Master Your Mortgage Journey

Understand how mortgages work, the key players involved, and the basic structure of a home loan.

• A mortgage is a secured loan using the property as collateral
• Principal, interest, taxes, and insurance make up your monthly payment
• Loan terms typically range from 15 to 30 years

Learn what influences mortgage rates and how to lock in the best rate for your situation.

• Rates are influenced by the Federal Reserve, bond markets, and your credit profile
• A rate lock protects you from market fluctuations during processing
• Even a 0.25% rate difference can save thousands over the loan term

Master DTI — the ratio lenders use to measure your ability to manage monthly payments.

• DTI compares your monthly debts to your gross monthly income
• Most programs require a DTI of 43% or lower
• Lower DTI means better rates and more loan options

How credit scores affect your mortgage options, rates, and what you can do to improve yours.

• Most loan programs require a minimum score of 580–620
• Higher scores unlock lower rates and better terms
• Paying down revolving debt is the fastest way to boost your score

Everything about conventional mortgages — requirements, PMI, and when they make sense.

• Requires 620+ credit score and as little as 3% down
• PMI is removable once you reach 20% equity
• Available for primary, second homes, and investment properties

Government-backed loans with lower barriers to entry — perfect for first-time buyers.

• Only 3.5% down payment required with 580+ credit
• More lenient DTI requirements (up to 57% in some cases)
• MIP is required for the life of the loan (unless 10%+ down)