Loan Types
Compare fixed‑rate, adjustable‑rate (ARM), FHA, VA, and jumbo loans. Choose structures aligned to time horizon and payment stability.
Rate Drivers
Rates reflect market yields, credit profile, loan‑to‑value, points, and product type. Improve credit health and compare multiple quotes.
Preapproval
Gather income, assets, and liabilities documents. Preapproval clarifies budget and strengthens offers; avoid new credit inquiries during review.
Underwriting
Expect verification of employment, assets, appraisal, and title. Respond quickly to conditions to maintain timelines.
Closing Costs
Budget for origination fees, points, appraisal, title, escrow, and taxes. Review Loan Estimate and Closing Disclosure carefully.
Refinancing
Refinance when rate or term changes deliver net benefit after costs. Consider breakeven analysis and prepayment penalties.
Down Payment and PMI
Understand PMI thresholds and removal options. Larger down payments reduce borrowing costs and monthly obligations.
Homeownership Budgeting
Model total cost of ownership: mortgage, taxes, insurance, utilities, maintenance, and reserves.
California Specifics
Account for property taxes, insurance availability, wildfire risk, and local market dynamics.