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No — that's the most common myth in the process. FHA financing starts at 3.5% down, conventional financing can go as low as 3% for buyers who qualify, and VA and USDA loans can require nothing down for eligible borrowers. Texas down payment assistance programs (TDHCA and TSAHC) can reduce the cash needed at closing further. The right number depends on the program and the situation, not a single figure that applies to everyone.

No. It depends on the program: FHA financing allows scores as low as 500 with a larger down payment, or 580 with the standard 3.5% down. Conventional loans typically want 620 or above. Non-QM and bank statement programs set their own guidelines and work with a wider range of credit histories. A loan officer can tell you where a specific score actually lands across programs.

Pre-qualification is a quick, informal read on what you might afford based on what you report — useful for planning, not for making an offer. Pre-approval means a loan officer has actually reviewed documentation (income, assets, credit) and can give you a real number a seller will take seriously.

A bank can only offer its own loan products. A broker works with multiple loan programs and matches a borrower's actual situation to whichever one fits — which matters most for buyers who don't fit a standard conventional box. Entrust also underwrites in-house rather than routing files through outside processing, so a loan officer can tell you directly what a file needs.

Yes to both, through programs built for exactly those situations. Bank statement loans use 12–24 months of actual bank deposits instead of tax returns, which suits self-employed borrowers and 1099 contractors whose returns don't reflect their real cash flow. ITIN loans are for borrowers who file taxes with an Individual Taxpayer Identification Number instead of a Social Security number — an established path, not a workaround, and one Entrust's bilingual team works with often.