7.28%
Snapshot dated October 1, 2026. Interest rate—not APR or a lender offer.
Powered by Cornerstone First Mortgage · NMLS #173855
Purchase · Refinance · Home equity
A better path
to your next home.
Understand your options. Know the guidelines. Build a mortgage plan that fits your next chapter.
Robert Krowel · NMLS #213875
Powered by Cornerstone First Mortgage · NMLS #173855
First-time buyersExplore your starting point.
Your next homePlan financing for your move.
Refinance optionsCompare costs and potential benefits.
Equity & investmentUnderstand specialty financing.
Market perspective
Know the numbers.
Then find your rate.
National averages provide context. Your quote depends on your credit, property, loan program, down payment, points, and lock timing.
6.60%
Snapshot dated October 1, 2026. Interest rate—not APR or a lender offer.
Your scenario.
Your personalized quote.
Compare rate, APR, points, closing costs, and estimated monthly payment.
Request my quote →Source: Freddie Mac PMMS, October 1, 2026. Dated weekly averages for conventional, conforming purchase loans, generally with excellent credit and 20% down. These cards do not automatically update. View the latest published rates →
Loan programs & qualification guidelines
Find your fit.
Understand what it takes.
Click a loan product to see what it is, its qualification guidelines, and where individual lenders may require more.
Program guidelines versus lender requirements: Lenders may apply additional requirements—often called lender overlays—including higher credit scores, lower debt ratios, more equity, or additional reserves.
Meeting a minimum does not guarantee approval. Specialty financing has lender-specific rules rather than a universal agency minimum. Availability must be confirmed for your transaction.
DTI: debt-to-income
Qualifying monthly debt payments divided by qualifying gross monthly income.
LTV: loan-to-value
Loan amount divided by the property value used for underwriting. Combined LTV includes additional liens.
Reserves
Eligible funds remaining after closing, sometimes measured in months of housing payments.
01 / EVERYDAY FLEXIBILITY
Conventional loans
Purchase and refinance financing for eligible primary homes, second homes, and investment properties.
What is this loan?
A mortgage not insured by FHA or guaranteed by VA or USDA. Conforming programs follow applicable Fannie Mae or Freddie Mac requirements.
Program guidelines
- Down payment: As low as 3% for eligible primary-home programs. Other transactions require more.
- Credit: Fannie Mae manual underwriting generally requires at least 620 for fixed-rate loans and 640 for ARMs, subject to its matrix and exceptions. Desktop Underwriter evaluates overall credit risk without one universal minimum score. Freddie Mac rules differ.
- DTI: Fannie Mae manual underwriting generally permits 36%, or up to 45% with required credit and reserves. Desktop Underwriter permits up to 50%, subject to approval.
- Property: Eligible occupancy and unit count; applicable conforming limits apply.
- Insurance: Mortgage insurance generally applies to purchases above 80% LTV.
Documents
Income records, assets, identification, purchase or refinance documents, and tax returns when required.
Discuss conventional financing →
02 / FIRST HOME & BEYOND
FHA loans
Government-insured financing with low down payment options.
What is this loan?
A mortgage insured by the Federal Housing Administration and made by an approved lender.
Program guidelines
- 580 or higher: FHA permits maximum financing, generally requiring at least 3.5% down on a purchase.
- 500–579: Financing is limited to 90% LTV, generally requiring at least 10% down.
- Below 500: Not eligible under the scored-borrower minimum. Separate rules apply to borrowers without a score.
- DTI: Automated and manual underwriting rules differ. Higher ratios require qualifying findings or applicable compensating factors.
- Occupancy: Generally a primary residence, subject to exceptions.
- Property: FHA appraisal, condition standards, and applicable loan limits.
- Insurance: Upfront and annual mortgage insurance apply.
Documents
Income, assets, identification, property information, and eligible gift documentation if applicable.
Discuss FHA financing →
03 / MILITARY & VETERANS
VA loans
Financing for eligible veterans, service members, and certain surviving spouses.
What is this loan?
A mortgage backed by the Department of Veterans Affairs through a participating lender.
Program guidelines
- Eligibility: Certificate of Eligibility and sufficient entitlement.
- Credit: VA sets no minimum credit score. Satisfactory credit and lender approval remain required.
- Down payment: May be 0% with sufficient entitlement, acceptable valuation, and lender approval.
