As the mortgage landscape evolves, finding the best mortgage loans in Montana for 2025 requires careful consideration of various loan types, interest rates, and market trends. This comprehensive guide will provide you with an in-depth overview of mortgage options, eligibility criteria, and the financial implications of each type of loan available in Montana. Whether you are a first-time homebuyer, a seasoned investor, or someone looking to refinance, understanding the nuances of the mortgage market will empower you to make informed decisions. Let’s explore the best mortgage options tailored for your needs in 2025.

What Are the Best Mortgage Loans Available in Montana for 2025?

The best mortgage loans in Montana for 2025 encompass a range of options, including conventional, FHA, VA, and USDA loans. Each loan type caters to different financial situations and homebuyer needs, ensuring flexibility and accessibility.

Overview of Mortgage Loan Types

Montana borrowers have access to various mortgage loan types, each designed for specific needs. Conventional loans are popular for their straightforward terms, while FHA loans cater to first-time buyers with lower credit scores. VA loans are exclusive to veterans, providing favorable terms, and USDA loans support rural homebuyers with no down payment options. Understanding these types ensures you can choose the right fit for your financial situation.

Key Features to Consider

When selecting a mortgage loan, consider key features such as interest rates, loan terms, and eligibility requirements. The interest rate significantly affects overall mortgage costs, while the loan term impacts monthly payments. Additionally, understanding each loan type’s specific eligibility criteria will help you narrow down your options effectively.

Current Market Trends

The mortgage market in Montana as of 2025 is influenced by rising interest rates and changing economic conditions. Increased demand for housing, coupled with limited inventory, drives prices up, impacting affordability. Staying updated on these trends will help you strategize your mortgage application better.

How Do Interest Rates Impact Mortgage Loans in Montana?

Interest rates play a crucial role in determining the overall cost of mortgage loans in Montana. Higher rates can lead to increased monthly payments and total interest paid over the loan’s life, while lower rates can make borrowing more affordable.

Understanding Interest Rate Types

Interest rates can be categorized as fixed or adjustable. Fixed rates remain constant throughout the loan term, offering predictable payments. Conversely, adjustable rates fluctuate based on market conditions, which can lead to lower initial payments but increased costs in the long run. Understanding which type suits your financial situation is vital for long-term planning.

Historical Rate Trends

Historically, interest rates have fluctuated significantly based on economic conditions and Federal Reserve policies. In the past decade, rates reached historic lows, but recent hikes have raised concerns among borrowers. Analyzing historical trends provides insights into potential future movements, assisting you in timing your mortgage application.

Predictions for 2025

Forecasts indicate that interest rates may stabilize or rise slightly in 2025 as economic recovery continues. Experts predict that inflationary pressures combined with a recovering job market could influence rates. Staying informed on these predictions will help you decide the best time to secure your mortgage loan.

What Are Conventional Loans and Are They Right for You?

Conventional loans are traditional mortgage options not backed by government agencies, making them suitable for borrowers with strong credit histories and stable incomes. They typically offer competitive interest rates and terms.

Definition of Conventional Loans

A conventional loan is a type of mortgage that adheres to guidelines set by Fannie Mae and Freddie Mac. These loans are available in fixed or adjustable-rate formats and often require higher credit scores and down payments compared to government-backed loans. They are a popular choice for borrowers with solid financial profiles.

Pros and Cons

Pros of conventional loans include generally lower interest rates for qualified borrowers and fewer restrictions on property types. However, cons include higher credit score requirements and potentially larger down payments. Evaluating your financial situation is crucial in determining if a conventional loan is right for you.

Eligibility Requirements

Eligibility for conventional loans typically requires a credit score of at least 620, a stable income, and a debt-to-income ratio not exceeding 43%. Some lenders may have stricter requirements, so comparing offers is essential for potential borrowers.

What Are FHA Loans and How Do They Work?

FHA loans are government-backed loans designed to help low-to-moderate-income borrowers qualify for home financing with lower down payment requirements and more lenient credit standards.

Overview of FHA Loans

FHA loans are insured by the Federal Housing Administration and are aimed at making homeownership more accessible. They allow down payments as low as 3.5% and are often favored by first-time homebuyers. This insurance protects lenders against losses, making it easier for them to offer loans to higher-risk borrowers.

