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We speak fluent mortgage
LEARN THE LINGO
Mortgage qualification
Unless you're paying all cash, a lender will be reviewing more than just your offer — here's what they're actually weighing, and why it's worth understanding before you're under contract.
Income & Employment
Your work history, income stability, and room for future earning — plus anything secondary, like bonuses, commissions, or child support.
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Credit Report
How you've repaid debt in the past, how much you currently owe, and how much credit you still have available to you.
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Assets
Cash on hand and other liquid assets — savings, checking, CDs, and stocks all count toward what a lender sees you bring to the table.
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What makes up your payment
Mortgage payment is really four numbers bundled into one. Knowing which is which makes the calculator below a lot more useful.
PRINCIPAL
The amount you actually borrowed. Early on, more of your payment goes to interest — over time, more goes toward the principal itself.
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PROPERTY TAXES
Collected by your lender each month and paid to your local government on your behalf — the amount varies by location and property.
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INTEREST
The cost of borrowing, expressed as a yearly rate and amortized over the life of the loan — typically 15 or 30 years.
PMI
Required on most loans with less than 20% down. It protects the lender, not you, if a borrower fails to repay.
GETTING STARTED
Pre-approval, made painless
A pre-approval is a letter that tells sellers you're serious, and it tells you what you can actually spend. Here's how it comes together.
01.
Talk it through
A 15-minute call with a lender we trust. No forms yet, just a plan for your income, credit, and goals.
02.
Share your info
Pay stubs, tax returns, bank statements, sent securely one time, so you're not repeating yourself.
03.
Get your letter
Your pre-approval in hand, usually within 24–48 hours, so you can write offers with confidence.
JUST ESTIMATING
What might this actually cost a month?
Run some numbers, a starting point for the conversation, not a quote.
Costs to consider
Beyond the down payment, buyers are on the hook for a handful of out-of-pocket expenses along the way. Exact numbers vary by transaction, but here's what to budget for.
Initial out-of-pocket expenses
Cash up front to show you're serious about the deal — due well before closing day.
EARNEST MONEY
Shows good faith that you intend to follow through on the contract. Locally, deposits typically run 1–3% of the offer price.
HOME INSPECTION
Always worth exercising your right to inspect. A general inspection usually runs $400–$700.
APPRAISAL
The exact cost depends on your loan type — ask your lender whether it's due up front or rolled into closing.
DOWN PAYMENT
Depending on your loan type and terms, expect anywhere from 0% to 20% of the purchase price. A bigger down payment lowers your monthly payment and total interest over the life of the loan — a smaller one keeps more cash on hand for emergencies. Neither is automatically "right"; it's worth running both scenarios in the calculator above before deciding.
CLOSING COSTS
Fees for loan processing and final settlement, due in full in cash unless rolled into your financing. Typically 1.5–3% of the purchase price — and in some markets, sellers can be asked to cover part of it as a term of the offer.
LOAN ORIGINATION FEE
Charged by the lender to process the loan — paid before or at closing.
POINTS
An optional, upfront cost paid to reduce your interest rate for the life of the loan.
TITLE INSURANCE
The exact cost depends on your loan type — ask your lender whether it's due up front or rolled into closing.
Title, Escrow & Recording Fees
Split between buyer and seller, settled at the closing table.
Property Taxes (prorated)
Calculated to determine what portion of the tax year each party owes.
Property Insurance
Paid by the buyer, either ahead of or folded into the closing transaction.
Common mortgage questions
You don't have to figure out the numbers alone.
Let's Talk
Some conversations start with a listing. Others start with a question you haven't quite named yet. Either way, we'd love to hear from you.
