Shopping for a mortgage is the first step toward owning a home and perhaps the most daunting, especially if you are not prepared. Once a simple task that meant comparing fixed rates from among perhaps a dozen or fewer savings and loan companies, the mortgage hunt today is like finding your way through a maze. There are dozens of loan types and hundreds of loan programs available through thousands of mortgage brokers, bankers, lenders, finance companies, credit unions, even stock brokerage firms.

Nothing is worse in the buying process than getting ready to go to the closing table and discovering your mortgage agent is requiring more funds or more documentation before you can close, or that suddenly you are not approved for your loan. Your REALTOR can use his or her experience to guide you to the lender that best fits your needs, based on your income, credit rating, and finances.

Below is a helpful mortgage link with a convenient mortgage calculator to help you determine what you can afford and what your payments will be:

• Chase Home Finance – James Gross