Powerhouse Solutions, Inc.

Your Mortgage Solution Starts With Us

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You're in the right place

Buying your first home is one of the most exciting things you’ll ever do — and one of the most nerve-wracking. You’re probably wondering if you’ll qualify, whether you can compete with cash buyers, and whether you’re choosing the right lender. Those are exactly the right questions to be asking, and we’re going to answer every one of them.
Education

What Is a Home Purchase Loan?

A home purchase loan is the mortgage you use to buy a property — whether it’s your first studio apartment in Queens or a three-bedroom house in Miami. The loan covers the difference between your down payment and the purchase price, and you repay it over time with interest.

Purchase loans come in several forms: Conventional, FHA, VA, Jumbo, and Bank Statement loans, among others. The right one depends on your credit score, income type, down payment, and the property you’re buying. The good news — you don’t need to figure that out alone. That’s what your dedicated Powerhouse Solutions loan officer is for.

In today’s market, speed wins. Your pre-approval isn’t a formality — it’s your entry ticket. With cash buyers, bidding wars, and limited inventory, timing is everything. We issue pre-approval letters the same day.Use our mortgage calculator to see what you can afford →

Purchase loan types we offer

  • Conventional Loans
  • FHA Loans (as low as 3.5% down)
  • VA Loans (zero down for veterans)
  • Jumbo Loans
  • Bank Statement Loans
  • 1099 & P&L Loans
Talk to a Loan Officer
Qualification

What You Need to Qualify for a Purchase Loan

We believe in transparency. Here’s exactly what lenders look at — and where PHS gives you more flexibility than a traditional bank.
Credit Score
580+ (FHA) / 620+ (Conventional)

700+ for Jumbo loans.

Down Payment
As low as 3.5%

3.5% FHA · 3–5% Conventional · 0% VA · 20%+ Jumbo

Debt-to-Income
Up to 50%

Depends on loan type and full financial picture

Income Types
W2, Self-Employed, 1099

Bank statement and P&L income accepted

Property Types
Single, Multi-Family, Condo, Co-op

2–4 unit properties, townhouses, and condotels accepted

Licensed States
NY · NJ · CT · PA · FL

Serving the NY metro since 2006

Don’t see your situation above? Non-traditional income, past credit events, and complex ownership structures are what we handle every day. Tell us your situation — we’ll tell you straight whether we can close it.
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Why PHS

Why Buyers Choose PHS for Their Purchase Loan

There’s no shortage of mortgage lenders. Here’s what makes the difference when it actually counts.

01
Close in Under 30 Days

In a market where sellers choose the fastest, cleanest offer, your timeline is a competitive advantage. As a direct lender, we control every step of the process — no bank committees, no broker chains. Most of our purchase closings happen in under 30 days.

02
One Loan Officer, Start to Finish

You'll be assigned a dedicated loan officer on day one — not a call center, not a rotating team. They know your file, they answer your calls, and they're the same person at your closing table. For a first-time buyer, that continuity is everything.

03
Direct Lender, No Middleman

We originate, underwrite, and fund your loan in-house. That means faster decisions, fewer surprises, and rates that don't have a broker's margin built into them. You deal with us — no one else.

04
We Work With the Full Picture

W2, self-employed, 1099, commission-based, recent job change — we've seen every income situation. If there's a way to get you qualified, we'll find it.

No credit pull. No obligation.

Ready to Find Out What You Can Buy?

No credit pull. No obligation. Quick Application.

Get My Free Pre-Approval
The PHS Way

How It Works
From Application to Closing

1
Quick Application

Tell us about your situation in under 2 minutes. No commitment, no credit pull.

2
Pre-Approval Same Day

Your dedicated loan officer reviews your details and issues a pre-approval letter, often the same day.

3
We Handle Everything

PHS manages the entire process from underwriting to title. You focus on finding your home.

4
Close in Under 30 Days

As a direct lender, we control the timeline. No bank delays, no middlemen.

Real Stories

What Our Purchase Borrowers Say

Real first-time buyers. Real closings. Real.

FAQ

Home Purchase Loan FAQs

The questions every buyer asks. Answered straight.

Ask Us Directly
How long does a purchase mortgage approval take?
At Powerhouse Solutions, most borrowers receive a pre-approval letter the same day they apply. Full loan approval and closing typically happens in under 30 days — faster than most banks and brokers because we underwrite in-house. In competitive markets, that speed can be the difference between getting the house and losing it.
It depends on the loan type. FHA loans allow scores as low as 580 with a 3.5% down payment. Conventional loans typically require 620 or higher. Jumbo loans generally start at 700. If your score isn’t where you want it, talk to us — we can often map a path to qualification faster than you’d expect.
As little as 3.5% with an FHA loan, or 3–5% on certain Conventional programs. VA loans require zero down payment for eligible veterans. Jumbo loans typically require 20% or more. Your loan officer will show you every option available for your specific situation.
Yes — and it’s one of the most common purchase scenarios in the areas we serve. Powerhouse Solutions finances co-ops, condos, and condotels across NY, NJ, CT, PA, & FL. Approval requirements vary by building, so the earlier you loop in your loan officer, the smoother the process.
Yes. Powerhouse Solutions finances 2–4 unit properties throughout NY, NJ, PA, CT, & FL, including two-family homes in Queens, three-families in North Jersey, and investment-ready multi-units in Philadelphia. FHA loans can be used for multi-family properties as long as you occupy one unit.
Three things: speed, accountability, and control. As a direct lender, we underwrite in-house and close in under 30 days. You get one dedicated loan officer — not a call center. And because we’re not a bank, we’re not constrained by rigid guidelines that reject non-traditional income or complex situations. We’ve been doing this in the NY metro area and beyond since 2006.
Absolutely — and in New York, you should. A Powerhouse Solutions pre-approval letter tells sellers you’re serious, your financing is real, and you can close fast. We issue pre-approvals the same day in most cases, with no credit pull required for the initial conversation.
Let's do this

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516-829-2900