A mortgage broker is a licensed and regulated financial professional who acts as an intermediary between you, the borrower and the potential lenders. Unlike a loan officer who works for a single bank, a broker has access to a wide range of lenders and loan products. Our job is to find the best mortgage option for your unique financial situation and guide you through the entire application process.

Wider Selection: We have access to multiple lenders, including major banks, credit unions, and private lenders. This allows us to compare a variety of rates and products.

Expertise and Guidance: We specialize in mortgages and can provide tailored advice for your specific circumstances, whether you're a first-time homebuyer, self-employed, or have a complex financial history.

Time and Effort Savings: We handle the legwork of shopping for rates, preparing the application, and communicating with lenders, saving you significant time and stress.

In most cases, we are compensated by the lender once your mortgage is finalized. Any fees we charge will always be disclosed upfront and in writing.

Yes. We are licensed and regulated by the states of Kentucky, Ohio and West Virginia. You can verify our license and good standing by visiting https://www.nmlsconsumeraccess.org/.

As a licensed mortgage brokerage, federal compliance guidelines require us to issue a Pre-Qualification Letter. "Pre-Approval" typically implies a direct commitment from a specific lender, which, as a broker representing multiple lenders, we cannot legally issue. A Pre-Qualification from Luma Lending signifies that we have conducted a full financial review of your credit, income, and assets. The thoroughness of this review is identical to what is typically considered a pre-approval, giving you a verified edge when making an offer.

While a 20% down payment is a common guideline to avoid private mortgage insurance (PMI), many loan programs require much less. We can explore options with low down payments, such as FHA loans (3.5% down) or conventional loans (as little as 3% down). Some programs for veterans (VA loans) and rural borrowers (USDA loans) may require no down payment at all.

Your credit score is an important factor, but not the only one. Each loan program has different minimum credit score requirements. We will review your credit report and help you understand your options and which loans you may qualify for, even if your score is less than perfect.

Your debt-to-income ratio is a key metric lenders use to asses your ability to manage monthly payments. It is calculated by dividing your total monthly debt payments by your gross monthly income. We will help you calculate your DTI and find lenders with requirements that fit your financial profile.