Schmidt Mortgage Corporation

I’d like to own my own home. What’s the first step? How do I know how much I can afford? How do I know which type of mortgage is best for me? What’s the difference between conforming and non-conforming loans? What is the APR? Why is the Annual Percentage Rate (APR) on the Truth in Lending Disclosure higher than the rate shown on my mortgage note? Is my interest rate guaranteed? What is the difference between 'locking in' an interest rate and 'floating'? What is Prepaid Interest? Are there different types of mortgages? What does the application consist of? What happens after I apply? Do I need title insurance? How much will I need for the down payment? When do I need Private Mortgage Insurance (PMI)? What are closing costs? What is an Escrow Account? What is involved in the closing?