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Learn mortgages the plain-English way
Straight answers about mortgages, from a licensed loan officer who explains the why behind every number. Browse by topic below — home buying, loan types, refinancing, home equity, rates, and the fundamentals — or scroll for the latest guides and articles.
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Home Buying
Pre-approval, down payment help, offers, and closing — the full buyer journey.
Explore Home BuyingLoan Types
FHA, VA, USDA, conventional, jumbo, DSCR and more — compared plainly.
Explore Loan TypesRefinancing
When to refinance, closing-cost math, and traps to avoid.
Explore RefinancingHome Equity
Home equity loans and HELOCs — how to put your equity to work.
Explore Home EquityRates & Market
What really drives rates, plus timely market news.
Explore Rates & MarketMortgage Basics
APR, taxes, escrow, title, and the tools that tie it together.
Explore Mortgage BasicsLatest guides & articles
How Much of My Income Should Go Toward My Mortgage?
A common guideline is to keep your housing payment under 28% of your gross monthly income. On a $100,000 salary, that's about $2,333 a month. But the right number for you depends on your other debts, your lifestyle, and how much financial cushion you want.
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What Actually Happens in Underwriting?
Underwriting is where a lender verifies everything in your application and decides whether to approve your loan. An underwriter reviews your income, assets, credit, and the property itself, then issues an approval, a denial, or (most commonly) an approval with conditions. It usually takes a few days to a couple of weeks.
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Pre-Qualification vs Pre-Approval: What's the Difference?
Pre-qualification is a quick, informal estimate based on information you report yourself. Pre-approval is a verified decision based on the lender pulling your credit and reviewing your actual documents. Sellers take pre-approval far more seriously, and it's the one that matters when you're ready to make an offer.
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Gift Funds: The Rules for Down Payment Gifts
A family member can give you money for your down payment, and on most loan types the entire down payment can be a gift. The key rules: it has to be a true gift with no repayment expected, it must come from an acceptable source, and it has to be documented with a gift letter and a clear paper trail.
Read moreSeller Concessions: How Much Can the Seller Pay?
A seller concession is when the seller agrees to pay part of your closing costs as a term of the sale. It's a legitimate, common way to reduce your cash to close, and depending on the loan type and your down payment, a seller can contribute anywhere from 2% to 9% of the purchase price toward your costs.
Read moreWhat Credit Score Do You Need for Each Loan Type?
The minimum credit score depends entirely on the loan program: FHA goes as low as 500-580, VA and USDA have no federal minimum (lenders typically want 580-640), conventional generally starts around 620, and jumbo loans want 700 or higher. Here's the breakdown by program.
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