Mortgage Guide
Useful Guides in PDF
Looking for clear and reliable information to guide you through the home-buying process?
Purchasing your first home is one of the most significant financial decisions. The mortgage process can be complex, but with the right knowledge, you can navigate it confidently. These guides will help you understand the key aspects of securing a mortgage in the U.S. and what you should expect at each stage.
Start with our 12 recommendations to get the optimal financing for your home. We also gathered guides prepared by the Consumer Financial Protection Bureau that can be of big help.
How Home Purchases Work
STEP 1
Determine budget and save for a down payment
Before you even start looking at homes for sale, it’s important to determine your needs and budget. Then start saving up for that down payment.
How much can I afford?
STEP 2
Get pre-approved
Apply for your mortgage with Guaranteed Rate. Know your buying power, monthly payment options, and show sellers that you’re serious with a pre-approval letter.
How pre-approval helps you
STEP 3
Connect with an agent, make an offer, and contract
Start house hunting! An agent knows your market and works with you to find your dream home on your budget. When you find your perfect home, present the seller a purchase contract with all the details.
What real estate agents do
STEP 4
Contingencies, appraisal, underwriting, close, move
Once an offer’s accepted, the home needs to be appraised. Next, underwriters check over the financials before clearing you to close. Then it’s time to sign and move in.
Most common questions
How Home Refinances Work
STEP 1
Determine your goals
Refinancing can lower your monthly payment, help pay your mortgage off faster or let you consolidate debt with a cash-out refi.
Should I refinance now?
STEP 2
Run the numbers
Refinancing has more variables than just a new interest rate. Run the numbers so you can know how your monthly payment and mortgage terms may change.
Use our refinance calculator
STEP 3
Lock your loan
Most homeowners refinance for a new, lower interest rate, but rates change daily. Apply to refinance as soon as you’re ready and lock your new mortgage rate.
Apply to refinance
STEP 4
Close on your refi
Closing on a refinance should feel familiar. You’ll have an appraisal, go through underwriting and then close the mortgage. But this time you’ve already moved in.