Buying or refinancing a house is one of the biggest financial decisions you will make, so do your homework before you sign on the dotted line. Get familiar with the loan process with our guide to Navigating the Mortgage Highway, so you won't be surprised down the road. Decipher the mortgage jargon with an easy-to-use mortgage glossary.

Expect to have lots of questions about the home financing process. That's why it's important to choose a lender who makes you feel comfortable and welcomes your questions.

Navigating The Mortgage Highway

You've decided that the time is right to buy, but the process is so complicated you're afraid to take the first step. Never fear, the mortgage process is not complicated if you know what to expect.

First Steps: Research
Determine how much you can realistically afford. Many factors will determine this, including how much cash you have available for down payment and closing costs, your monthly income, debt payments and credit history. A tool that will help is our loan calculator.

Select an experienced lender that you can trust. EverHome Mortgage has helped thousands of people finance their homes.

Next Steps: Preapproval
This is an actual credit approval verifying income, liabilities, and your ability to repay the loan. Information you might be asked to provide:

• address of home you're buying or refinancing
• social security number
• 2 year residency history
• 2 year employment history
• documentation of income
• list of creditors including debt balance, account numbers, etc.
• value of owned assets
• bank statements for most recent three months

Final Steps: Approval and Closing
Once you've applied for a loan and it's been processed and approved, you can set a closing date.

Prior to closing:

• Purchase a title search and title insurance. This is a lender requirement to protect you and the lender in case there's a complication with the title after the deal is made.
• Order a property survey to verify zoning location and official boundaries of your property. In most cases, you pay the fee for this service.
• A final walk through with the seller before you close is also helpful -- this is your last chance to make sure everything you and the seller agreed on (appliances, carpets, etc) is in place.
• Purchase homeowners insurance. To protect the contents of your home from theft and the structure of your home from damage.