Are you thinking of buying a home? If so, then there are many things that you need to research first. For example, do you know what a mortgage is and do you know all the details of getting a mortgage? The more you know before you get into it, the easier the whole process will be for you.

If you've never owned a home before, you know that securing a mortgage loan can be more nerve wracking than you might realize. After all, just like you would need to prove your expertise to secure a job, you need to prove your credit worthiness to secure a mortgage. The problem is, if you've never owned a home, how can you possibly convince a lender that your credit is good enough to qualify you for a home mortgage loan?

This means that first-time buyers often face higher than standard interest rates and other unfavorable terms on their mortgages such mortgagee insurance. Yet many, many first-time homebuyers or event people with poor credit history enter the market each day, so there are lenders out there that are willing to take the risk. There are lots of mortgages designed specifically for first-time borrowers, with terms and rates that are flexible and not exorbitant. The trick is finding one of these lenders.

You could simply start going from major lender to major lender to enquire about their fixed low-rate mortgages, but a far more sensible strategy involves finding a third party mortgage broker who represents a number of lenders under one roof. Of course, just as there are literally hundreds of different mortgages to choose from, so too are there hundreds of mortgage brokers. It is far better to use the services of a broker to help you ~cut to the chase~ and find the right mortgage for you.

You should beware though - many mortgage brokers make their money by working on a commission basis with the lenders themselves. There are, however, independent brokers who are not in the business of servicing lenders, but borrowers instead. It's their job to help new borrowers to find a good mortgage with low rates.

Lastly when you find a broker who has good relations with a number of lenders, it's easy to get a mortgage at special rates and it is also easy to repay the loan at favorable interest rates. In addition, when it comes time to refinance, you can generally use your relationship to lock in a much more desirable interest rate through a broker than through your current lender.

The author has learned the hard way how NOT to buy a house and secure a mortgage. Since then she has become an expert and helped thousands of people get the "right" morgage and purchase the home of their dreams.

Janine Monik is passionate about mortgages and is the webmaster of Flynn Mortgage