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Be very, very careful of mortgage companies. Always go to a real bank or credit union. The reason so many people are losing their homes is because of mortgage brokers who are crooks. And your not knowing anything will make them screw you over even more. All banks are competitive. And the rates change day to day with the stock market. Go to the bank that you have your checking account with. Or a credit union, they often give excellent deals with no origination fees. They can all give you an FHA loan, which is a safe loan to get. Question your Realtor to recommend someone. But still be careful, and make sure it is a real bank or credit union, because some Realtors don’t know anything about mortgages either.

Another bit of advice. Do not make any changes in your credit, or job until after you have closed on the house. The bank will check your credit when you start and then again just before the closing to be sure that nothing surprising comes up. Wait to buy anything new on credit. It is OK to pay something off, but do not add anything to your cards. Do not change jobs. Getting a mortgage will be the toughest type of loan that you will ever get. They will check everything, including where you are getting your down payment. Excellent luck, this is a excellent time to buy. Lots of excellent deals out there in many areas.

I use to sell mortgages.