Benefits of FHA Loans

The primary benefits of FHA loans include lower down payment requirements and more flexible credit score thresholds. Additionally, FHA loans offer competitive interest rates, which can make them an attractive option for those with limited savings or imperfect credit histories.

FHA Loan Requirements in Montana

To qualify for an FHA loan in Montana, borrowers typically need a minimum credit score of 580 for the 3.5% down payment option. However, those with scores between 500-579 may still qualify with a 10% down payment. Understanding these requirements enables borrowers to prepare effectively for their mortgage application.

What Are VA Loans and Who Qualifies for Them?

VA loans are government-backed mortgages available to eligible veterans, active-duty service members, and certain members of the National Guard and Reserves. These loans provide various benefits, including no down payment and competitive interest rates.

Understanding VA Loans

VA loans are designed to assist veterans in purchasing homes without requiring a down payment. They are backed by the U.S. Department of Veterans Affairs, ensuring favorable terms. VA loans can be used for purchasing, building, or refinancing homes, making them versatile financing options for eligible individuals.

Eligibility Criteria

Eligible borrowers must meet specific service requirements, generally requiring at least 90 days of active service during wartime or 181 days during peacetime. Additionally, veterans must obtain a Certificate of Eligibility to confirm their eligibility for a VA loan. Understanding these criteria is essential for veterans seeking home financing.

Advantages of VA Loans

VA loans offer several advantages, including no down payment, no private mortgage insurance (PMI) requirements, and competitive interest rates. These features make VA loans an attractive option for veterans and service members, providing significant savings over the life of the loan.

What Is a USDA Loan and How Can It Benefit Rural Homebuyers?

USDA loans are designed to support homebuyers in rural areas, offering low-interest mortgages with no down payment. These loans aim to promote homeownership in less densely populated regions.

Overview of USDA Loans

USDA loans are guaranteed by the U.S. Department of Agriculture and aim to encourage homeownership in eligible rural areas. By offering 100% financing, USDA loans allow low-to-moderate-income borrowers to access affordable home financing without the burden of a down payment.

Eligibility Requirements

To qualify for a USDA loan, borrowers must meet specific income limits, typically not exceeding 115% of the median income for their area. Additionally, the property must be located in a designated rural area. Understanding these requirements is crucial for potential homebuyers in Montana considering USDA financing.

Pros and Cons of USDA Loans

The primary advantages of USDA loans include no down payment and lower mortgage insurance costs compared to FHA loans. However, potential downsides include geographic restrictions and income limitations. Evaluating these factors will help you decide if a USDA loan aligns with your homeownership goals.

How Does Your Credit Score Affect Your Mortgage Options?

Your credit score is a critical factor influencing your mortgage options, affecting the types of loans you qualify for and the interest rates you receive. A higher score generally leads to better loan terms.

Importance of Credit Scores

Credit scores reflect your creditworthiness and financial reliability, playing a significant role in mortgage approvals. Lenders utilize credit scores to assess risk, with higher scores indicating a lower likelihood of default. Borrowers with strong credit histories often secure more favorable loan terms, including lower interest rates.

How to Improve Your Score

Improving your credit score involves adopting several strategies, such as paying bills on time, reducing outstanding debts, and avoiding new credit inquiries. Regularly reviewing your credit report for errors and disputing inaccuracies can also enhance your score. These proactive steps can lead to better mortgage options when applying for financing.

Credit Score Requirements for Different Loans

Different loan types have varying credit score requirements. Conventional loans typically require a score of at least 620, while FHA loans may accept scores as low as 580. VA loans do not have a minimum credit score requirement, but lenders may impose their own criteria. Understanding these thresholds is crucial for tailoring your mortgage strategy.

What Are the Down Payment Options for Mortgage Loans in Montana?

Down payment options for mortgage loans in Montana vary by loan type and borrower circumstances. Understanding these options can help you plan your budget effectively and improve your chances of securing financing.

Traditional Down Payment Requirements

Traditional mortgages often require a down payment ranging from 5% to 20% of the home’s purchase price. A higher down payment can lead to lower monthly payments and reduced mortgage insurance costs, making it essential to evaluate your financial situation when considering a traditional loan.

Low Down Payment Options

Low down payment options are available through various loan programs, including FHA loans (3.5% down) and VA loans (0% down). These programs are designed to assist first-time homebuyers and those with limited savings. Understanding these options can help you navigate the mortgage process with confidence.

