Action Steps
The best contacts and resources to help you get it done

Review mortgage information resources to learn about the different types of mortgages

Getting a mortgage is not as simple as walking into the bank and asking for one. There are several different types of mortgages, with varying rates and requirements. Learn what type is right for you based on your income and usage.

I recommend: Mortgage-X has a great mortgage reference information page that explains the different types of mortgages available to you as well as loan limits and examples to help you understand how much you may have to pay. If this seems a bit confusing to you, the Mortgage Mavin discusses some of the advantages and disadvantages of the different types of mortgages.

Use reference materials on mortgages to find a bank and common rates

Many banks offer mortgages, but you need to find the bank that is best for you. Compare the mortgage rates of different banks in order to get the lowest rate.

I recommend: It's best to start with a list of mortgage companies in your area. Localcitymortgage.com allows you to look at lists of mortgage companies by state. It's also important for you to know what the current rates on mortgages are. Use Bankrate.com to look at average mortgage rates throughout the country.

Stay up-to-date on mortgage issues with mortgage information magazines

If you're a business owner that invests in property, you need to pay more attention to what's going on in the mortgage industry. Sign up to receive magazines to stay current.

I recommend: Mortgage Banking can help you to learn about the industry, while Mortgage Originator Magazine can give you an insider's perspective.

Helpful advice for making the most of this Guide

• •  Study a range of reference materials on mortgages before you apply for a loan. Resources could include books, websites and magazines. This will give you a fuller picture of the industry.