The basics I

Buying a house is a complicated process. But, like most big tasks, it's much easier to understand -- and accomplish -- if you break it down into smaller chunks.

That's what we've done here. We start with the three phases of getting a mortgage for a house: First, figuring out what kind of mortgage you want, determining how much you can afford and anticipating what other steps are involved; second, learning how to shop for a mortgage and deal with lenders and loan brokers; and third, determining what's involved in finalizing the deal.

These phases are, in turn, broken down into the individual steps you'll need to understand and complete to find yourself a fair deal on a loan.

The basics Part II -- Securing your loan

What do you do once you’ve found your dream home? You negotiate with the seller for the price and, once you both agree on that, it’s time to get the money.

Securing the mortgage loan involves a lot of paperwork; it’s a detailed look at your credit history, employment record and financial assets and liabilities.

But there’s more. You’ll need to have a property appraisal. And, though sometimes overlooked in the excitement of buying a home, it’s equally important to shop around for the mortgage loan. There’s a wide range of loan rates and programs, so it pays to do some comparative shopping.

As a home buyer, there’s a mortgage out there to meet your needs.

The basics Part III -- Closing the deal

You're coming to the finish line in the home-buying race. You’ve found a home you like and can afford, you have a mortgage loan, and now it’s time to close the deal.

The process of "closing," or the settlement of a home purchase, involves keeping track of a lot of paperwork, looking ahead to the life of the loan and building equity. Here is a guide to the final steps of reaching your goal of homeownership.