- Prepare your budget
Estimate a comfortable total housing payment, not only principal and interest. Include property taxes, homeowners insurance, mortgage insurance, association dues, maintenance and utilities.
- Review credit and documents
Check credit reports and collect income, employment, bank, asset, debt and housing records. Ask how large deposits or changes in employment should be documented.
- Explore loan choices
Compare conventional, FHA, VA, USDA and other applicable structures. Consider down payment, mortgage insurance, rate type, term, upfront fees and long-term cost.
- Request and compare offers
Compare written Loan Estimates with the same loan amount, term, rate-lock assumptions and timing. Review origination charges, lender credits, projected payments and cash to close.
- Protect the purchase
Understand contingencies, obtain an independent inspection, review title and insurance needs, and avoid new debts or unexplained financial changes during underwriting.
- Prepare for closing
Compare the Closing Disclosure with the Loan Estimate, confirm final funds using a trusted phone number and read every document before signing.
Closing-wire fraud warning
Criminals may impersonate a real-estate, title or lending professional shortly before closing. Never rely only on emailed wire instructions. Confirm the recipient and account details through a trusted telephone number you already know.
Useful questions for a lender
- What can change the quoted rate or costs?
- Is the interest rate locked, and until when?
- Which services can I shop for?
- What conditions remain before approval and closing?
- Could the payment change because of taxes, insurance, mortgage insurance or an adjustable rate?
Personal guidance
Want to discuss how this applies to you?
Greg can help you compare current loan options, documentation, costs and timing for your property and financial goals.
This educational summary was prepared from the referenced official material and reviewed on September 13, 2026. Program rules, limits and eligibility can change. Your lender’s current underwriting requirements and official disclosures control.