Buying a home involves more than making a down payment. Buyers may also need money for lender fees, title charges, prepaid taxes, homeowners insurance, and other closing expenses. A seller concession can help reduce those upfront costs. However, seller concessions are not unlimited. The amount a seller may contribute depends on the mortgage program, property...
What Is a Tax Proration Credit? When buying a home in Illinois, you may notice a line item on your Closing Disclosure or Settlement Statement called a Tax Proration Credit. This is a credit from the seller to the buyer that helps account for property taxes that have accrued but have not yet been paid...
During the mortgage process, your lender will review your bank statements to verify your financial information. Sometimes, they may ask about a large deposit that appears in your account. This is a normal part of underwriting and happens often. What Is a Large Deposit? A large deposit is a deposit that is greater than 50%...
What Is a Credit Freeze? If you’re applying for a mortgage or loan, you may be asked to unfreeze your credit. For many people, this can feel confusing at first, especially if freezing your credit was something you did intentionally to protect yourself. A credit freeze, sometimes called a security freeze, is a way to...
When you purchase or refinance a home, one important decision is how ownership (title) is held. This affects your legal rights, inheritance, taxes, and even liability. While your attorney or financial advisor should guide your final decision, this overview will help you understand your options and what to expect. Common Ways to Hold Title There...
Last reviewed: July 2026. Dollar figures on this page apply to tax year 2026 (returns filed in 2027) and are adjusted for inflation each year. UnrealFi is a mortgage broker, not a tax advisor. This article is general information, not tax advice. Talk to a qualified tax professional about your specific situation. Homeowners hear a...
A cancelled check is a copy of a check that has already been processed by the bank. It includes important details that help verify a bank account for payments and reimbursements. This is most commonly required when submitting documentation for an Earnest Money Deposit (EMD). What Is a Cancelled Check? A cancelled check is a...
Applying for a Certificate of Error If you believe you were eligible for a Homeowner Property Tax Exemption in a previous tax year but did not receive it, you may be able to apply for a Certificate of Error. This process allows eligible homeowners to retroactively apply for missed exemptions and potentially receive a property...
If you receive Social Security benefits, you may be asked to provide official proof of your income for a mortgage application or financial review. The Benefit Verification Letter is an official document issued by the Social Security Administration (SSA) and is widely accepted by lenders. In this guide, we’ll show you exactly how to get...
When applying for a mortgage with UnrealFi, you may be asked to upload documents—such as bank statements, pay stubs, or signed disclosures—through our secure portal. Sometimes these files can be too large to upload, especially if they were scanned at high resolution. That’s where PDF compression comes in. In this guide, we’ll walk you through...
If you’ve been asked to sign documents as part of your mortgage application process, DocuSign offers a fast, secure, and fully digital way to complete them. Whether you’re reviewing disclosures, providing consent, or signing loan documents, DocuSign makes it simple to handle everything from your computer or mobile device. In this guide, we’ll walk you...
As crypto becomes more mainstream, many clients ask if they can use their cryptocurrency holdings—like Bitcoin or Ethereum—as part of their mortgage documentation. The good news is: yes, you can—but with conditions. This guide explains when and how crypto documents can be used to support your mortgage application and what lenders typically expect. What Crypto...
Thinking of buying your first home? That’s a big milestone — and you don’t have to go through it alone. If you’re using a mortgage backed by Fannie Mae or Freddie Mac, there’s a good chance you’ll need to take a homebuyer education course. But don’t worry — this course is designed to help, not...
When applying for a mortgage, you may be asked to provide documents showing your banking activity. But not all financial records are created equal. Two commonly confused documents are bank statements and transaction history printouts. While both show what’s happening in your account, they serve very different purposes. This guide breaks down the key differences,...
