hat's the best way to pay for the biggest purchase you'll likely ever make?
You can be sure of two things: It's harder to get a mortgage now than it was a year ago, and the fine print can have life-changing consequences.
Once you've got an idea of how much you can afford to borrow:
Dozens of mortgage products are available. You have to decide which one best fits your spending plans. (See "Which mortgage is best for you?") Consider these and compare them:
With so many types of mortgages to choose from, it's essential to understand the terms of the loan before you sign:
Private mortgage insurance, known as PMI, can cost hundreds of dollars a month.
If you already have a mortgage, you may be tempted to refinance when interest rates drop. (See an estimate of your growing home equity here.) Don't make a decision based simply on the availability of lower rates. Would you actually pay less when you figure in the closing costs?
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