Steve Hill, The Mortgage Scientist

Steve Hill, The Mortgage Scientist Former mathematician and astrophysicist 🚀
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NMLS 339606

08/07/2026

I just saw a wonderful example of a credit union labeling points as something else, which makes it seem like a homebuyer is getting a no points rate when in fact, there are additional fees for that lower rate. And that is the definition of points. It’s a little frustrating for me because I wish lenders were more transparent, but I do enjoy pointing these things out to people, so they can make more educated decision decisions in the future.

08/05/2026

This is a brand new program, a DSCR loan where any credit score works and any DSCR ratio. Sounds interesting, right? But there are some catches and it is interesting. What it reminds me of in the past.

08/04/2026

High credit score is awesome, and very helpful. It gets you a better interest rate, and a lower payment. And I recommend that for everybody. But it’s not the whole story. And it can’t compensate for lower income, unfortunately.

08/03/2026

Earnest money vs. down payment does provide some confusion for first time homebuyers. What is the earnest money deposit? Where does it go? Do I ever lose it? These are some of the questions I answered.

07/31/2026

Interest rate vs. APR is honestly one of the more confusing parts about the homeownership process.

I tried to explain this in the easiest way possible, but let me know if you have any other questions!

07/28/2026

What does a mortgage broker do?

07/20/2026

I had a client today was worried because her score went down by 11 points, and it is a concern that a lot of clients have. Because these credit score trackers work off engagement, so their goal is to keep you engaged with their product or app, not necessarily to give you the most truthful or useful notification.

And it’s something it’s really important to keep in mind. If you have 760 credit score or higher, you considered A+ and anything over that is gravy, but doesn’t really get you much.

FICO score versions
https://www.myfico.com/legal/fico-score-versions

07/20/2026

I definitely see banks hiding fees in a lot of different ways - in online advertisements, and especially in mailers. This is a quick and easy way I use to see how many fees are really packed into a bank’s offer.

07/18/2026

I got a question yesterday from a Financial Planner right now, why do banks advertise rates with points? And it was a fantastic question, and here’s my answer.

07/14/2026

The difference between down payment and total amount due a closing ends up confusing a lot of first time homebuyers. So I’m hoping this helps clarify some differences.

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