The vocabulary, decoded.

Applying feels daunting mostly because of the paperwork — so gather it before you start. You'll typically need: photo ID and Social Security numbers; 30 days of pay stubs; two years of W-2s or tax returns (both, if self-employed); two months of bank and asset statements; and details on current debts. Purchasing with a gift? Add a signed gift letter from the donor.

Ready to go? Apply online (opens our secure application portal in a new tab) — or call us first and we'll walk you through the checklist.

Your credit history is the recorded file of how you've borrowed and repaid, distilled into a score lenders read at a glance. Payment history and current balances weigh heaviest; length of history, new inquiries, and the mix of account types fill out the picture.

Improving it is unglamorous but reliable: pay on time, pay balances down, avoid opening new debt while your loan is in flight. You can check your reports free at annualcreditreport.com — and if your credit needs real repair work first, that's a service we offer guidance on. Ask.

Closing costs are the fees that finalize a home loan — separate from your down payment. They cover things like origination, appraisal, title work, and prepaid taxes and insurance. Depending on the loan, they can be paid in cash at closing, rolled into the loan, or offset with seller credits — we'll show you the trade-offs of each.

An appraisal is a state-licensed professional's estimate of a property's fair market value, and your lender requires one to confirm the loan amount matches what the home is worth. It protects you too: it's an independent check that you're not overpaying.

PMI protects the lender when a conventional borrower puts less than 20% down. It typically adds a monthly premium until you reach 20% equity — at which point it drops off. There are also ways around it entirely: piggyback structures like 80-10-10 financing, or programs that price the risk differently. Worth a conversation before you assume you need 20% down.

Refinancing replaces your current mortgage with a new one — usually to lower the payment or rate, shorten the term, consolidate higher-interest debt, or turn equity into cash. The math that matters is the breakeven: how many months of savings repay the closing costs. Run your breakeven here.

APR — the yearly cost of the loan including points and fees; the honest number for comparing lenders. Points — prepaid interest; one point is 1% of the loan. LTV — loan-to-value, the loan amount against the property's value. DTI — your monthly debts against gross income. Escrow — the account your lender uses to pay taxes and insurance. Rate lock — a guaranteed rate for 30–60 days while your loan closes. Meet a term we haven't covered? Ask us — explaining this stuff is the fun part.

Foreclosure is the process of a lender taking a property under the terms of the mortgage contract — and it is almost always avoidable if you act early. If payments are getting hard, call your lender before you miss one: forbearance, modification, and repayment plans all work better the sooner they start. And if you're underwater on a high rate, a refinance may relieve the pressure — talk to us about your options.