Mortgages are complicated as our the lenders that provide them and the borrowers that require them. There are thousands of lenders in the United States today, each which different loan criteria, requirements, and programs. Even more complicated is that each lender caters to a specific type of borrower. Subprime (bad credit), A Paper (excellent credit), first time home buyer, refinance, debt consolidation, just to name a few. Why make it so complicated? Because every borrower is unique, they have different goals and different credit histories and for every borower there needs to be a lender that caters to them. Understanding the basics will teach you about lenders and much about yourself.
What's the secret to finding a good mortgage? Understand the basics. Understanding the key elements of how a mortgage works will enable you to figure out what type of loan is right for you and what you need to do to secure a loan with a low rate. Shopping around for a loan is important, as long as you are shopping with the right lender.
Make the entire loan process go smoother with less surprises and mistakes. Take a couple of minutes to go through are mortgage guide. It is very informative and written in simple plain english so it is easy to follow.