Resources
Mortgage resources
A payment calculator, home buying guides, and answers to mortgage questions.
Estimate your monthly payment
Enter the home price, down payment, interest rate, and loan term to estimate your monthly payment.
This calculator shows principal and interest only. Your monthly payment may also include property taxes, homeowners insurance, and mortgage insurance.
Your numbers
Estimated Monthly Payment
$2,023
Principal & interest only. Does not include taxes, insurance, or PMI.
Mortgage guides
Guides to buying, credit, and refinancing.
First-Time Homebuyer Guide
The steps to buying your first DC home, from saving for a down payment to closing.
Read the guideLoan Types
How FHA, conventional, VA, and jumbo loans differ on down payment and loan size.
Read the guideCredit Score Improvement
Steps to improve your credit score before you apply for a mortgage.
Read the guideRefinancing Checklist
What to check and prepare before you refinance.
Read the guideMortgage questions and answers
How much down payment do I need?
It depends on the loan type. FHA loans require 3.5% down, and the whole down payment can be a gift from family. Conventional loans require 3% to 20% down. VA loans allow no down payment for eligible veterans.
What credit score do I need to qualify for a mortgage?
It depends on the loan type. FHA loans with 3.5% down need a minimum score of 580. Conventional loans need a minimum of 620. The VA sets no minimum score, but each lender sets its own minimum.
How long does the mortgage process take?
Plan on 30 to 45 days from a complete application to closing for a purchase, and about 30 days for a refinance. Sending your documents at the start keeps a file on schedule.
What documents do I need to apply?
Proof of income (pay stubs, W-2s, tax returns), bank statements, identification, employment verification, and information about your assets and debts.
What is PMI and how can I avoid it?
Private Mortgage Insurance (PMI) is required on a conventional loan when your down payment is less than 20%. You can avoid PMI by putting 20% down, choosing a VA loan (no PMI), or choosing lender-paid PMI.
Should I get pre-approved before house hunting?
Yes. A pre-approval shows sellers you are a serious buyer, tells you what you can realistically offer, and takes days off the closing timeline once you are under contract.
Ask a licensed loan officer
Book a 15-minute call about your situation. There is no credit pull and no commitment.