- DTI: 41% is a VA benchmark, not an absolute ceiling. Higher ratios require appropriate review.
- Residual income: Requirements depend on factors including region and family size.
- Property: VA occupancy, appraisal, and minimum property requirements apply.
- Costs: No monthly mortgage insurance. Funding fee may apply unless exempt.
Documents
COE or information to obtain it, service records when needed, income, assets, and property documents.
Discuss my VA options →
04 / ELIGIBLE COMMUNITIES
USDA loans
Primary-home financing in qualifying rural and suburban areas.
What is this loan?
The USDA Guaranteed Loan Program backs mortgages made by participating lenders. USDA Direct loans are a separate program.
Program guidelines
- Down payment: Eligible transactions may receive 100% financing, subject to valuation and rules.
- Location: USDA-eligible property address.
- Income: Adjusted household income within applicable limits, generally based on 115% of area median income and household size.
- Credit: No single universal USDA minimum score; acceptable credit and repayment ability required.
- DTI: Standard benchmarks are 29% housing and 41% total debt. Automated findings or permitted exceptions can affect eligibility.
- Occupancy: Primary residence, not an investment or vacation home.
- Fees: Guarantee and annual fees may apply.
Documents
Household income, qualifying income, assets, identification, and property address.
Check USDA options →
05 / HIGHER LOAN AMOUNTS
Jumbo loans
Financing above the conforming limit applicable to your property.
What is this loan?
A mortgage exceeding the applicable conforming limit for the property's location and unit count.
Lender-specific guidelines
- Credit: Lender score matrix; no universal jumbo minimum.
- Down payment: Based on loan size, occupancy, credit, property, and maximum LTV.
- DTI: Lender-specific ceiling and income rules.
- Reserves: Multiple months of payments may be required after closing.
- Valuation: Additional appraisal review may apply.
Documents
Income, tax records when required, asset and reserve statements, and property documents.
Discuss jumbo financing →
06 / PLAN YOUR TIMELINE
Fixed-rate & ARM options
Compare rate stability with an initial fixed period followed by adjustments.
What is the difference?
A fixed-rate loan keeps its interest rate for the term. An ARM changes according to its index, margin, adjustment schedule, and caps.
Qualification guidelines
- Program: Underlying conventional, government, or jumbo rules apply.
- Qualifying payment: ARM underwriting uses the required qualifying rate, which may exceed the starting rate.
- Disclosures: Review fixed period, index, margin, caps, and potential payment changes.
- Credit example: Fannie Mae manual ARMs generally require at least 640, subject to matrix requirements and exceptions.
Documents
Income, assets, property information, and ARM disclosures when applicable.
Compare rate structures →
07 / REVIEW YOUR MORTGAGE
Rate & term refinance
Change your interest rate, repayment term, or mortgage structure.
What is this refinance?
A replacement mortgage generally intended to change rate or term without substantial cash back.
Qualification guidelines
- Credit and DTI: Selected loan program rules apply.
- Equity: Must fit applicable refinance LTV limits.
- History: Acceptable mortgage payments and required seasoning.
- Valuation: Appraisal or eligible waiver when permitted.
- Cash back: Program-specific limits determine refinance classification.
Documents
Mortgage and lien statements, income, assets, insurance, and property information.
Review my refinance →
08 / PUT EQUITY TO WORK
Cash-out refinance
Replace your mortgage and access eligible equity in cash.
What is this refinance?
A new mortgage paying off existing liens and providing eligible remaining proceeds after closing costs.
Qualification guidelines
- LTV: Depends on program, occupancy, unit count, and lender.
- Credit and DTI: Applicable cash-out underwriting rules.
- Seasoning: Ownership and existing mortgage age rules may apply.
- Valuation: Must support the new balance.
- Liens: Existing mortgages and required liens must be addressed.
Documents
Loan statements, income, assets, insurance, title, and valuation information.
Explore cash-out options →
09 / HOME EQUITY
HELOC & equity loans
Compare revolving credit with a lump-sum home equity loan.
What are these loans?
A HELOC is a home-secured credit line. An equity loan usually provides a lump sum with scheduled repayments.
Lender-specific guidelines
- Credit: Lender minimum and credit history rules.
- Combined LTV: Existing liens plus proposed borrowing must fit lender limits.
- Income: Documented ability to repay and acceptable DTI.
