Understanding the mortgage underwriting process
What to expect from start to finish when lenders evaluate you for a home loan.
About the author
Laurie is an editor on Bankrate’s Home Lending team. She previously worked as a copy editor in the higher education space, including at BestColleges and Affordable Colleges Online. Prior to that, she worked in marketing and public relations at Binghamton University while earning her master's degree. She regularly writes a blog, Better By The Beat, to educate and empower the chronic illness community.
As an editor, Laurie’s universal goal is to create content that helps people cultivate and lead their best lives. When she's not editing for Bankrate, she enjoys reading, writing stories, blogging and exploring the beautiful outdoors of New York State.
Laurie wants you to know
Recently, my husband and I left behind the apartment life and bought our first house. One of my biggest tips for first-time homebuyers is to shop around and compare offers from at least three mortgage lenders. By doing so, we were able to lock in a lower rate with a local credit union offering a special deal, despite the high-rate environment. It's also helpful to draft a list of questions for each lender so you can easily compare your options and nail down the best fit for you. The homebuying process can seem overwhelming at times, but it's all worth it in the end when you get the keys to your new home!
What to expect from start to finish when lenders evaluate you for a home loan.
If you’re shopping for a mortgage, you better know what it means.
Although lenders can provide the same end product, not all are created equally.
One tends to be more expensive, but it also offers more homebuying options.
It’s a win-win plan — if you can afford it, of course.
It could be a good deal, depending on how you think interest rates are trending.
Here’s how a Bankrate editor bought her first home in a super-hot housing market.
Yes, shopping around can make a difference and save you thousands.
It means you need to have money on hand to get a mortgage. And like fine wine — the longer, the better.
If you qualify for both a VA and conventional loan, consider the pros and cons of each.
Imagine a mortgage with a fixed interest rate, but a monthly payment that varies.
Predatory lenders employ many tactics. Here’s what to watch for.
More than once, certainly. But making a habit of it gets costly.
It can get you that home if your qualifications are shaky. But it doesn’t necessarily mean joint ownership.
It requires not one, but two mortgages. But it can get you closer to that dream home.
Cash-out refinances have implications at tax time.