Mortgage Guide
All the information you need to buy a home.
Featured tools
![Chicago real estate transfer tax calculator](https://www.newcastle.loans/hubfs/Chicago%20transfer%20tax%20calculator.png)
Real Estate Transfer Tax Calculator | Chicago metro area
Real estate transfer taxes are fees that the state, counties, and local municipalities charge buyers and sellers when transferring property ownership. Use our real estate transfer..
![Mortgage debt-to-income ratio](https://www.newcastle.loans/hubfs/Debt%20to%20income%20ratio-1.png)
Debt-to-Income ratio | What is a good DTI for a mortgage?
A mortgage debt-to-income (DTI) ratio is a measure that compares your debt to the income you receive. Mortgage lenders use it to determine how much you can afford to pay for a..
![Seller Credit Mortgage Purchase NewCastle Home Loans](https://www.newcastle.loans/hubfs/Seller%20Credit%20Mortgage%20Purchase%20NewCastle%20Home%20Loans.png)
Seller Credit | Can the seller pay the homebuyer's closing costs?
Sellers can pay the buyer's closing costs. A seller credit is a sum of money the property seller agrees to give the homebuyer at closing. The buyer can use the credit to pay..
![mortgage rate lock](https://www.newcastle.loans/hubfs/mortgage%20rate%20lock%20jim%20quist%20newcastle%20home%20loans.png)
Mortgage Rate Lock | How do rate locks work?
Interest rates fluctuate. A mortgage rate lock freezes your interest rate for a set time, protecting you if it rises. As a result, you know how much your loan will cost before..
![How much is a down payment on a house](https://www.newcastle.loans/hubfs/Down%20payment%20on%20a%20house%20Jim%20Quist.png)
Down Payment | How much is a down payment on a house?
Most first-time homebuyers need a down payment of at least 3% of the property's purchase price.
![How a mortgage credit check affects your score](https://www.newcastle.loans/hubfs/How%20a%20mortgage%20credit%20check%20affects%20your%20score.png)
How a mortgage credit check affects your score
Multiple inquiries from mortgage companies within 45 days are grouped and counted as a single inquiry, which minimizes the impact on your credit score. In this article, I'll show..
![Mortgage Discount Points Calculator Jim Quist NewCastle Home Loans](https://www.newcastle.loans/hubfs/Mortgage%20Discount%20Points%20Calculator%20Jim%20Quist%20NewCastle%20Home%20Loans.png)
Mortgage Discount Points | Calculator
Paying mortgage discount points is a way to lower your interest rate. You pay a lump sum at closing in exchange for a lower interest rate on your home loan. Points allow you to..
![Mortgage Insurance How much is PMI?](https://www.newcastle.loans/hubfs/Mortgage%20Insurance%20How%20much%20is%20PMI.png)
Mortgage Insurance | How much is PMI?
The cost of private mortgage insurance (PMI) varies depending on several factors, including the lender. Some lenders charge more than others for the same PMI. In this article,..
![](https://www.newcastle.loans/hubfs/mortgage%20co-signer%20buy%20home-1.jpg)
How a mortgage co-signer can help you buy a home
When your income, savings, or credit history falls short, adding a co-signer to your application can give you the boost you need to get approved for a mortgage. In this article,..
![Gift letter for a mortgage](https://www.newcastle.loans/hubfs/Gift%20Letter%20for%20a%20Mortgage-1.png)
Gift Letter | How to use a gift to buy a home
In this article, I'll show you the best way to prove that your gift is from an acceptable donor so that everything goes smoothly with your home purchase. You can download the gift..
![](https://www.newcastle.loans/hubfs/Why%20a%20verified%20mortgage%20pre-approval%20is%20better.png)
Why a verified mortgage pre-approval is better
In this article, I explain how a verified pre-approval letter improves your chances of getting the home you want.
![When should you get pre-approved for a mortgage?](https://www.newcastle.loans/hubfs/when%20to%20get%20preapproved%20for%20mortgage.png)
When should you get pre-approved for a mortgage?
Getting pre-approved for a mortgage is generally a good idea before you start looking for a real estate agent or viewing homes to buy.
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