Mortgage education

Plain answers, no jargon tax.

Mortgages are paperwork wearing math. We translate. Every guide, glossary entry, and FAQ below is written to be skimmed in three minutes — and to give you the right questions to ask, even if you end up using somebody else's broker.

Start here

Pick the conversation you're in the middle of.

Buying your first home

Pre-qual vs. pre-approval, what a 760 FICO actually buys you, and the words to say at the inspection.

Guides below

Loan types, compared

FHA, VA, Conventional, USDA, Jumbo, ARM, Non-QM. Start with the glossary and FAQ — or just ask us.

Glossary below

Refinancing & cash-out

The break-even math, when to skip it, and what cash-out actually costs over thirty years.

Guides below

Down-payment help

Florida Housing programs, county grants, lender credits, and gift letters — what's real and what's a sales pitch.

FAQ below

The process & timeline

What happens between application and keys, day by day. Where it usually slips, and how to keep it from slipping on you.

FAQ below

Glossary & documents

Plain-English definitions of the terms on your Loan Estimate. Plus the doc checklist we'll actually need from you.

Glossary & checklist below

Guides

The three guides we send most often.

Featured

How to read a Loan Estimate without crying.

Every page of the standard three-page Loan Estimate — what it means, what's negotiable, and the three numbers to check first.

Buying6 min read

Refi

The refinance break-even, on a napkin.

Three numbers, one division problem — and the three gotchas that hide in the fine print.

Refinancing4 min read

Florida

Flood zones, insurance, and your SWFL mortgage.

Why two similar Cape Coral homes carry different payments, when flood insurance is federally required, and what to check before the offer.

Florida7 min read

Before you apply

The exact stack we'll need.

Mortgages run on paperwork. Gather these before your first call and we can have your pre-qual letter the same afternoon — no scavenger-hunt emails.

Self-employed or using a VA loan? Your list is a little longer — text (239) 790-PURE and we'll send the additions.

Standard W-2 borrower

Driver's license or passportID
Two most recent pay stubs30 days
Two years of W-2sIncome
Two months of bank statementsAssets
Two years of tax returns (if commission, bonus, or 1099)Income
Address history, 2 yrsResidency
Gift letter, if any cash from familySource
Purchase contract (once you have one)Property

Glossary

The terms you'll actually hear.

If you've heard a word on the call and weren't sure what it meant, it's probably here. If it isn't, text us and we'll add it.

Annual Percentage Rate APR: The true yearly cost of your loan including interest and certain fees. Always higher than the rate. Use it to compare apples-to-apples between lenders.
Amortization: How your monthly payment gets split between principal and interest over time. Early on, you're paying mostly interest. Later on, mostly principal.
Adjustable-Rate Mortgage ARM: A loan whose rate is fixed for an intro period (5, 7, or 10 yrs) and then adjusts yearly. Cheaper up front, riskier long-term.
Buy-down: Paying upfront cash (points) or having the seller pay it, to lower your rate. A 2-1 buy-down lowers your rate by 2% in year one, 1% in year two.
Closing Disclosure CD: The five-page document you sign three days before closing. Final rate, final fees, final monthly payment. Compare it line-by-line to your Loan Estimate.
Debt-to-Income Ratio DTI: Your monthly debt payments divided by your gross monthly income. Most loans want under 43%. We can usually solve a tight DTI with a longer term or paying down a card.
Escrow: An account your lender holds for property taxes and homeowner's insurance, paid by you each month with your mortgage. Florida insurance has made this a much bigger line than it used to be.
FHA Loan: A loan insured by the Federal Housing Administration. Lower credit minimums, lower down payment (3.5%), but PMI is permanent unless you refinance out.
Loan Estimate LE: The standardized three-page quote you get within three days of applying. Rate, fees, monthly payment, cash-to-close. Every lender's looks identical so you can compare.
Private Mortgage Insurance PMI: Insurance the lender requires when your down payment is under 20%. On conventional loans it drops off at 78% LTV; on FHA it sticks around.

Common questions

The ones we get on every first call.

If yours isn't here, text (239) 790-PURE and we'll add it.

Will applying hurt my credit score?

A pre-qualification doesn't pull credit at all — we ask you to estimate. A formal pre-approval pulls a hard inquiry, which knocks 3–5 points and recovers in 60 days. Multiple mortgage pulls inside a 45-day window count as one for scoring purposes.

How much down payment do I really need?

FHA loans go as low as 3.5%. Conventional loans can go to 3% with PMI. VA loans for eligible veterans are $0 down. The right answer depends on your monthly cash flow and how long you'll stay — lower down means a bigger payment but more cash in your pocket.

What's the difference between a broker and a bank?

A bank sells you its one mortgage product. A broker (us) shops your file across 40+ wholesale lenders and lets you pick. We get paid by the lender once a loan closes — not by you, and not from a single source.

How long does the whole process take?

From signed contract to closing, a clean purchase generally runs three to four weeks and a refinance four to five — your contract dates drive the plan. The slowest pieces are usually the appraisal and any condo HOA documents — both out of our hands, but we chase them daily.

Can I lock my rate now and float later?

Yes — some of our wholesale lenders offer "float-down" locks: you lock today, and if rates drop more than 0.25% before closing you can re-lock once at the lower rate. Costs about 0.125 in points. Usually worth it in a falling-rate environment.

What if my credit isn't great?

We work with files down to a 580 FICO on FHA and 620 on conventional. If you're below that, we'll tell you exactly which two or three things to fix — usually a credit-card paydown and one collection — and circle back in 90 days. No charge to come back.

How do I find out my actual rate?

We don't post rates on this site — a posted number is a teaser for someone else's scenario, not yours. Your actual rate depends on credit, down payment, loan amount, property type, and lock period, so we quote from live wholesale rate sheets for your specific file. It takes about ten minutes and no credit pull to start.

Read enough?

Whenever you're ready, we'll quote you in plain English.

Ten minutes. No credit pull. We'll point out the trade-offs the website didn't.

Get pre-qualified

(239) 790-PURE (7873)

Or call. We answer on Saturdays.