Your independent homebuying notebook
Read the notebook
Follow the purchase process or open the chapter that answers your current question.
The homebuying steps, in order
Prepare your finances before falling in love with a listing.
Check your credit before applying
Know what is reported and challenge errors through the proper channels.
Pre-approval is preparation, not a promise
Compare written terms and ask what still has to be checked.
Plan a down payment without emptying your savings
Cash to buy and cash to keep are different decisions.
Use inspections to understand the property
An appraisal is not a substitute for a condition inspection.
Find first-time buyer help through official sources
Read the conditions before counting assistance as cash.
Read closing costs line by line
Separate fees, prepaid items and escrow money.
Decide whether renting is still the better fit
A housing decision is not just a monthly payment contest.
Prepare for closing without rushing the review
A signature should follow understanding, not pressure.
A plain-language mortgage glossary
Translate the terms before comparing the offers.
Long reads for the loan, the paperwork and the money
Twelve deeper entries built from CFPB, IRS, FEMA and federal regulation pages. Tax entries state the tax year they apply to.
Compare Loan Estimates side by side
How to request Loan Estimates from more than one lender, which lines to compare, what you can and cannot shop for, and the risky features the CFPB tells buyers to question.
Mortgage loan types, explained without a sales pitch
Conventional, FHA, VA and USDA loans as the CFPB describes them, fixed versus adjustable rates, 15- versus 30-year terms, and features to question before you choose.
Mortgage insurance: what it protects and when it ends
Why lenders require mortgage insurance with smaller down payments, how PMI, FHA, USDA and VA costs differ, and the CFPB's explanation of when PMI can be cancelled or must end.
Rate locks: what they protect and what can still change
What a mortgage rate lock does, typical lock periods the CFPB describes, how a locked rate can still change, and how to choose a lock long enough to reach closing.
Points and lender credits: paying now or paying later
How discount points lower a mortgage rate for more cash at closing, how lender credits do the reverse, the CFPB's example of the trade-off, and how to decide using the years you expect to keep the loan.
Escrow accounts for property taxes and insurance
How a mortgage escrow account works, why many lenders require one, the limits federal rules place on escrow deposits, annual escrow statements, and what happens if taxes or insurance go unpaid.
The appraisal: your copy, a low value, and what to ask
Why lenders order an appraisal, your federal right to a copy before closing, how an appraisal differs from an inspection, and the options to discuss if the value comes in below the price.
Title insurance and title searches, in plain terms
What the title is, why lenders require a lender's title policy, what an owner's policy covers according to the CFPB, how to shop, and how to read the title lines on your Loan Estimate.
Homeowners and flood insurance before you close
Why lenders require homeowners insurance, how to shop for a policy, why most homeowners policies do not cover flood damage, how to look up a flood zone, and NFIP coverage limits as published by FloodSmart.
Protect your closing funds from wire fraud
How closing scams use fake emails to redirect down payments, the verification steps the CFPB recommends, what to do immediately if you wired money to the wrong account, and where to report it.
Mortgage interest, property taxes and your first tax return as an owner
What IRS Publications 936 and 530 say about deducting mortgage interest, points and property taxes, the itemizing rule, the limits and the records to keep.
Making an offer: price, contingencies and deadlines
What usually goes into a purchase offer, how earnest money and contingencies work, why deadlines matter more than headlines, and questions to settle before you sign.