A mortgage is usually the largest loan you'll take, so the structure matters. A fixed-rate loan keeps the same rate for the whole term — predictable payments — while an adjustable-rate loan can start lower and change later.

Your down payment shapes everything downstream: a larger one reduces the amount borrowed, can earn a better rate, and may let you avoid private mortgage insurance. Lenders also weigh your credit, income stability, and debt-to-income ratio.

Get pre-approved before house hunting so you know your budget and look serious to sellers. Compare offers by APR, not just the headline rate, and read the closing-cost estimate carefully.