Frequently asked questions

Why choose Defy Mortgage?

We do mortgages differently to benefit you. At Defy Mortgage, we believe that lending opportunities should be available to the creators, the leaders and those who take risks. You aren’t less qualified for a loan simply because you have alternative assets or several streams of income. We operate using only the safest and streamlined technology. Our innovative system opens purchase and refinance opportunities for those who are alternative asset heavy, with secure, efficient and personalized loan services.

Is Defy Mortgage a direct lender?

Yes, we are. We work with our borrowers through the entire process to create a secure and consistent experience.

Does Defy Mortgage offer mortgages in my state?

You can use Defy Mortgage to get a loan in Colorado, Florida, Oregon, Tennessee and Texas. We are quickly expanding to the other 50 states, so if you have questions or are curious about a mortgage loan outside of the above listed states, please contact us and we will be happy to assist you.

What type of loan terms does Defy Mortgage offer?

We currently offer both fixed (15 and 30 year) and adjustable rate mortgages for conventional, jumbo, HELOC and construction loans. We also offer FHA loans, and provide refinance and cash-out options.

What is a mortgage?

A mortgage is a loan that you take out to purchase your home. Similar to buying a car, the mortgage amount you are able to obtain will depend on the value of the home as well as your own financial situation. There are several mortgage options for first-time homebuyers or even returning homebuyers that allow you to put less money down. Other mortgage options could require more money down, but you have more flexibility on other things such as your credit profile. When you apply for a mortgage, your lender will typically review your application and discuss the best options available with you. If you are looking to purchase, get started here

What is a refinance?

Refinancing is the replacement of an existing mortgage with a new mortgage under a different term and interest rate. Refinancing is common when homeowners are looking to consolidate their debts, obtain a lower monthly mortgage payment and interest rate, adjust rates, set a shorter loan term, etc. If you are looking to purchase, get started here.

What is a cash-out refinance?

A cash-out refinance is a type of refinance in which the homeowner can convert their home equity into cash. It replaces your current mortgage with a new mortgage that's for more than what you owe on your existing home loan. Upon closing, you'll receive the cash difference between the new amount borrowed and the loan balance. Cash-out refinances can be helpful in paying for major expenses like a home renovation or college tuition. Likewise, it allows homeowners to update their mortgage rate and term. If you’re interested in a cash-out refi, get started here.

What credit score do I need for a loan with Defy Mortgage?

To qualify for a conventional loan with Defy Mortgage, you will need a credit score of 620 or higher. The minimum credit score to be eligible for a jumbo loan is 700. If you have a lower credit score than 620, you might be better suited for an FHA loan where the minimum credit score requirement is 580. We offer FHA loans so please be sure to discuss this with your Defy team point of contact.

Do you offer loans for investment properties?

Yes. If you are a homebuyer looking to purchase an investment property, we would be happy to help you. Get started

How can I find out how much home I qualify for?

Our Defy Mortgage lending team will work with you to quickly identify the maximum loan you're able to qualify for based on the financial information you provide. 

What documents do I need to provide to be approved?

The specifics will depend on your unique situation, but typically, the following documents are required:

  • One to two years’ tax returns via a Form 4506-T
  • Proof of income - paystubs, W2’s, 1099, etc.
  • One to two months of bank statements and other assets
  • Gift letters, if applicable
  • Rental history, if applicable
We may need other documentation, but at least be prepared with the first three docs listed in the previous sentence.

How does Defy Mortgage determine my mortgage rate?

There are various factors that go into determining your interest rate. For example: credit score, home location and price, loan amount, down payment, loan type and term, interest rate type. Everyone's situation is different and our Defy Mortgage team is well equipped to help get you the best interest rate depending on your unique situation. 

Will I have a point of contact at Defy Mortgage?

Yes, you will. Our Defy Mortgage loan team will be accessible to you throughout your purchase or refinance process. Your point of contact will be established after your application has been submitted and reviewed. If you have questions prior, please contact us here.

Will Defy Mortgage service my mortgage? Who will service my loan?

No, Defy Mortgage will not service your loan after it closes. We will transfer your loan to a permanent servicer who will handle the servicing of your loan. But, Defy can always remain a point of contact to assist with any questions, concerns, etc. throughout the life of the mortgage.

How quickly can I close my loan?

The industry average for the entire loan process in a normal market takes about 30 days. During high volume months, it can take longer to close - 45 to 60 days on average. In some instances, it can take less than 30 days. These are just averages based on industry data, but each individual is unique and your loan could take less or more days depending on your situation.

Is my data secure?

Absolutely. We have a security and compliance department who make sure we are up to date on the latest security requirements.

How do I get started?

If you are ready to get started, click on the “Apply Now” button and follow the easy steps for screening and creating a login. If you still have questions, we’d love to hear from you. Please email us at