Home Loans and Mortgages
Planning on buying a house? Then you will likely need to apply for a mortgage. A mortgage is a specialized loan from the bank to buy your house. It is wise to get pre-approved for a mortgage before you start looking for a house so that you will know roughly how much the bank will approve you for.
When you get your mortgage, it is important that you shop around for the best interest rate. Although a one percent difference might not sound like a lot, when you look at one percent of $150,000, then you realize that one percentage increase or decrease will actually be worth thousands of dollars to you.
There are different ways of calculating a mortgage, which are explained on our types of mortgages page.