Home financing
Compare financing costs beyond the headline rate.
Review the payment, upfront costs and loan structure together before choosing a home loan.
Compare actual offers
Ask for comparable home-loan offers based on the same scenario. The CFPB recommends reviewing multiple Loan Estimates so you can compare the terms and costs. An online rate range is not a quote for your property or documentation.
Compare the loan amount and term, interest rate, monthly payment, upfront charges and cash needed to close. Check whether a rate is locked and whether the offers use the same assumptions.
Ask what changes the trade-off
Ask Luke to explain the actual options available for your documentation and property. Avoid assuming every non-QM option carries a fixed premium over another loan type.
If an offer exchanges a lower rate for more upfront cost, compare the added cost with the payment difference and how long you expect to keep the loan. Those inputs belong in a scenario, not an automatic recommendation.
Use your time horizon
A short-term payment goal and a long-term ownership plan may lead to different questions. Discuss how the balance and payment would change over time, what happens if your plans change, and which costs are included in the comparison.
- What would I pay at closing?
- How could the required payment change?
- What would I still owe at my expected exit?
- What costs or restrictions apply if I repay early?
Put this into your own scenario.
RESIDE
A home I’ll live in
Edge Home Finance, LLC
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