Hi there. I am in the process of finding my first mortgage on my own, and I tell you there are a lot to learn!!! I feel that I am going to be lost, that is why I'm here, along with other forums. I'd just like to thanks sites like Finance Globe, Mortgage Brokers, and Remortgage Advice for all the help and tips that I'm seeing.

There are many types of mortgages such as: FHA, VA, Conventional, Contract for Deed, USDA Rural Development Loans, (State) Housing Finance Agency that issues loans, First Time Home Buyer to name but a few. Then you get into the fifteen and thirty year versions and ARMS with adjustable rates ... and on and on... One thing is your credit experiences. Lenders do look at your credit habits, income (verified today) ability to handle what level of house payment and it goes on. Usually they will look at principal, interest, taxes and insurances and then add to that any long term debt (student loans, car payments, boat payments and the like). Based on all this they will run the ratios to decide if you can support the proposed housing purchase. In my case they even wanted to know my past home ownership experiences. Each type of loan has it's own unique requirements. Today you need to pay very close attention to the housing market you are buying in and the price you will pay. You don't want to compete with "short" sales and foreclosures... Well I hope this gave you a broad overview. I am now working on purchasing my fifth home. Being current is a challenge. You will want to consider obtaining your half of title insurance and may want to have a home inspection so you know what you are getting. GADS! It is complicated.

Hi there. I am in the process of finding my first mortgage on my own, and I tell you there are a lot to learn!!! I feel that I am going to be lost, that is why I'm here, along with other forums. I'd just like to thanks sites like Finance Globe, Mortgage Brokers, and Remortgage Advice for all the help and tips that I'm seeing.