Down Payment Assistance Programs

Montana offers several down payment assistance programs to help eligible borrowers. These programs may provide grants or second mortgages to cover down payments or closing costs. Researching available assistance options can significantly reduce the financial burden of purchasing your home.

How Do Closing Costs Impact Your Mortgage Loan?

Closing costs represent the fees associated with finalizing a mortgage loan transaction, typically ranging from 2% to 5% of the purchase price. Understanding these costs is crucial for budgeting and securing financing.

What Are Closing Costs?

Closing costs include various fees such as loan origination fees, appraisal fees, title insurance, and attorney fees. These costs can add up quickly, impacting the overall affordability of your mortgage. Borrowers should be prepared for these expenses and factor them into their homebuying budget.

Typical Closing Costs in Montana

In Montana, typical closing costs range from 2% to 5% of the home’s purchase price, depending on the loan type and lender. Common costs include the title search, recording fees, and prepaid property taxes. Understanding these costs in advance allows you to plan effectively and avoid surprises at closing.

How to Estimate Closing Costs

Estimating closing costs involves reviewing the Loan Estimate provided by your lender, which outlines expected fees. Additionally, using online calculators can help estimate costs based on the home’s purchase price. Being informed about these expenses will enable you to budget more accurately for your mortgage transaction.

What Role Does Mortgage Insurance Play in Your Loan?

Mortgage insurance protects lenders in case of borrower default and is often required for loans with down payments less than 20%. Understanding its role is essential for budgeting your mortgage payments.

Types of Mortgage Insurance

There are two primary types of mortgage insurance: Private Mortgage Insurance (PMI) for conventional loans and FHA mortgage insurance premiums (MIP) for FHA loans. PMI is typically required when the borrower makes a down payment of less than 20%, while MIP is included in all FHA loans. Understanding these options will help you navigate mortgage costs effectively.

When Is Mortgage Insurance Required?

Mortgage insurance is generally required for loans with down payments below 20%. For FHA loans, MIP is mandatory regardless of the down payment amount. Understanding when mortgage insurance is required helps borrowers plan for additional monthly expenses and overall loan affordability.

Cost of Mortgage Insurance

The cost of mortgage insurance varies based on the loan type and down payment amount. For PMI, costs typically range from 0.3% to 1.5% of the original loan amount annually, while FHA MIP varies based on mortgage amount and term. Accurately assessing these costs is crucial for budgeting your mortgage payments.

How Can You Compare Different Mortgage Lenders in Montana?

Comparing mortgage lenders in Montana involves evaluating rates, fees, and customer service to find the best fit for your financial needs. A thorough comparison can lead to substantial savings over the life of your loan.

Factors to Consider When Choosing a Lender

When comparing lenders, consider interest rates, loan terms, fees, and customer service reputation. Additionally, assess the lender’s responsiveness and willingness to answer your questions. These factors will help you identify a lender that aligns with your needs and financial goals.

Top Lenders in Montana for 2025

As of 2025, several lenders stand out in Montana, including local credit unions, regional banks, and national mortgage companies. Researching lender reviews and obtaining quotes from multiple sources can help you identify the best options available for your specific needs.

How to Get Quotes from Lenders

Obtaining quotes from lenders involves providing essential financial information, such as income, credit score, and desired loan amount. Most lenders offer online applications or pre-qualification tools to facilitate the process. Getting multiple quotes allows you to compare terms and select the best mortgage option for your situation.

What Are the Advantages of Working with a Mortgage Broker?

Working with a mortgage broker can simplify the mortgage process by connecting you with various lenders and loan products, potentially saving you time and money. Brokers offer expertise and guidance throughout the application process.

Definition of a Mortgage Broker

A mortgage broker acts as an intermediary between borrowers and lenders, helping clients find suitable mortgage options. Brokers have access to various lenders and can negotiate favorable terms on behalf of the borrower. Understanding their role can help you leverage their expertise effectively.

Benefits of Using a Broker

Benefits of using a mortgage broker include access to a wider range of loan products, personalized service, and assistance in navigating the application process. Brokers can also save you time by finding competitive rates and terms tailored to your financial situation.

