The First-Time Buyer's
Mortgage Survival Guide

Before you mentally move into that dreamy two-bedroom, ask your wallet if it's ready to come too.

Your real estate agent says, "Use my guy. He's great." Your bank says, "Use us. You already bank here." Your lender says, "Rates are rising. Lock in now."

But here's the truth: Everyone gets paid when your deal closes. Only one person cares if the deal is actually good. You. 🤔

That's why Approval AI exists. We don't take kickbacks. We're not a lead-gen tool. We don't sell your info. We don't fake "personalized quotes" then hand you off to a dozen hungry salespeople. 🛡️

We work for you. Period. 💪

It should be simple: Get quotes from a few lenders. Compare. Pick the best deal. Done.

But most borrowers never shop around. Why? Because lenders make it feel impossible. They demand 20+ documents just to talk. They hate being shopped. They ghost, stall, or worse: bait and switch.

That's it. No paystubs. No W-2s. No blood samples. 🧪

Despite the simplicity, many borrowers don't shop around. A study found that 54% of homebuyers received only one loan offer. This lack of comparison can be costly. 💸

You might've heard this myth: "Don't apply with multiple lenders or your credit score will tank." Here's the truth: Credit agencies know you're rate shopping.

When it comes to mortgages, multiple hard inquiries within a short time frame count as just one for your credit score. According to FICO, if you apply for several mortgages within a 45-day window, they treat it as a single inquiry so it won't stack up and crush your score.

Why? Because comparison shopping is smart, not risky. So go ahead: get those quotes. Compare. Negotiate. Your score's got armor for this. 🛡️

There are two perfect windows to shop for a mortgage:

No flying blind. No bait-and-switchers. Just leverage.

Not your agent. Not the lender. Not the seller. They all want your deal to close: fast, quiet, and with zero questions asked.

But here's what they won't tell you:

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  Many lender quotes are padded with discount points.
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  Some only show you the interest rate, not the full APR.
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  Others sneak in last-minute fees, hoping you're too busy to notice.
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  And some even have APR requirements you can't meet, then make it a nightmare to back out.

Approval AI sees through the games. We shop aggressively, decode quotes, negotiate fees, and protect you from lenders who play dirty. 🕵️‍♂️

Not all lenders play fair. Some promise you the moon, then quietly swap in a toaster.

Approval AI watches for all of it. We keep receipts, so if a lender messes with you, we flag it fast. And if they break trust? They're out. We don't keep shady lenders in our network. Ever. ⚖️

Let's talk about the big decision: Fixed-rate vs. Adjustable-rate mortgages (ARMs).

A fixed-rate mortgage is the comfort-food option. Your interest rate, and monthly payment, stays the same for the life of the loan. It's steady, predictable, and great if you plan to stay put for a long time.

An ARM, on the other hand, starts with a lower rate for the first 5, 7, or 10 years. After that, it adjusts, usually once a year, based on the market. That means it could go up... or way up.

So why would anyone pick an ARM? Because if you know you'll move or refinance before the rate adjusts, you could save a lot upfront. But ARMs aren't for the faint of heart. If you're not careful, your "dream home" could come with surprise payments down the line.

Approval AI helps you run the numbers, not the risks, so you can choose what's right without guessing. 📊

You found a dream home on Zillow. Your budget said yes. The lender? Said LOL.

Welcome to the party-pooper of mortgage math: DTI: Debt-to-Income Ratio. It's the percentage of your gross monthly income that goes toward monthly debts (like student loans, car payments, and your soon-to-be mortgage).

Most lenders cap it around 43%, though some go a bit higher with strong credit. Approval AI calculates your DTI in real-time, so you know what you actually qualify for before you fall for that $1.2M charmer with a wine fridge and a reality TV price tag. 🏰

At some point, you'll feel:

That's normal. Buying a home is an emotional whiplash with paperwork. Approval AI doesn't pressure you. We educate, advocate, and protect, so you can breathe, make decisions confidently, and maybe even enjoy this once-in-a-lifetime ride. 🎢