It depends on the lender and the specific requirements for the type of mortgage you are applying for. A low credit score may limit your options or result in higher interest rates, but it is still possible to get a mortgage. Working with a mortgage professional can help you explore your options and find the best solution for your situation.

The amount of money you need for a down payment can vary depending on the type of mortgage you are applying for and the purchase price of the home. Generally, a down payment of 20% of the purchase price is recommended, but there are programs available for lower down payments. Your mortgage professional can help you determine how much you will need for a down payment based on your specific situation.

A fixed-rate mortgage has a set interest rate that does not change over the life of the loan, while an adjustable-rate mortgage has an interest rate that can fluctuate based on market conditions. Fixed-rate mortgages offer more stability and predictability in monthly payments, while adjustable-rate mortgages can offer lower initial rates and more flexibility.

Yes, you can pay off your mortgage early, but there may be penalties or fees associated with doing so. It is important to review your mortgage agreement and speak with your lender to understand the terms and any potential costs of paying off your mortgage early.

Yes, it is possible to qualify for a mortgage if you are self-employed, but the process may be more complex and require additional documentation. Your mortgage professional can guide you through the process and help you gather the necessary paperwork to demonstrate your income and financial stability.