When to Consider a Broker

Consider working with a mortgage broker if you have unique financial circumstances, are a first-time homebuyer, or are seeking specialized loan products. Brokers can provide valuable insights and streamline the application process, making your homebuying experience more manageable.

What Are the Current Regulations Affecting Mortgage Loans in Montana?

Current regulations governing mortgage loans in Montana include both state-specific laws and federal guidelines. Understanding these regulations is essential for ensuring compliance and protecting your rights as a borrower.

State-Specific Regulations

Montana has specific regulations related to mortgage lending, including licensing requirements for lenders and disclosure obligations. These regulations aim to protect consumers and promote fair lending practices. Familiarizing yourself with these laws can help you navigate the mortgage process with confidence.

Federal Regulations

Federal regulations, such as the Truth in Lending Act and the Real Estate Settlement Procedures Act, mandate transparency and fair practices in the lending process. These laws require lenders to disclose key information, ensuring borrowers can make informed decisions. Understanding these regulations is vital for protecting your interests.

Impact of Regulations on Borrowers

Regulations can impact borrowers by ensuring fair treatment and access to clear information. While some regulations may increase costs or limit options, they ultimately aim to protect consumers and promote responsible lending. Staying informed about these regulations can enhance your mortgage experience.

How Do Economic Conditions Affect Mortgage Loans?

Economic conditions significantly influence mortgage loans, impacting interest rates, housing market trends, and borrower eligibility. Understanding these factors can help you make informed decisions regarding your mortgage financing.

Impact of Inflation on Mortgages

Inflation can lead to rising interest rates, which subsequently affects mortgage affordability. As the cost of living increases, lenders may adjust rates to mitigate risks, making borrowing more expensive. Staying informed about inflation trends can help you strategize your mortgage application timing.

Job Market Trends

The job market’s health directly influences borrowers’ financial stability and ability to qualify for loans. A strong job market typically correlates with higher home sales and increased mortgage applications, while economic downturns can lead to tighter lending standards. Monitoring job market trends can provide insights into mortgage availability.

Housing Market Conditions in Montana

The housing market in Montana is characterized by limited inventory and rising prices, driven by demand for rural properties. These conditions can affect affordability and competition among buyers. Understanding the local housing market is essential for strategizing your home purchase effectively.

What Are the Best Practices for Getting Approved for a Mortgage?

Best practices for mortgage approval involve preparing your finances, gathering necessary documentation, and understanding the application process. Implementing these strategies can enhance your chances of securing favorable loan terms.

Preparing Your Finances

Preparing your finances entails assessing your credit score, reducing debt, and saving for a down payment. Creating a budget and establishing financial goals will help you present a strong application to lenders. This preparation can significantly impact your mortgage approval chances.

Gathering Necessary Documentation

Essential documentation for mortgage applications typically includes proof of income, tax returns, credit reports, and asset statements. Collecting these documents in advance can streamline the application process and demonstrate your preparedness to lenders.

Understanding the Application Process

The mortgage application process involves submitting your financial information, undergoing credit checks, and waiting for lender approval. Familiarizing yourself with each step can alleviate stress and ensure you meet all requirements effectively. Understanding the timeline also helps you plan your home search accordingly.

What Are the Common Mistakes to Avoid When Applying for a Mortgage?

Avoiding common mistakes during the mortgage application process can save you time and money. Being aware of these pitfalls will help you navigate your financing journey more effectively.

Overlooking Pre-Approval

Many borrowers overlook the importance of obtaining a pre-approval before house hunting. Pre-approval demonstrates your seriousness to sellers and provides a clear budget for your home search. Skipping this step can hinder your chances of securing a desired property.

Ignoring Credit Reports

Ignoring your credit report before applying for a mortgage can lead to unexpected surprises during the approval process. Reviewing your credit report allows you to identify and rectify errors or discrepancies that could affect your score. This proactive approach can significantly improve your chances of securing favorable loan terms.

Not Comparing Loan Options

Failing to compare loan options can result in missing out on better rates and terms. Each lender offers unique products, and shopping around can lead to significant savings over the life of the loan. Take the time to gather quotes and evaluate your options thoroughly.

How Can First-Time Homebuyers Navigate the Mortgage Process?

First-time homebuyers can successfully navigate the mortgage process by following structured steps, utilizing available resources, and debunking common myths. This approach ensures a smoother transition into homeownership.

