First mortgage.

Hi Harriett,!
Points to consider when getting ur first mortgage. 1) Mortgage are not commodities. If you think it's all about the rate, you are going to be disappointed from the start. 2) Online is not the place to transact your biggest liability. Don't do a mortgage over the internet. 3) There are two types of mortgage lenders who advertise on the web and on the newspaper rate table. They are generally quote higher rate. 4) Avoid interest-only loans. If you are only paying interest, you do not build up any ownership or equity in your home. 5) Are the fees reasonable? 6) Generally, avoid adjustable rate loans. It can be attractive because the advertised rate is lower than a fixed rate. 7) The mortgage industry is unregulated. You do not have to accept any last minute changes. 8) Generally, avoid paying for mortgage insurance. Most mortgage insurance protects the lender, not you. 9) Always make your full payment each month, pay on time, and pay more towards principal if you can.