Frequently asked questions.

A mortgage broker shops your loan across wholesale lenders to find a rate and program that fit your situation, instead of selling whatever a single bank happens to offer. District Mortgage is licensed as a broker and shops your file across our wholesale lender network, so your loan is shopped across the market instead of being limited to one bank's product menu.

District Mortgage is currently licensed to originate residential mortgage loans in Washington, DC (mortgage broker license issued by the District of Columbia Department of Insurance, Securities and Banking, NMLS #2819502). The property securing the loan must be located in the District of Columbia.

Your interest rate is what you pay on the principal balance of the loan. The APR (annual percentage rate) is a broader figure that includes the rate plus most of the lender fees and discount points, expressed as a yearly cost. APR is required by federal Reg Z so you can compare loans on a level playing field — always compare APR to APR, not rate to rate.

Our pre-qualification uses a soft credit pull, which has no impact on your credit score. You'll answer about 5 short questions about your loan goal, income, and the property, and we'll match you to programs and indicative rates. A hard credit pull (which can ding your score by a few points) only happens later, when you've decided to move forward and submit a full application.

Most purchase loans close in 30 to 45 days from the date you submit a complete application. Refinances typically close in 30 days. Streamline refinances (FHA or VA) can close in 2 to 3 weeks. We push hard to close on time — most delays come from missing documents or appraisal disputes, both of which we work to resolve quickly.

For most borrowers: two years of W-2s or 1099s, the most recent 30 days of pay stubs, two months of bank and asset statements, and two years of tax returns if you're self-employed or have rental income. We'll send you a personalized checklist after pre-qualification — most documents can be uploaded directly through your borrower portal.

Conventional (Fannie Mae, Freddie Mac), FHA, VA, USDA, jumbo, and specialty programs including HomeReady, Home Possible, FHA 203(k) renovation loans, and bank-statement loans for self-employed borrowers. We also handle rate-and-term refinances and cash-out refinances. If you're not sure which program fits, that's exactly what the pre-qualification call is for.

It depends on the program: conventional loans start at 3% down (HomeReady, Home Possible), FHA at 3.5% down, VA at 0% down for eligible service members, and USDA at 0% down in eligible rural areas. Larger down payments typically qualify you for lower rates and let you avoid mortgage insurance — but "more is always better" isn't a rule; it depends on your financial picture.

No. The licensed loan officer who pre-qualifies you stays on your file from the first call through closing. You won't get handed off to a processing team you've never spoken to. We think continuity matters — both for fewer mistakes and because mortgage decisions are personal.

Our compensation is paid by the lender, not by you, on most transactions. You pay standard third-party closing costs (appraisal, title, recording, taxes), and any discount points you choose to buy down your rate. Federal anti-steering rules require us to present you with at least three loan options including the lowest rate available, so you can verify you're getting a fair deal.

A discount point costs 1% of your loan amount and typically lowers your interest rate by about 0.25%. Whether to pay points depends on how long you'll stay in the loan: if you'll keep the mortgage for 5+ years, paying points usually pays off; for shorter horizons (or if you might refinance soon), it usually doesn't. We'll show you the breakeven math for your specific scenario.

Click "Get my rate" anywhere on the site, answer 5 quick questions (about 90 seconds), and we'll match you to programs and indicative rates with a soft credit pull. From there, you'll get a personal email or call from your assigned loan officer to walk through your options. No commitment, no hard credit pull until you decide to apply.