagefinancing.com, 414-206-3812). Our weekday hours are from 8AM–9PM CT, weekends from 9AM–6PM CT. We are closed on New Year's Day, Martin Luther King Jr Day, Memorial Day, Juneteenth, Independence Day, Labor Day, Veteran's Day, Thanksgiving Day, and Christmas Day. If you need us on Halloween, we'll be there, with plenty of candy.

Question 2

Where does Voyage Home Loans offer mortgages?

Accepted Answer

Voyage Home Loans is licensed as a mortgage broker in Wisconsin, Iowa, & Florida. Additional states will be added as we expand. NMLS# 2667229

Question 3

What credit score do I need for a mortgage?

Accepted Answer

Voyage Home Loans supports homebuyers with a minimum credit score of 580. While a higher score often secures better rates, our flexible requirements help a wider range of buyers qualify.

760–850 (Excellent): Qualify for the lowest possible market interest rates and most favorable terms.
700–759 (Very Good): Access highly competitive rates, typically just slightly above the top tier.
620–699 (Fair to Good): Eligible for most conventional loans, though you may pay more for PMI and higher interest.
580–619 (Building Credit): Primarily limited to FHA or VA loan products.

Question 4

Can I update the home price or loan amount on my pre-approval letter?

Accepted Answer

Yep! That's one of the great things about our pre-approvals. We make it easy for you to edit your pre-approval application any time, day or night. Ready to make an offer? You can reduce the amount on your pre-approval letter to match your offer to avoid showing your hand to the seller. Just log in and make the change.

Question 5

How will getting pre-approval affect my credit?

Accepted Answer

A hard credit check is a critical part of getting a mortgage. It helps us confirm your eligibility. The impact of a mortgage hard credit check is low (typically 3–8 points), is temporary (typically 12 months), and is usually the same no matter how many other mortgage hard credit checks you get in a 30-day period.

Question 6

Does my pre-approval letter expire?

Accepted Answer

Pre-approval letters expire after 120 days. If your financial situation changes before then, you may also need an updated letter. The good news is that it's easy to renew them, and we're here to help you do so any time.

Question 7

Is my rate on my pre-approval letter the rate I will get for my loan?

Accepted Answer

It depends. Mortgage rates change every day, and rates will most likely have changed by the time you go under contract. A Loan Advisor will talk to you about locking your rate.

Question 8

Can you keep my agent updated on the status of my loan?

Accepted Answer

Of course. We'll supply your Loan Advisor with your agent's name and contact info early on so we can keep them updated as you progress with your application. We're one team after all.

Question 9

How much down payment do I need?

Accepted Answer

The minimum down payment is 3% for conventional loans, 3.5% for FHA loans, or 0% for VA loans. Putting down 20% or more eliminates PMI (saves $100–300/month on a $400k loan) and lowers your interest rate by 0.25–0.5%. Your exact requirement depends on credit score, loan type, and property use.

Question 10

What counts as a down payment?

Accepted Answer

You can use multiple types of assets: savings, checking, or CD accounts; stocks and bonds; cryptocurrency (must be converted to USD before closing); proceeds from selling your current home; retirement accounts (401k withdrawals or loans); and gift funds from family members. If you have another asset type, reach out—we can likely work with it.

Question 11

What should I look for when comparing mortgage offers?

Accepted Answer

Ask a lender for a Loan Estimate—every lender must provide one within 3 business days of your application. Focus on: interest rate and APR (Page 1), closing costs (Page 2, Section J), and lender fees (Page 2, Section A)—Voyage Home Loans charges $0, saving you ~$2,000. Don't just compare rates; lenders with lower rates often charge higher fees.

Question 12

What mortgage rate can I get?

Accepted Answer

Your mortgage rate is primarily determined by your credit score, down payment, and market conditions. 760+: Lowest available rates. 720–759: ~0.25–0.5% higher. 700–719: ~0.5–0.75% higher. 680–699: ~0.75–1% higher. Putting down 20%+ typically reduces your rate by another 0.25–0.5%.

Question 13

How do points and credits affect my rate?

Accepted Answer

Points and credits let you trade upfront costs for a different rate. Discount points: Pay more upfront, get a lower rate (1 point = 1% of loan amount = ~0.25% lower rate). Lender credits: Get closing cost help, accept a slightly higher rate. We help you decide based on how long you plan to own the home.

