Mortgage guides & resources
12 plain-language guides on how buying and financing a home works, from your credit and down payment through closing. For the numbers on your own file, talk to your loan officer.
Showing 8 of 12 guides
- For homebuyers1 min read
How your credit affects your loan
What lenders look at beyond the score, how credit shapes your options, and the moves to avoid once you're shopping.
Read the guide - For homebuyers1 min read
How much down payment you need
The 20% figure is a myth for most buyers. Here's what the low-down-payment programs allow and the trade-offs to weigh.
Read the guide - For homebuyers1 min read
Closing costs, explained
What the fees at closing pay for, where your official estimate comes from, and the ways they can be covered.
Read the guide - For homebuyers1 min read
Fixed vs. adjustable-rate mortgages
The difference between a rate that never moves and one that's fixed for a while, and how to think about which fits your plans.
Read the guide - For homebuyers1 min read
Private mortgage insurance, explained
Why PMI shows up on some loans, what it costs you, and how it comes off once you've built enough equity.
Read the guide - For homebuyers1 min read
What an escrow account does
Why your property taxes and insurance are often bundled into your mortgage payment, and why that payment can change over time.
Read the guide - For homebuyers1 min read
Debt-to-income, explained
One of the numbers that most affects what you qualify for, what goes into it, and how to strengthen it before you apply.
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A guide explains the process. A loan officer runs your numbers.
Loan officers are licensed by state, and each one applies through their own official ALCOVA application.
These guides are general information, not financial advice or loan terms. ALCOVA Mortgage LLC, NMLS #40508. Equal Housing Lender.