Frequently asked questions

Pre-qualification is a quick estimate based on what you tell us. A pre-approval means we have pulled credit and reviewed income and asset documents, so sellers take it seriously. Harborview can also fully underwrite your file before you make an offer.

Our online pre-qualification uses a soft credit check that does not affect your score. A hard inquiry only happens when you ask for a full pre-approval, and multiple mortgage inquiries within 45 days count as one.

Usually two recent pay stubs, two years of W-2s, two months of bank statements, and a photo ID. Self-employed borrowers add two years of tax returns. Your loan officer sends a personalised list so you only upload what is needed.

Most pre-approvals are issued the same business day once documents are in. Fully underwritten approvals take about 48 hours.

The interest rate sets your monthly principal and interest payment. APR includes the rate plus certain fees, such as points and lender charges, spread over the loan's life, so it is better for comparing offers.

Most buyers lock once they have a signed purchase and sale agreement. Refinance borrowers lock when the break-even math works. Standard locks are 30 to 60 days; we offer a one-time float-down if rates fall meaningfully before closing (sample policy).

Plan for roughly 2% to 4% of the purchase price, including lender fees, title insurance, attorney fees, recording fees and prepaid taxes and insurance. We give you a Loan Estimate within three business days of application.

Points lower your rate in exchange for upfront cost. They make sense if you will keep the loan long enough to pass the break-even point, often five to seven years. We show you both options.

As little as 0% for VA and USDA, 3% for conventional first-time buyers and 3.5% for FHA. Putting 20% down on a conventional loan avoids mortgage insurance.

FHA starts at 580, conventional at 620, VA at 600 with Harborview and jumbo at 700. Higher scores unlock better pricing, and we offer free credit coaching if you are not quite there.

Yes. Conventional, FHA and VA loans all finance 2 to 4 unit homes when you live in one unit, and projected rental income can help you qualify.

Harborview is licensed in Massachusetts, New Hampshire, Rhode Island, Connecticut and Maine (demo licensing). See our licensing page for details.

Our average purchase closes in 24 days from contract. Jumbo and reverse mortgages can take 30 to 45 days.

Massachusetts closings are conducted by a closing attorney. We coordinate with your attorney and title company so documents are ready on time.

Do not open new credit cards, finance furniture or a car, change jobs or move large sums of money without talking to your loan officer first. Each can delay or change your approval.

Most purchase loans require one. Some conventional refinances and purchases with strong equity qualify for an appraisal waiver.