How much do I actually need for a down payment?

Less than you think. Conventional starts at 3%, FHA at 3.5%, and VA and USDA can be zero. Assistance programs can cover part of that. The bigger number to plan for is closing costs.

What credit score do I need?

580 opens FHA. 620 opens most conventional options. If you're below that, I'll tell you exactly what to move and roughly how long it takes, usually months, not years.

Should I wait for rates to drop?

Buy the house when the payment works and the house is right. If rates fall later, we refinance. Waiting has its own cost when prices and rents move.

How long does the whole thing take?

Pre-approval the same day. Contract to keys is typically three to four weeks when the file is clean.

What will you need from me?

Two months of bank statements, two years of W-2s or returns, recent pay stubs, and ID. I'll send one list, not five emails.

Does a pre-approval hurt my credit?

No. We start with a soft credit pull, which doesn't affect your score at all. A hard pull only happens once you're under contract. And even then, mortgage inquiries inside a 45-day window count as a single event, so shopping is safe.

Dillon Baker Call

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Your first home starts with a text.

I'm Dillon Baker, VP of Mortgage Lending at Rate in Carmel. I walk Indiana buyers through every step, in plain English, at your pace.

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10 min

Pre-approvals*

12 days

Average clear to close

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estimated equity after five years

Includes principal, interest, property tax at 0.85% of value, $150 a month for insurance, and mortgage insurance under 20% down. Not a quote or commitment to lend.

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Assumes 43% of gross income toward total monthly debt, property tax at 0.85% of value, $150 a month for insurance, and mortgage insurance under 20% down. Not a quote or commitment to lend.

About Dillon

I was born and raised in Indianapolis, and I'm proud to be a Hoosier. Above everything else, I love Jesus more than anything in the world. My background is in ministry, and that same heart for people is what I bring to every conversation about a home.

My passion for real estate started early. Growing up with a father who invested in and flipped properties, I learned firsthand that a house is far more than four walls and a roof. It's an anchor, an asset, and often the first real step toward building generational wealth. Today I call Carmel home, where I live with my wife and daughter, with another little one on the way.

Off the clock, I'm a certified coffee snob, a passionate marketer, and a world traveler — 45 of 50 states and 12 countries so far. On the clock, I have a particular heart for first-time homebuyers: my goal is to educate, guide, and empower you so your first home isn't just a transaction. It's the beginning of something lasting.

NMLS 2681440 Licensed in Indiana Carmel, IN

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I break down how mortgages actually work on YouTube. Start here.

In their words

Closing day. The part everyone remembers.

Dillon Baker with a client after closing

Done deal.

I had four different mortgage offers while shopping for the best rate—three from different brokerages and one from my bank. Dillon not only beat every single offer, but the process start to finish was done faster than anyone else.

What really set Dillon apart was his communication. The other brokers weren't bad by any means, but Dillon was exceptionally responsive. More often than not, he would reply immediately, keeping me informed and making the entire process smooth and as stress-free as a house purchase can be lol.

Dillon made it easy and got the best deal. If you're looking for someone who is knowledgeable, efficient, and highly responsive. I would absolutely recommend Dillon. Five stars!
Cory Kucey

Signed, closed, delivered.

You wont find a better guy than Dillon Baker! Dillon was key every step of the way and went above and beyond on the lending side. I truly think he was the reason I was able to land the keys with my dream home! Top guy!
TJ Whiteman

Gorski Got the Keys!

Excellent service, willingness to help, and ability to explain things to a guy that didn't understand anything before. Cannot recommend Dillon enough!
Joey Gorski

First-time home buyers holding an 'I got the keys' sign at closing

Breaking Into the American Dream

Dillon was incredible from start to end within the process and did a great job explaining and being available. Thank you Dillon!
Ryan Cultice

How it goes

Questions

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Same-day pre-approvals, weekend availability, and a call to your client before I call you. Co-branded materials and buyer seminars available.

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Fifteen minutes, no pitch. Call or text, both reach me directly.

Pick a time on my calendar → Call (317) 847-6869 → dillon.baker@rate.com →

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