Mortgage guides and articles
Step-by-step mortgage articles: how much house you can afford, PMI, refinancing, FHA vs conventional, closing costs and more, with sourced numbers.
GuideHow much house can I afford on $50,000 a year?What $50,000 buys with FHA, 3%-down conventional, USDA or VA loans, and how debts, assistance and your state change it.GuideHow much house can I afford on $75,000 a year?Three budgets for a $75,000 salary, plus how debts, down payment, rates and your state change the price.GuideHow much house can I afford on $100,000 a year?What a $100,000 household with a car loan and student debt can buy at each DTI limit, and how 5% or 10% down and FHA change it.GuideHow much house can I afford on $150,000 a year?What $150,000 buys with 20% down, which of 20 big-city medians it reaches, and where the jumbo threshold sits.Guide15-year vs 30-year mortgage: what the shorter term really costs and savesPayment, total interest and equity on 15- and 30-year loans at today’s rates, the extra-payment middle path, and how the term changes your approval.GuidePoints or a bigger down payment: where extra cash at closing saves moreThree uses for extra closing cash — points, a bigger down payment or reserves — compared over 3, 5, 7 and 10 years.GuideSecond home vs investment property: how the mortgage changesOccupancy rules, down payments, reserves, rental income and taxes for second homes and rental properties, side by side.GuideFHA vs conventional: which costs less over 5 and 10 years?Upfront premium, MIP, PMI and interest added up at three down payments over 5 and 10 years — and the credit and rate gaps that flip the answer.GuideCan you use a VA loan twice?Restoring entitlement, keeping one VA loan while buying with another, and what the second purchase costs in funding fee.GuideHow lenders calculate debt-to-income, line by lineSalary, hourly pay, overtime averaging, rental income and the debts lenders add, worked through a full DTI worksheet.GuideHow to lower your closing costsShopping services, lender credits, seller concessions, closing dates and assistance programs — what each saves, with worked numbers.GuideIs refinancing worth it? Start with what you want it to doFour reasons to refinance and four different tests — rate, mortgage insurance, term and cash out — each worked out at today’s rates.GuideHow to pay for a home renovationOne $60,000 project paid six ways — equity loans, refinancing, FHA 203(k), HomeStyle and cash — and which situation each one suits.GuideARM risks explained, with the numbersPayment shock, rate paths, the margin, refinancing and qualifying on a 7/6 and a 5/6 ARM, worked out on one $350,000 loan.GuidePre-approval vs pre-qualification: which one do you need, and when?When a pre-qualification is enough, when you need a pre-approval, and a dated timeline from first estimate to closing.GuideGetting a mortgage after bankruptcy or foreclosureWaiting periods after Chapter 7, Chapter 13, foreclosure and short sales for Fannie Mae, VA and USDA loans, with the exceptions.GuideDown-payment assistance programs: how the states compareState down-payment help compared: amounts, percentage caps, forgivable vs repayable seconds, credit minimums and income limits.GuideHow property taxes change your mortgage paymentProperty tax on the median home in all 50 states and DC, the share of the payment it takes, and how reassessment and escrow change it.GuideHomeowners insurance and your mortgageWhat lenders require, what insurance adds to your payment, flood zones, force-placed insurance and what to do when the premium jumps.GuideEscrow accounts explained: how the money moves, and why your payment changesHow escrow works month to month, the cushion limit, the annual analysis and what a tax increase does to your payment.GuideHow a mortgage rate lock worksWhat a lock covers, how long to lock, what breaks it, how it ties into the Loan Estimate rules and what a rate move costs.GuideGetting a mortgage when you’re self-employedTwo years of tax returns, the add-backs lenders allow, what a falling year does, and bank-statement and DSCR alternatives.GuideBuying a home with a co-signerCo-signer vs non-occupant co-borrower vs co-owner, Fannie Mae’s limits, the DTI math with their debts, and how to get them off later.GuideReverse mortgage pros and consNo monthly payment against a balance that compounds: three scenarios, the equity left, what heirs face and the alternatives.GuideBiweekly mortgage payments: do they save money?What 26 half-payments a year really save, two simpler ways to get the same result, and the fees and servicer rules to watch.