Steps for First-Time Homebuyers

The mortgage process for first-time homebuyers generally begins with assessing finances, obtaining pre-approval, and searching for suitable properties. Once a home is identified, the buyer can apply for a mortgage and proceed through the closing process. Understanding these steps can help new buyers feel more confident in their journey.

Available Resources and Support

First-time homebuyers in Montana can access various resources, including state and local housing programs, educational workshops, and online tools. These resources provide valuable information and support, helping new buyers make informed decisions throughout the homebuying process.

Common Myths Debunked

Common myths about homebuying often deter first-time buyers from pursuing their dreams. Myths such as needing a 20% down payment or perfect credit can be misleading. By debunking these misconceptions, first-time homebuyers can approach the mortgage process with realistic expectations and confidence.

What Is the Impact of Loan Term on Your Mortgage Payments?

The loan term significantly affects your mortgage payments, with longer terms resulting in lower monthly payments but higher total interest costs. Understanding the implications of different loan terms can guide your decision-making process.

Understanding Loan Term Options

Common loan terms include 15-year and 30-year mortgages. A 15-year term typically results in higher monthly payments but lower total interest costs, while a 30-year term offers lower monthly payments but higher cumulative interest. Assessing your budget and long-term financial goals is crucial in selecting the right term.

Short-Term vs. Long-Term Loans

Short-term loans, such as 15-year mortgages, can be beneficial for those seeking to pay off their homes quickly and save on interest. Long-term loans, on the other hand, provide flexibility for those who prefer lower monthly payments. Understanding your financial priorities will help you choose the best option.

How Loan Term Affects Interest

The loan term directly impacts the interest paid over the life of the loan. Longer terms generally result in higher total interest due to the extended repayment period. Evaluating how different terms affect your total mortgage costs will enable you to make a more informed decision.

What Are the Best Mortgage Loan Options for Investment Properties?

Investment property mortgage options include conventional loans, FHA loans, and portfolio loans. Each option presents unique terms and eligibility criteria, impacting your investment strategy.

Types of Loans for Investment Properties

Investment property loans can vary from conventional mortgages to alternative financing options such as hard money loans. Conventional loans are often preferred for their competitive rates, while hard money loans may offer quicker access to funds but at higher costs. Understanding these distinctions will help you select the most suitable financing for your investment goals.

Financing Options

Financing options for investment properties may include traditional mortgages, home equity loans, and cash-out refinancing. Each option has different implications for cash flow and overall investment strategy. Evaluating these options will help you align your financing with your investment objectives.

Risks and Rewards of Investment Loans

Investment loans come with inherent risks, including market fluctuations and potential vacancies. However, they can also yield substantial rewards through rental income and property appreciation. A thorough risk assessment will help you make informed decisions when financing your investment property.

How Do Refinancing Options Work in Montana?

Refinancing options in Montana allow homeowners to alter their existing mortgage terms, potentially lowering monthly payments or accessing equity. Understanding how refinancing works can yield significant financial benefits.

What Is Refinancing?

Refinancing involves replacing an existing mortgage with a new loan, often to achieve better terms or access equity. Homeowners may refinance to secure lower interest rates, reduce loan terms, or switch from an adjustable to a fixed-rate mortgage. Understanding this process can help you determine if refinancing aligns with your financial goals.

Benefits of Refinancing

Benefits of refinancing include potential savings on monthly payments, access to cash for home improvements, and consolidation of debt. By reducing interest rates or altering loan terms, refinancing can improve your overall financial situation. Assessing your current mortgage and future goals will guide your refinancing decision.

When to Consider Refinancing

Consider refinancing if interest rates drop significantly, your credit score has improved, or you wish to change your loan term. Monitoring market conditions and personal financial circumstances will help you determine the ideal timing for refinancing.

What Are the Tax Implications of Mortgage Loans in Montana?

Mortgage loans in Montana have specific tax implications, including potential deductions for mortgage interest and property taxes. Understanding these can impact your financial planning and homeownership costs.

Mortgage Interest Deductions

Mortgage interest deductions allow homeowners to deduct interest paid on their mortgage from taxable income. This deduction can significantly reduce your tax burden, making homeownership more affordable. Understanding eligibility and limits will enable you to maximize your tax benefits.

