Educational Case Study Disclosure This case study is hypothetical and for educational purposes only. Scenarios, borrower profiles, loan terms, interest rates, and APRs are illustrative examples and do not represent current offers or guaranteed terms. If specific loan terms (e.g., down payment %, payment amount, rate/APR, points, or repayment period) appear in this article, required […]
If you started your journey with a rent-to-own agreement, you’re already one step closer to owning a home. But how do you make that final leap from tenant to owner? In this guide, we’ll show you how to use a mortgage to complete your rent-to-own contract, including timelines, tips, and strategies to protect your investment
Let’s get this out of the way right now: You do NOT need 20% down to buy a home. You can put 20% down if it fits your goals… But you don’t have to. And for many people — especially first-time buyers — it might even slow you down unnecessarily. Let’s unpack what’s really going
Before you start scrolling Zillow or touring open houses, stop and ask yourself one crucial question: “Am I buying a home to live in — or a property to build wealth with?” That one shift in mindset can completely change what you look for, how you budget, and the kind of future you’re building. At
You Don’t Have to Buy a Home Alone If you’re a first-time buyer with solid credit but not enough income to qualify for the home you want, there’s a powerful solution: bring in a non-occupant co-borrower. This strategy lets someone (usually a parent, relative, or close friend) co-sign on your mortgage without living in the
Relocating to a new state is exciting — it’s a chance to start fresh, build something new, and step into the next chapter of your life. But without the right strategy, it can quickly turn into a logistical nightmare. You’re not just moving your belongings — you’re navigating new laws, new markets, and new timelines,
Let’s get this out of the way right now: You do NOT need 20% down to buy a home. You can put 20% down if it fits your goals… But you don’t have to. And for many people — especially first-time buyers — it might even slow you down unnecessarily. Let’s unpack what’s really going
Buying your first home is exciting — but it can also feel overwhelming. There’s no shortage of advice out there, and unfortunately, not all of it is accurate or helpful. At Stairway Mortgage, we’ve helped hundreds of first-time buyers navigate the process with clarity and confidence. Here are the top mistakes we see — and
One of the most important decisions you’ll make when financing a home is choosing between a fixed-rate mortgage and an adjustable-rate mortgage (ARM). And while one isn’t always “better” than the other, the right choice depends on your goals, timeline, and risk comfort — not just today’s rate. Let’s break down how each one works,
1. A Title Commitment Outlines the Conditions for Title Insurance A title commitment is a document issued by a title company that details the conditions under which they will provide title insurance. It serves as a preview of the title insurance policy you’ll receive after closing. This insurance protects you in case there are any title disputes after you purchase the
1. An Assumable Mortgage Allows You to Take Over the Seller’s Loan With an assumable mortgage, instead of applying for a new mortgage, you can take over the seller’s existing mortgage—including the interest rate and remaining balance. This means you’ll pick up where the seller left off, keeping their favorable loan terms. If the seller has a lower interest