How to Get a Mortgage – Your Complete Guide to Home Financing

Understanding the mortgage process is crucial for homebuyers. A mortgage is a secured loan from a lender to purchase a home, with various types available, including conventional and government-backed loans like FHA, VA, and USDA loans. Key factors in qualifying for a mortgage include credit score and debt-to-income ratio. Preparation involves assessing financial health, saving for a down payment, and comparing lenders. The application process requires documentation and culminates in closing, where final costs are confirmed. Homeownership entails ongoing costs, so budgeting is essential.