
Seller Credit | Can the seller pay the homebuyer's closing costs?
Sellers can pay the buyer's closing costs. It's called a seller or closing costs credit when the sellers of a property agree to credit a sum of money to the buyer at closing time...

Debt-to-Income ratio | What is a good DTI for a mortgage?
Debt-to-income (DTI) is a measure that compares your debt to the income you receive. Mortgage lenders use this ratio to determine how much you can afford to pay for a home loan. A..

Down Payment | How much for a down payment on a house?
If you're considering buying a home, you should know you have choices regarding a down payment. The popular belief is that homebuyers need 20% of the property's purchase price...

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.

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..

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.

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,..

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..

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. Feel free to download the..

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,..

Should you pay mortgage discount points for a lower rate?
Paying discount points is a way to lower your mortgage interest rate. Essentially, you pay a lump sum at closing in exchange for a lower interest rate on your mortgage. Points..

Mortgage Rate Lock | How an interest rate lock works
Like stock prices, mortgage interest rates constantly change. By locking in, you freeze the lender's rate and origination charges. As a result, you know how much your loan will..