The financing of your home is one of the most important steps in your real estate transaction. There are literally hundreds of lenders, each with different loan programs that may or may not be the right one for you. It is important that your particular needs fit the mortgage program you choose. Whether you're a first time home buyer, a veteran or buying a vacation home or a second home, will determine the loan that you should choose.

I have included a mortgage calculator on this page for your convenience in calculating a basic monthly payment of principal and interest. Keep in mind that many loans have additional mortgage insurance premiums to consider and taxes and insurance are also collected by most lenders as part of your monthly payment.

Closing costs vary from lender to lender and program to program. These must be disclosed to you in writing by the lender prior to loan application. Sometimes sellers will assist in paying some of your closing costs as part of the negotiation of your offer.

Income alone does not determine your eligibility for a mortgage loan. Other factors considered are your debt, employment stability, down payment and credit history.

Mortgages can be confusing. The wrong choice can cost you money. I offer free mortgage counseling to my clients. For a free consultation, e-mail me and together we can determine which financial institutions have the loan programs best suited for you.

Pre-approval, which can often be done by telephone, will be a strong tool in negotiations and will simplify the final loan approval process.