Pre-Approval
A lender's written estimate of how much you can borrow based on your income, credit, and debt.
Pre-Qualification
A basic estimate of what you may qualify for (less detailed than pre-approval).
Down Payment
The money you pay upfront toward the
purchase price of a home.
Closing Costs
Fees paid at closing (lender fees, title fees, taxes, insurance, etc.).
Earnest Money
A deposit showing you're serious about buying the home.
Contingency
Conditions that must be met for the sale to move forward (inspection, appraisal, financing).
Appraisal
An independent value of the home ordered by the lender.
Inspection
A professional check of the home's condition (roof, plumk 7, electrical, etc.).
Escrow
A neutral third party that holds funds and documents until closing is complete.
Underwriting
The lender's process of reviewing your financials to approve the loan.
Debt-to-Income Ratio (DTI)
How much debt you have compared to your income.
Guide to Buying a Home Buying a home is exciting, and being prepared can make the process much smoother. Use this checklist to stay organized from start to finish. Before You Start Looking Check your credit score and review your credit
Confirms Legal Ownership A title search helps verify that the seller has the legal right to sell the property. Uncovers Hidden Issues It can reveal unpaid property taxes, liens, judgments, or other claims that could affect ownership. Pr
Hi, I'm Kristi McLaughlin, and I'm so glad you're here. Thank you for visiting my website. Whether you're buying, selling, relocating, investing, or simply exploring your options, I hope you'll find helpful information, encouragement, and trusted res
Guide to Buying a Home Buying a home is exciting, and being prepared can make the process much smoother. Use this checklist to stay organized from start to finish. Before You Start Looking Check your credit score and review your credit
Confirms Legal Ownership A title search helps verify that the seller has the legal right to sell the property. Uncovers Hidden Issues It can reveal unpaid property taxes, liens, judgments, or other claims that could affect ownership. Pr