Mortgage Questions
Frequently Asked Questions
Answers to common questions about home loans, pre-approvals, and the mortgage process — in plain language.
What states does Innovative Home Loan serve?
Jason Seibel is licensed in California, Washington, Texas, Florida, Massachusetts, New York, Oregon, Idaho, Tennessee, and South Carolina. If you're in another state, reach out — we may be able to refer you to a trusted partner.
How fast can I get pre-approved?
Most pre-approvals are completed within the same business day. Jason reviews your application personally and gives you a real answer quickly — no waiting on committees or call centers.
What is the minimum down payment for a home loan?
It depends on the loan type. Conventional loans can go as low as 3% for qualifying first-time buyers and 5% for repeat buyers. FHA loans require 3.5% down. VA loans require zero down payment for eligible veterans and service members. Investment properties typically require 15-25%.
Do you offer VA loans?
Yes. VA loans are available for eligible veterans, active-duty service members, and surviving spouses. The key benefits are no down payment required, no private mortgage insurance (PMI), and competitive interest rates. Jason works with many veteran buyers and understands the VA loan process well.
Can I get a mortgage if I'm self-employed?
Yes. We offer bank statement loan programs and alternative income documentation options specifically for self-employed borrowers, business owners, freelancers, and gig workers who may not have traditional W-2 income. Instead of tax returns, we can use 12-24 months of bank statements to document income.
What is a jumbo loan?
A jumbo loan is a mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac — typically over $766,550 in most areas (higher in high-cost markets like California). Jumbo loans are used for higher-priced homes and generally require stronger credit, more cash reserves, and a larger down payment.
What is the difference between a fixed-rate and adjustable-rate mortgage?
A fixed-rate mortgage locks in your interest rate for the life of the loan — your payment stays the same every month. An adjustable-rate mortgage (ARM) starts with a fixed rate for an initial period (like 5 or 7 years) then adjusts periodically based on market rates. ARMs can be a good fit if you plan to sell or refinance before the adjustment period.
How does a refinance work?
Refinancing replaces your existing mortgage with a new one. Common reasons include lowering your interest rate, reducing your monthly payment, shortening your loan term, or pulling cash out of your home equity for renovations or other needs. We'll help you determine whether the numbers make sense for your situation.
What documents do I need to apply for a home loan?
Typically: two years of W-2s or tax returns (or bank statements for self-employed), recent pay stubs, two months of bank statements, a copy of your driver's license, and information on any outstanding debts. The exact list depends on your loan type and situation — Jason will walk you through exactly what's needed.
How do I get started?
Contact Jason directly at jason@innovativehomeloan.com or call (503) 720-3730. You can also use the contact form on the homepage. Jason responds personally — usually the same day — and the first conversation is just about understanding your situation and goals, no pressure.
Jason Seibel | NMLS #171895 | Innovative Home Loan. Licensed in CA, WA, TX, FL, MA, NY, OR, ID, TN, SC. This page is for informational purposes only and does not constitute a loan commitment or guarantee of terms.