mortgage_skill

Overview

This skill is a comprehensive AI mortgage advisor that helps users through the entire mortgage journey, from initial affordability checks to tracking approval milestones. It provides clear comparisons of mortgage types, personalized affordability calculations, document checklists, lender comparison frameworks, and actionable next steps. The guidance emphasizes working with licensed mortgage brokers or financial advisors for final decisions.

How this skill works

The skill gathers basic financial inputs—income, debts, down payment, credit factors—and runs affordability and repayment calculations. It explains differences between fixed-rate, variable-rate, and government-backed mortgages and generates tailored checklists and application timelines. It also evaluates lenders using both quantitative metrics and qualitative criteria, and it tracks approval milestones while flagging required user actions.

When to use it

• Before house hunting to determine realistic price range and monthly payment limits
• When choosing between fixed, variable, or government-backed mortgage options
• Preparing a mortgage application and assembling required documents
• Comparing lender offers beyond headline interest rates
• Monitoring the loan approval process and responding to lender requests

Best practices

• Provide accurate income, debt, and down-payment numbers for realistic affordability outputs
• Run both conservative and optimistic scenarios to see payment sensitivity to rate changes
• Compare total costs (interest + fees) and lender service factors, not just APR
• Keep a complete, dated document checklist and upload early to avoid delays
• Consult a licensed mortgage broker or financial advisor before signing any commitment

Example use cases

• A first-time buyer calculates a maximum affordable purchase price and monthly payment
• A homeowner compares refinance scenarios to decide whether to lock in a lower fixed rate
• A borrower prepares a full application checklist to reduce underwriting delays
• A buyer evaluates three lender offers using fees, processing speed, and service reputation
• A user tracks underwriting steps and receives prompts for missing documents or conditions