Property Tax Considerations

Property taxes in Montana can vary by location and are based on the assessed value of the property. Homeowners should be aware of local property tax rates and potential exemptions that may apply. Planning for property taxes is essential for comprehensive budgeting and financial planning.

Capital Gains Tax on Home Sales

Capital gains tax may apply when selling a home if the property appreciates in value. Homeowners may qualify for exemptions based on specific criteria, such as primary residence status. Understanding these tax implications can help you prepare for potential liabilities when selling your home.

How Can You Increase Your Chances of Getting a Better Mortgage Rate?

Improving your financial profile, timing the market, and negotiating with lenders can enhance your chances of securing a better mortgage rate. These strategies can lead to significant savings over the life of your loan.

Improving Your Financial Profile

Improving your financial profile involves enhancing your credit score, lowering debt-to-income ratios, and increasing savings. Taking proactive steps to improve your finances can lead to better mortgage options and lower interest rates. Focus on maintaining a healthy credit profile to maximize your chances of securing favorable terms.

Timing the Market

Timing the mortgage market can significantly impact the rates available at the time of application. Monitoring economic indicators, such as inflation and Federal Reserve decisions, can help you identify the most advantageous times to secure a mortgage. Staying informed about market trends is essential for optimizing your financing strategy.

Negotiating with Lenders

Negotiating with lenders can lead to better mortgage terms and rates. Presenting competitive offers from other lenders may encourage your chosen lender to match or improve their terms. Being prepared to negotiate is a critical skill that can result in substantial savings over time.

What Are the Resources for Homebuyers in Montana?

Montana homebuyers have access to numerous resources, including state and local housing programs, non-profit organizations, and online tools. Utilizing these resources can facilitate a smoother homebuying experience.

State and Local Housing Programs

Montana offers several state and local housing programs designed to assist homebuyers, including down payment assistance and affordable loan options. These programs can provide financial support and guidance, making homeownership more achievable. Researching available programs will empower you to leverage these resources effectively.

Non-Profit Organizations

Non-profit organizations in Montana often provide educational resources and support for homebuyers. These organizations may offer workshops, counseling, or financial assistance to help you navigate the homebuying process. Engaging with these groups can enhance your knowledge and preparedness as a homebuyer.

Online Tools and Calculators

Online tools and calculators can assist homebuyers in budgeting and planning for their mortgage. These resources can help you estimate monthly payments, closing costs, and potential savings from different loan options. Utilizing these tools will enhance your financial literacy and decision-making capabilities.

How Can You Stay Informed About the Mortgage Market in 2025?

Staying informed about the mortgage market in 2025 involves following reputable news sources, utilizing market analysis tools, and participating in homebuyer workshops. This knowledge will empower you to make informed decisions regarding your mortgage.

Recommended News Sources

Reputable news sources such as financial publications, real estate blogs, and government reports provide valuable insights into the mortgage market. Subscribing to newsletters and following these sources on social media will keep you updated on industry trends and changes that may affect your financing options.

Market Analysis Tools

Market analysis tools, including mortgage calculators and trend analysis platforms, can provide insights into current mortgage rates and housing market conditions. Utilizing these tools enables you to assess your financial situation accurately and make data-driven decisions regarding your mortgage.

Joining Homebuyer Workshops

Participating in homebuyer workshops offers educational opportunities to learn about the mortgage process, financing options, and local market conditions. These workshops often provide networking opportunities with professionals in the industry. Engaging in these events can enhance your knowledge and confidence as a homebuyer.

Mini FAQ

What is the minimum credit score for FHA loans in Montana? The minimum credit score for FHA loans is typically 580, allowing for a 3.5% down payment.

Are VA loans only for veterans? Yes, VA loans are available to eligible veterans, active-duty service members, and certain National Guard members.

What is the benefit of working with a mortgage broker? A mortgage broker can access various lenders, negotiate terms, and simplify the mortgage application process.

How much are closing costs in Montana? Closing costs in Montana typically range from 2% to 5% of the home’s purchase price.

Can I refinance my mortgage without a penalty? Many lenders allow refinancing without penalties, but it’s essential to review your current mortgage terms.

What are the benefits of USDA loans? USDA loans offer no down payment options and lower mortgage insurance costs for eligible rural homebuyers.

How can I improve my chances of getting a better mortgage rate? You can improve your chances by enhancing your credit score, negotiating with lenders, and timing your application to market conditions.