- Property: Eligible occupancy, valuation, and lien position.
- HELOC terms: Draw period, repayment period, and rate structure vary.
Documents
Mortgage statements, income, insurance, and required valuation or asset records.
Compare equity options →
10 / SELF-EMPLOYED BORROWERS
Bank statement loans
Alternative income review for eligible business owners.
What is this loan?
A specialty program using eligible bank deposits to evaluate self-employed income under lender-specific rules.
Lender-specific guidelines
- Statements: Required consecutive history specified by lender.
- Business: Self-employment duration and ownership verification.
- Income: Ineligible deposits and transfers excluded; expenses considered.
- Credit and LTV: Lender matrix applies.
- DTI and reserves: Program-specific requirements.
Documents
Statements, ownership records, expense documentation, assets, and identification.
Discuss self-employed financing →
11 / INVESTMENT PROPERTY
DSCR loans
Financing focused on rental income and property debt payments.
What is this loan?
Debt service coverage ratio programs compare qualifying rent with specified property debt payments.
Lender-specific guidelines
- Use: Eligible business-purpose investment property.
- Ratio: A 1.00 DSCR means rent equals the payment used in that calculation. Required ratios and formulas vary.
- Credit and LTV: Lender-specific matrix.
- Reserves: Post-closing funds may be required.
- Rental type: Long-term and short-term eligibility differs.
- Ownership: Entity and guaranty rules may apply.
Documents
Lease or rent analysis, appraisal, insurance, assets, and entity records when applicable.
Discuss investor financing →
12 / BUILD OR RENOVATE
Construction & renovation
Financing for eligible building and improvement projects.
What is this financing?
Construction loans finance new builds. Renovation programs finance eligible improvements, potentially with a purchase or refinance.
Qualification guidelines
- Program: Conventional renovation, FHA 203(k), and construction rules differ.
- Borrower: Underlying credit, income, equity, and reserve requirements.
- Project: Approved scope, plans, budget, and timeline.
- Contractor: Must meet program and lender standards.
- Valuation: Supported completed value.
- Funding: Draws, inspections, and contingency rules apply.
Documents
Plans, contract, budget, contractor records, permits when required, and borrower financial records.
Discuss my project →
13 / DOWN PAYMENT HELP
Down payment assistance
Explore eligible help with down payment or closing costs.
What is this assistance?
A grant, forgivable loan, deferred loan, or repayable second mortgage offered under a specific program.
Program-specific guidelines
- Income: Applicable household or borrower limits.
- Location: Eligible service area and property.
- Buyer status: First-time buyer rules may apply.
- Mortgage: Approved lender and eligible first mortgage.
- Education: Required course or counseling when applicable.
- Occupancy: Primary-home requirements.
Documents
Income, assets, purchase contract, mortgage documents, and education certificate when required.
Check assistance options →
14 / EXISTING FHA & VA LOANS
Streamline refinance
Special refinance options for existing qualifying mortgages.
What are these programs?
FHA Streamline and VA IRRRL are separate programs. IRRRL means Interest Rate Reduction Refinance Loan.
Program guidelines
- Existing loan: FHA-to-FHA or VA-to-VA as applicable.
- Seasoning: Required payment count and elapsed-time tests.
- Benefit: Applicable borrower benefit requirements.
- History: Program-specific mortgage payment rules.
- Occupancy: FHA and VA requirements differ.
- Documentation: Reduced documentation may be permitted; exceptions and credit-qualifying transactions differ.
Documents
Existing loan records, payment history, identification, and additional required documentation.
Review streamline options →
15 / HOMEOWNERS AGE 62+
Reverse mortgage options
Evaluate home equity borrowing as part of retirement planning.
What is this loan?
A reverse mortgage provides eligible equity borrowing. These guidelines describe FHA-insured HECMs; proprietary programs differ.
HECM guidelines
- Age: Borrowers at least 62; non-borrowing spouse rules are separate.
- Equity: Sufficient equity and eligible funds to satisfy existing liens at closing.
- Occupancy: Principal residence.
- Counseling: HUD-approved counseling required.
- Financial assessment: Ability to meet property charges; a set-aside may be required.
- Property: Eligible home meeting applicable standards.
- Ongoing duties: Taxes, insurance, maintenance, and occupancy remain.
