Ready to Buy your Dream Home?
Do I Qualify?
When you apply for a mortgage, lenders calculate how much you can safely borrow by reviewing your monthly income and current financial commitments. They compare your expected housing payment plus existing monthly debts against your gross income. This ratio, known as your Debt-to-Income (DTI), helps determine eligibility and loan amount. Each loan program has its own DTI limits, so your qualifying range may vary based on the type of financing you choose.
Click the button below, and you will be redirected to Dave Hollman’s website who is expert loan originator.
About Dave Hollman
As a trusted mortgage professional in Salem, Oregon, my mission is simple: help you purchase a home with clarity and confidence. We don’t just offer competitive mortgage rates — we deliver fast approvals, transparent communication, and a smooth process from pre-approval to closing.
Home financing can feel overwhelming, but with local expertise and the right guidance, it becomes straightforward. If you’re buying in Salem or the surrounding Willamette Valley areas, I’m here to support you every step of the way.
Ready to get pre-approved? Let’s make homeownership in Salem your reality.
How It Works
Your pre-approval process, simplified for Salem homebuyers.
Quick Online Application
Share basic financial info and home goals. Takes just a few minutes.
Personalized Review
Dave reviews your info, verifies income & credit, and finds the best loan options for your situation.
Get Pre-Approval Letter
Receive a pre-approval letter you can use immediately when you find the right home.
The Loan Process
Step one begins with contacting a local Envoy Loan Originator.
During your conversation, your Envoy loan originator will discuss your credit, income and any debts to establish affordability as well as what loan programs are available to you. Envoy will then issue a letter stating the loan amount for which you pre-qualify.
(Getting pre-qualified means a lender has given you an estimated mortgage amount based on a general look at your finances.)
You will be asked to provide a number of supporting documents such as W2’s, Pay Stubs, Bank Statements and Employment History. Once your loan originator has received your application and the supporting documentation, the file is handed to our processing department.
(Getting pre-approved means you start the loan process early-on by submitting your documents to an Envoy underwriter.)
In addition, the processor will review your credit report, order an appraisal, title commitment and other third-party information. If problems or questions arise regarding the information you provided, our processors will work with you to get the correct information.
Once processed, one of our underwriters will examine the file to certify that it conforms to industry standards and that the appraisal, survey, title commitment and other documentation are acceptable.
More people are benefitting from pre-approvals over just pre-qualifications because it saves you time, money and gives you better negotiating power. You can now contact your realtor to begin your home search!
FAQ
Got a question about mortgages?
APPLYING AND PREQUALIFICATION
A: To help you get a mortgage loan, mortgage lenders require information related to your employment, finances and information about the home you wish to purchase. They will ask you specific, detailed information about these topics so that they can arrive at a monthly payment that you can afford and will be able to sustain.
A: Yes! This is considered a pre-qualification or pre-approval, and obtaining a pre-qualification or pre-approval before you find a home is a smart choice. Once completed, we will issue a letter stating that you have been pre-qualified or pre-approved subject to you finding your new home. You can use the letter to reassure Real Estate Brokers and sellers that you are a qualified buyer. The pre-qualification process helps ensure that you are looking in the right price range to comfortably fit in your budget and can be completed quickly by your loan originator.
A pre-approval is a more involved process than a pre-qualification but may give more weight to any offer you make on a property. Obtaining a pre-approval requires submission of documentation supporting your income, assets and debt. An underwriter will review your information, and if acceptable, issue a pre-approval letter.
When you find the perfect home, simply call your Envoy representative to complete your application. At this point, you will have the option to lock in your interest rate and we will complete processing your application.
A: A pre-approval allows you to get approved for a specific loan amount prior to finding the home you want to purchase. Being pre-approved can provide you with a great advantage if you are in a situation where multiple people are interested in the same home you are interested in.
RATES
A: Annual Percentage Rate ( APR ) is the percentage used to figure out the total cost of your loan by taking into account all fees charged by your lender in addition to your loan principle and interest.
A: Interest rates are influenced by the financial markets and can change regularly. The changes are based on many different economic indicators in the financial markets.
A: With a fixed rate mortgage, the interest rate and payment remains constant over the life of the loan. With an adjustable rate mortgage, the interest rate can either increase or decrease, based upon the terms of the loan.
A: A rate lock gives you protection from financial market fluctuations. You have the option of when to lock in your interest rate.
CREDIT AND INSURANCE
A: A credit score is the primary indicator of how likely a person will repay future debt. Mortgage lenders review your credit history by reviewing your credit report. This report gives an indication of how well you have paid your bills and other financial obligations in the past. Additionally, the report will show how much debt you already have, for example, your credit cards, car, student and other types of loans.
Credit scores range between 300 and 850. The higher the credit score the better. Your credit score will play a role in determining the amount of money you can borrow and the terms of your loan, including the interest rate
A: PMI is insurance that covers the lender in the unfortunate event that the borrower is not able to repay the loan and the lender is not able to recover costs of the foreclosure through selling the property. Whether or not a loan will have PMI depends on the type of loan and the down payment made.
A: Homeowners are required to pay property taxes and they must also carry homeowners insurance to protect their home. In some cases the lender may require the taxes and insurance to be paid into an escrow account. If your loan has an escrow account, each month 1/12 of your annual tax and insurance payments will be collected as part of your monthly payment and placed in the escrow account. When the annual tax and insurance payments are due, the lender will make the payment on your behalf using the funds that have been accruing in your escrow account. Because tax and insurance figures can increase or decrease over time, your escrow account will be reviewed annually and may be adjustment up or down to take this fluctuations into consideration.
A: Both a home inspection and an appraisal are designed to protect you against potential issues with your new home. Although they have totally different purposes, it makes the most sense to rely on each to help confirm that you have found the perfect home. An appraisal is generally required on every loan by the lender, but a home inspection is an optional service that the buyer may wish to obtain. A home inspection is a much more thorough inspection of the property and is highly recommended.
A: The loan approval and funding time frames vary depending on the type of transaction and the complexity of your personal finances. On average, the process can take from 14 to 60 days.
A: The amount you’ll need to close your loan includes your down payment, closing costs and prepaid amounts for property taxes, and insurance escrow accounts. Prior to closing, Envoy will provide you with the final amount.
LOANS AND DOWN PAYMENTS
A: Review your current situation and future goals, and then answer these questions with your loan originator to help determine the best course of action:
- How long do you expect to stay in the house?
- Which is more important: low monthly payments or low closing costs?
- Will my income increase or decrease in the next three years?
- How comfortable are you with your monthly payment potentially increasing?
A: Conventional loans generally require a minimum down payment of 5%, although options with as little as 3% down may be available.
FHA mortgages are available for as little as 3.5% down and VA mortgage have a no-down payment option for eligible veterans.
We are here to assist you
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Robert Van Leuven, Salem, Oregon real estate agent. Offering expert advice on buying, selling, real estate investing. Get free market report and consultation today! Residential properties & investment services. Call (503)428-1741 or visit SalemAgent.com.
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