“Loan term” often refers to how much time it takes a borrower to pay off their mortgage when making regular payments. Learn more about loan term options here.| Rocket Mortgage
Home equity is the value of the portion of your home you own. Discover the multiple ways to tap into that equity and how to calculate it.| Rocket Mortgage
A Loan Estimate lists the key details of a mortgage, like closing costs and interest rates. Find out what other critical loan terms and costs are in the form.| Rocket Mortgage
A VA home loan is a type of mortgage financing available to qualifying veterans and members of the military community. Discover VA loan requirements and how to apply.| Rocket Mortgage
USDA loans are affordable mortgage options for eligible home buyers in rural areas. Learn about how USDA financing works and their eligibility requirements here.| www.rocketmortgage.com
A down payment is the percentage of a home's purchase price you pay up front. Learn how down payments work and how much you should put down on a house.| Rocket Mortgage
Your loan-to-value ratio (LTV) measures your loan amount against the value of the home you're buying. Figure out how your LTV ratio is calculated.| Rocket Mortgage
Your debt-to-income ratio (DTI) measures your total income against any debt you have. Learn what a good DTI is, how to calculate it and how to lower it.| Rocket Mortgage
An FHA loan is a government-backed loan that allows you to buy a home with less strict financial requirements. Learn more about FHA loans and if you qualify.| Rocket Mortgage