To get the best home loan, you know how much you can afford and shop like the bargain hunter that you are.

Buying a mortgage is as fun as buying shoes, a smartphone, or a big-screen TV. Chasing these bargains and saving a few dollars is worth an afternoon or two, isn’t it? But the time and effort required to understand the lingo and turn to lenders when buying a mortgage may not give the same spark.

However, you can make this as painless as possible. Here are six steps to choosing the right home loan.

1. Calculate how much you can afford

Since this is a six-digit purchase, you are probably already wondering if it is really within your financial reach. With a calculator, you can determine how many houses you can afford.

If you have a decent credit rating, lenders will likely be more optimistic about the amount of home you can buy than you have. Remember, it is your job to sell a loan. Your job is to pay for it. So leave some space in your budget to live life.

2. Set a savings target for start-up costs

Lenders not only want you to get a large loan, but they also want you to have money for the down payment and a long list of bank transaction costs.

Down payment still seems like a big question, but it’s a bonus for you to amortize your purchase with a little instant equity by using whatever you can comfortably use. With too little down payment and just a small recession in the real estate market, you could have a big loan and a house that is worth less than what you owe. It is not a good place if you have to move.

How to choose the best mortgage

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Buying a mortgage is as fun as buying shoes, a smartphone, or a big-screen TV. Chasing these bargains and saving a few dollars is worth an afternoon or two, isn’t it? But the time and effort required to understand the lingo and turn to lenders when buying a mortgage may not give the same spark.

However, you can make this as painless as possible. Here are six steps to choosing the right home loan.

1. Calculate how much you can afford

Since this is a six-digit purchase, you are probably already wondering if it is really within your financial reach. With a calculator, you can determine how many houses you can afford.

If you have a decent credit rating, lenders will likely be more optimistic about the amount of home you can buy than you have. Remember, it is your job to sell a loan. Your job is to pay for it. So leave some space in your budget to live life.

2. Set a savings target for start-up costs

Lenders not only want you to get a large loan, but they also want you to have some cash for the down payment and a long list of bank transaction costs.

Down payment still seems like a big question, but it’s a bonus for you to amortize your purchase with a little instant equity by using whatever you can comfortably use. With too little down payment and recession in the real estate market, you could have a big loan and a house worth less than what you owe. It is not a good place if you have to move.

3. Take into account the duration of the mortgage

When you first heard the phrase “30-year mortgage”, you probably drowned a bit, right? It is a long-term commitment. But there are also 10 and 15-year loans: some lenders even offer loans on different terms with programs to write your own mortgage within 10 to 30 years.