Mortgage lenders are financial institutions that lend money to people so they can buy a property that they can’t yet afford, but should be able to by the end of a mortgage term. Once you have decided you are interested in buying a home and before you actually begin the home purchase, it is a good idea to get an overview of home buying and homeownership.
There are important factors in a mortgage loan package that will determine whether you can afford the house, you want. The most important of these are the interest rate, Points, Mortgage Type (fixed rate, adjustable rate, balloon etc.), Closing costs and fees, and Down payment and mortgage insurance. Read more »

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