Mortgage Resources

Credit score requirements vary by loan type. FHA loans typically require a minimum score of 580 (with 3.5% down) or 500 (with 10% down). Conventional loans generally require 620–680 or higher for better rates. VA and USDA loans have flexible requirements. At Mylo Mortgage, our loan officers will review your specific situation and explore options tailored to your profile.

The mortgage approval process typically takes 30–45 days from application to closing. This includes pre-qualification, documentation review, underwriting, appraisal, and final loan approval. Mylo Mortgage uses SimpleNexus technology to streamline this process and keep you updated every step of the way. Our team works efficiently to meet your timeline while maintaining thorough compliance.

Closing costs typically range from 2–5% of your loan amount and cover fees like appraisals, title insurance, origination fees, and underwriting charges. Your Loan Estimate will break down all costs in detail before you commit. Mylo Mortgage provides transparent pricing and works with you to explore options like lender credits or no-closing-cost programs that may be available based on your situation.