Documents
Age and identity records, mortgage and title details, financial and property-charge records, and counseling certificate.
Discuss reverse mortgages →Guideline summary dated October 5, 2026. Not a complete underwriting manual or approval decision. Confirm current requirements and availability.
Program references: Fannie Mae · FHA · VA · USDA · Reverse mortgages
Make the numbers clearer
Estimate your monthly payment.
Explore a fixed-rate scenario including property taxes, insurance, mortgage insurance, and HOA dues.
Enter mortgage insurance when applicable. Excludes closing costs, points, upfront program fees, and special assessments. Does not model ARM changes or reverse mortgages.
Estimated monthly cost
— / month
Principal & interest—
Property taxes—
Homeowners insurance—
Mortgage insurance—
HOA dues—
Base loan amount—
Down payment percentage—
Select Calculate payment. If no result appears, WordPress may have removed the calculator script.
Planning estimate—not a quote, approval, qualification result, or commitment to lend. Actual costs may differ.
Discuss my payment →
A clear path forward
From your first question
to your next step.
Start with your goals, then compare the complete mortgage picture.
01
Share your plans
Buying, refinancing, investing, or exploring equity.
02
Review eligibility and pricing
Understand program rules, lender requirements, payment, APR, and costs.
03
Prepare your application
Gather documents through an approved secure channel.
Answers before decisions
A little clarity goes a long way.
Common questions about qualification and mortgage costs.
Why can a lender require more than the program minimum?
Lenders can apply additional underwriting requirements. These overlays may involve credit scores, debt ratios, reserves, property eligibility, and documentation.
Does meeting a minimum guarantee approval?
No. Underwriting considers the full application, including credit, income, debts, assets, property, and applicable requirements.
Do I always need 20% down?
No. Eligible conventional programs may permit 3%, FHA may permit 3.5% with qualifying credit, and eligible VA or USDA transactions may permit no down payment. Other requirements and costs apply.
What is the difference between rate and APR?
The interest rate determines interest charged on the balance. APR expresses an annualized cost including interest and certain financing charges. Compare both alongside points and terms.
Will the market average be my rate?
No. The displayed averages are dated benchmarks, not offers. Your pricing depends on your transaction and lock choices.
Does refinancing to a lower payment always save money?
No. A longer term can reduce the payment while increasing total interest. Compare closing costs, lifetime costs, and your break-even timeline.
Your next chapter
Let’s build a mortgage
plan for your goals.
Tell us what you’re considering. Explore available programs, qualification requirements, and next steps.
01
Buying a home
Explore financing and cash needed.
02
Reviewing your mortgage
Compare refinance and equity scenarios.
03
Planning an investment
Ask about eligible specialty programs.
Robert Krowel · NMLS #213875
Powered by Cornerstone First Mortgage · NMLS #173855
Start your conversation.
Tell us about your purchase, refinance, or home equity goals.
Form not displaying? Open the inquiry form →
Please do not submit Social Security numbers, bank account details, or financial documents through a general inquiry form. Communication permissions are governed by the choices and disclosures presented in the form.
Read our Privacy Policy and Terms of Service.
Website information
Privacy & terms.
Read about website inquiries, external services, and the use of mortgage information and estimates.
Privacy Policy
Website policy draft · Prepared October 6, 2026
1. Scope
This policy describes the handling of information associated with this ClosePath Mortgage website and its inquiry features. The website identifies Robert Krowel, NMLS #213875, and is presented as powered by Cornerstone First Mortgage, NMLS #173855. Separate financial privacy notices and transaction disclosures may apply to mortgage applications and customer relationships.
2. Information submitted through inquiries
When you use an inquiry form, the information collected depends on the fields presented and the details you choose to provide. This may include your name, contact information, mortgage interests, and messages. Please do not include Social Security numbers, account credentials, bank account numbers, or financial documents in a general inquiry.
3. Website and technical information
Website hosting, WordPress components, embedded services, and external image providers may receive technical information such as IP address, browser type, request time, and the page or resource requested. Cookies or similar technologies may be used by the website platform or embedded providers. Their operation depends on the services enabled on the site.
4. Mortgage calculator
The payment calculator included in this page performs its calculations within your browser. This calculator code does not itself send the amounts entered to a server or submit them as a mortgage inquiry. Other website components and third-party services have separate data practices.
