FAQ
Ask anything. Seriously.
The questions Debbie hears most, answered the way she answers them — directly. Don't see yours? Text it over.
💵 Money questions
How much down payment do I need?
It depends on the program: conventional loans start at 3% down for first-time buyers, FHA at 3.5%, and VA and USDA can be 0% down for eligible borrowers. Minnesota down payment assistance can help cover it, too.
What credit score do I need to buy a home?
Many programs work with scores in the 600s, and some FHA scenarios go lower. If your score needs work, Debbie can tell you exactly what would move it most.
What are closing costs and who pays them?
Roughly 2–4% of the loan amount, covering appraisal, title, recording, and prepaid taxes and insurance. Buyers usually pay them, but sellers can contribute, and assistance programs can help.
Should I wait for rates to drop?
Nobody can time the market — and waiting has costs too, if prices rise while you rent. The better question is whether the payment works for your budget today. If rates drop later, refinancing is always on the table.
🗺️ Process questions
How long does it take to close on a house?
Typically three to four weeks from accepted offer to keys, sometimes faster. Pre-approval before you shop is what keeps the timeline smooth.
What's the difference between pre-qualification and pre-approval?
Pre-qualification is an estimate based on what you tell a lender. Pre-approval means your documents were actually reviewed — and that’s the letter sellers take seriously.
What documents will I need?
Usually recent pay stubs, W-2s or tax returns, bank statements, and ID. Self-employed borrowers add business returns. Debbie gives you a simple checklist up front.
Do I need a realtor before talking to a lender?
No — talking to Debbie first is actually the better order. Your pre-approval defines your budget, which makes house hunting focused instead of heartbreaking.
🔑 Reverse mortgage questions
Do I give up ownership of my home with a reverse mortgage?
No. You keep the title. A HECM is a loan against your equity — you stay the owner, and you stay in your home as long as it remains your principal residence and you keep up taxes, insurance, and maintenance.
Will my kids inherit my reverse mortgage debt?
No — a HECM is non-recourse. Neither you nor your heirs can owe more than the home is worth when it's sold to repay the loan, and heirs can choose to keep the home by paying off the balance.
How much can I get from a reverse mortgage?
It depends on your age, your home’s value, current rates, and any existing mortgage balance. Debbie can run your exact numbers in one conversation.
Is reverse mortgage counseling really required?
Yes — every HECM borrower completes an independent session with a HUD-approved counselor before applying. It’s a consumer protection, and Debbie thinks it’s one of the best parts of the program.
🤝 Working with Debbie
What does it cost to talk to Debbie?
Nothing. Conversations, pre-approvals, and honest opinions are free. You only ever pay loan costs if you actually close a loan.
What areas does Debbie serve?
Debbie is based in Sartell and serves the greater St. Cloud area and communities across Minnesota — Sartell, St. Cloud, Sauk Rapids, Waite Park, St. Joseph, and beyond.
What's the fastest way to reach Debbie?
Text her at 320-980-3302. Texting gets the fastest response — and yes, it's really her.
Your question deserves a real answer.
Text Debbie — she answers her own messages.