4 th Steps : Choose the Right Mortgage Mortgage is the important aspect in buying a home .choose the mortgage which best suits your financial needs the different mortgages available in the market. Fixed rate mortgage: In this type on mortgage the interest rate remains fixed trough out the term of the loan.This is the best type of loan avialable and choosen by most of the people.Adjustable rate mortgage: In this type of the loan the interest rate changes depedning upon the market value.the one advantage of this loan is some times the interest rate are favorably low. Fereal housing Administration: This type of mortgage is government insured mortgage .The advantages of FHA is no income limit to qualify and you can keep less cash to qualify under liberal guidelines. Veterans Administration: No down payment .under most circumstances available in both fixed and adjustable ineterst rate Their no minimum minimum credit score required these are some of the advantages of VA Loan also known as veterans administration. 5 th step : Home inspecation Before you choose a house it is very necessary to get the home inspected.Take time for inspecation make a checklist and mark off what is offer ,and what is wrong with it.take the help of independant authorized home inspector. they are the one who will help you out. 6 th step :House Appraised This is yet another important step in buying a home and i.e is House appraised.This is usually done to assure that the loan amount is not more than the house value.you can take the help of appraiser or broker for this . 7 th Step :Insurance Insurance ,take the insurance when buying a house,because taking Home owners insurance is benifit for the borrower as well as the lender. 8 th step :closing The difficult and confusing part in the mortgage process is the closing .this process involve several documents and person which need signing and and you need to pay several fees . but this process can be simpler if you have a full knowledge of the process.The main thing is Understand everything ,Read carefully before signing so that there may be no problems later on.ask your financial advisor to read it and explain every bit of thingto you.Read Understand and then Sign. Back to Home buying