5. Use of inquiry information
Information submitted in an inquiry may be used to respond to your request, discuss relevant financing options, arrange follow-up, and support an application process you choose to begin. Communication permissions are subject to the actual disclosures and selections in the inquiry form and applicable law.
6. Embedded forms and external services
The inquiry form is hosted at closepathai.com and displayed through an embedded frame. Information submitted through it is processed by the form service and made available to the recipient configured for that form. The ClosePath AI login link opens a separate service. External services may have their own privacy policies and terms; review those before submitting information.
7. Sharing and financial privacy notices
Depending on the service requested, information may need to be handled by the inquiry recipient, an applicable mortgage lender, authorized service providers, or parties involved in processing a transaction. Any applicable sharing practices, exceptions, and opt-out rights for nonpublic personal financial information should be explained in the relevant lender's financial privacy notice. This website policy does not replace that notice.
8. Communication choices
You may ask the recipient of your inquiry to stop optional follow-up communications. Use an unsubscribe method or other contact instruction provided in the communication, where available. Visiting this website or reading these terms does not by itself provide consent to automated marketing calls or texts.
9. Security and retention
No internet transmission is guaranteed to be secure. Use the approved secure application or document channel for sensitive financial records. Retention of mortgage-related information can be subject to legal, regulatory, operational, and recordkeeping requirements. Ask the relevant recipient for its applicable security and retention practices.
10. Privacy questions and requests
For questions concerning information submitted through this website, use the inquiry form and identify your message as a privacy question or request. Do not include sensitive identifying documents. Rights and exceptions may depend on your location, the information involved, and applicable financial privacy laws.
11. Updates
This policy may be updated to reflect changes to the website or its information practices. Review the displayed version before submitting a new inquiry. Material changes should be reflected in the applicable notices when required.
Terms of Service
Website terms draft · Prepared October 6, 2026
1. Website purpose
This ClosePath Mortgage website provides general mortgage information, educational program summaries, planning estimates, and an inquiry channel. Robert Krowel is identified as NMLS #213875. The website is presented as powered by Cornerstone First Mortgage, NMLS #173855.
2. No loan approval or commitment
Website content, inquiries, calculators, and guideline summaries do not constitute loan approval, a rate lock, a binding loan offer, or a commitment to lend. A mortgage transaction remains subject to a completed application, required disclosures, verification, underwriting, property review, and applicable conditions.
3. Program guidelines and availability
Guidelines are summaries, not complete underwriting manuals. Agencies and lenders may change requirements. Lender overlays may impose additional restrictions. Products may not be offered in every location or for every borrower or property. Confirm availability and current requirements before relying on a program description.
4. Rates, fees, and estimates
Displayed market averages are dated national benchmarks, not personalized offers. Interest rates are not the same as APR. Pricing can depend on credit, loan amount, property, occupancy, equity, points, and lock timing. Calculator results are estimates and may omit costs or differ from the final payment.
5. No individual professional advice
General website information does not replace advice based on your individual circumstances. Consult appropriate mortgage, legal, tax, or financial professionals when making decisions.
6. Inquiries and communication permissions
Submit accurate information that you are authorized to provide. Do not submit another person's confidential information without authority. Any communication permissions must come from the applicable form disclosures and your selections; these website terms do not independently authorize automated marketing contact.
7. External services
Links and embedded services, including the ClosePath inquiry form and ClosePath AI login, may operate under separate terms and privacy practices. Opening the login link does not establish that you are approved for a mortgage or that a mortgage account has been created.
8. Acceptable use
Do not use this website for unlawful activity, impersonation, abusive submissions, unauthorized access, malicious code, or attempts to interfere with its operation. Do not submit sensitive documents through a general inquiry channel.
9. Website content
Use website content for personal evaluation of financing options. Ownership and permitted use of third-party materials, logos, photographs, and linked content are governed by their respective owners and applicable licenses.
10. Accuracy and availability
Information may become outdated or contain errors. Confirm material details through official program sources and transaction disclosures. Website access and third-party services may be interrupted. Nothing in these terms limits rights or obligations that cannot be waived under applicable law.
11. Mortgage documents control
If you proceed with financing, the applicable signed agreements, required disclosures, and governing law determine the transaction. A general website statement does not amend those documents.
12. Questions and changes
Use the inquiry form for website questions. These terms may be revised as the website changes. Review the displayed version when using its features.