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The perfect home, but a perfect mortgage?

• Finding the perfect home is not easy, getting a mortgage to go with it is even harder. If you are like the vast majority of people and do not have the savings to pay for a home outright, you have little choice but to take out a loan.

  Getting the best mortgage takes time, effort and, above all research. Everyone wants the lowest interest rate and the smallest monthly payment but without knowing the ins and outs of mortgage lending few people are able to convince their banks to give them what they want.

• Banks and other lenders, after all, are in the business to make money and they do so on the interest and commissions you, the borrower, pay. And, though there may be perfect homes, never forget that there is no such thing as a perfect mortgage.

• Here are some guides to help you through the process:

• Flexible or fixed Before you start looking for a lender, you have to figure out what type of loan you are in the market for. There are two basic types: fixed-rate and adjustable-rate mortgages, known as ARMs. Read more	Finding lenders You’ve decided the loan you want. Now you have to find someone willing to give it to you. Start by comparing the rates offered by mortgage lenders. Make a selection of the ones that interest you the most. Read more
  Too big, too much Want to know how much home you can buy with the money you make and the savings you have? Look at yourself like a mortgage lender would and you’ll come up with a rough answer. Read more	Avoiding pitfalls A home is the single most expensive thing most of us will ever buy. That's why you need to put as much time and effort into finding a mortgage, and preparing yourself financially, as you do hunting for your house. Read more