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Buying a home is considered by most to be a good investment. And like every good investment, finding the right type of home can be a critical factor. Equally important is to research financing options on the type of loan, how much you can afford, and what your monthly financial commitment will be. Hiring a mortgage company is a critical step in the purchase of your home... A mortgage is a home loan that a lender gives to you in which the house you purchase serves as the collateral for the loan. The lender typically loans up to 80% of the homes value, charges you interest on the loan until it is paid off in full, and contracts you to pay them principal and interest on a monthly basis. If you default on one or multiple payments, the lender can take your home from you through a process known as foreclosure. While a mortgage is not considered a debt itself, it is the lenders security for a debt you have accepted... What do you need to know before you find a mortgage or home loan? Find..