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For the first time home buyer, approaching a local bank for a loan can be intimidating as the fateful moment of truth hinges on a simple 'yes' or 'no' from your mortgage lender.

But no worries. Making the long-held dream of buying a new home all depends on how well-armed you are with knowledge, along with the benefit of experience from mortgage experts to help you avoid common mistakes made by first-time buyers.

Once you become familiar with credit reports and scores, the real costs of owning a home, and how to compare mortgage rates - the next logical step to securing your home loan includes how to get the best home loan possible to save big over the long term, and finding out exactly what the documents and mortgage payments mean.

Around the Web, get a crash course in mortgage jargon, find online calculators to estimate costs, discover the zen of loan applications, and generally get your feet wet before you plunge into that home loan application — with the help a step-by-step Web guide to home financing ...


Information & how to's about mortgages & home loans around the Web:

Mortgage Loan.com - Online since 1995, these folks have advice and calculators for the widest range of mortgage options. Info on mortgages by state, rates to expect if you have bad credit, jumbo mortgages if you're in the market for a home costing over $350,000, reverse mortgages, so much more...go calculate! Thanks to David for suggesting the site from his personal bookmarks...

Mortgages and Home Loans Guide - Deciphering mortgage loan-speak to make your mortgage options clear and familiar before you start shopping in this foreign territory of brokers, bankers and accountants—with a complete list of mortgage terms from acceleration to wraparounds...

Mortgage 101 - Get a college education in home financing with guides to down payments, credit reports, home insurance and appraisals, including related news, searchable database of mortgage rates, and a collection of interactive financial calculators.

AARP: Reverse Mortgage - A comprehensive guide to the popular equity loan clearly explained in several feature articles and including a glossary of terms, online calculators.

LoanPage Reference Desk - A searchable database of mortgage terms, Q&A, a guide to loan applications and a listing of mortgage insurance agents in the U.S., Canada and Australia.

HSH Associates - Free and fee-based info on mortgages and loans, rates and closing costs and check out the online financial calculators for estimates on savings of prepayment, credit grade, amortization, metric converters and more.

Applying for a Loan - The Ginnie Mae guide covering the required paperwork, criteria for loan applications, getting approval, the reasons you may not be approved and what to do if you aren't.

Information on the VA Home Loan Program - The complete guide to home loans for eligible U.S. veterans including a FAQ, contact info, approved lenders, and related resources.

also see --> Home Insurance | Title Insurance

PMI Private Mortgage Insurance

also see in Home Legal Guide -> Real Estate & Property Law