Question 14

Does Voyage Home Loans charge pre-payment penalties?

Accepted Answer

No. Voyage Home Loans does not charge prepayment penalties on any of its loan products. Borrowers are free to pay off their mortgage balance in full or make extra principal payments at any time without incurring additional fees.

Question 15

How does my credit score affect my mortgage rate?

Accepted Answer

Your credit score is a primary factor in determining your interest rate. 760+ (Excellent): Lowest available rates. 720–759 (Very Good): Highly competitive rates, slightly higher than top tier. 700–719 (Good): Standard market rates. 680–699 (Fair): Higher rates and potentially higher PMI. 620–679 (Below Average): Minimum range for most conventional loans, often the highest rates.

Question 16

What factors affect my mortgage interest rate?

Accepted Answer

Beyond credit score: Down Payment (larger down payments reduce risk and can lower your rate), Loan Amount & Term, Debt-to-Income Ratio (DTI), Property Type and Occupancy (single-family vs. condo, primary vs. investment), and Market Conditions (inflation, Federal Reserve policy, bond market dynamics).

Question 17

What loan types does Voyage Home Loans offer?

Accepted Answer

Voyage Home Loans offers Conventional Loans (most common, at least 3% down), FHA Loans (government-backed, ideal for first-time buyers or lower credit scores, 3.5% down), VA Loans (no down payment for eligible veterans and service members), and Jumbo Loans (high-balance mortgages for luxury properties exceeding conforming loan limits).

Question 18

What are Voyage Home Loans fees?

Accepted Answer

Voyage Home Loans charges $0 in lender fees—no origination, processing, or underwriting fees. This saves you an average of $2,000 compared to traditional lenders. You only pay required third-party costs like appraisal ($500–800) and title insurance.

Question 19

How much are closing costs?

Accepted Answer

Closing costs typically range from 2% to 5% of your loan amount, averaging around 3% (~$12,000 on a $400k loan). This includes third-party costs (appraisal, title insurance, credit report), prepaid taxes and insurance, escrow deposits, and any points or credits. Voyage Home Loans saves you ~$2,000 by eliminating lender fees.

Question 20

How fast can Voyage Home Loans close?

Accepted Answer

Voyage Home Loans can close a home loan in as little as 12 to 21 days, significantly outperforming the industry average of 42 days. This speed gives buyers a competitive advantage in hot markets, ensuring they can meet tight contract deadlines that traditional lenders often miss.

Question 21

When should I lock my mortgage rate?

Accepted Answer

Lock your rate as soon as you're under contract. Voyage Home Loans typically closes in 12–21 days vs. the 42-day industry average, so a standard 30–60 day rate lock covers your entire timeline. Since rates change daily (sometimes multiple times), locking immediately after your offer is accepted protects you from increases.

Question 22

What if rates drop after I lock?

Accepted Answer

If rates go up after you lock, you're protected—your locked rate stays the same. If rates drop by at least 0.25% before closing, Voyage Home Loans' float-down program lets you take advantage of the lower rate. Your Loan Advisor will monitor market rates and help you secure the best available rate. (Voyage Home Loans requires a minimum of 12 days to move your loan to take advantage of the 0.25% rate drop.)

Question 23

Does Voyage Home Loans match rates from other lenders?

Accepted Answer

Yes, Voyage Home Loans offers a Price Match Guarantee. If you receive a better price from another lender, we'll match it. Bring us a competitor's Loan Estimate and we'll review it to ensure you're getting the best deal. This applies to both interest rates and closing costs.

Question 24

How do I get Voyage Home Loans' rate match guarantee?

Accepted Answer

Submit a valid Loan Estimate from another lender dated within one business day of when you send it to Voyage Home Loans. The Loan Estimate must include the competing lender's contact information. Requirements: primary residences only, one price match per loan, and the Loan Estimate must be comparable (same loan amount, term, and property type).

Frequently Asked Questions

About Voyage Home Loans

Pre-Approval & Eligibility

Down Payment & Assets

Loan Products & Rates

Closing & Costs

Rate Lock & Protection

Still have questions?