For many people, buying a home is the largest purchase they will ever make, and homeownership can be a lifelong investment. Typically, taking out a mortgage is a critical step of the home-buying process. However, a mortgage is not a one-size-fits-all loan, and applying for one looks different based on your income, credit score, and life circumstances.

There are so many mortgage lenders out there who offer a variety of loans with different terms and interest rates, so it is incredibly important to do your research to ensure that you are getting the fairest deal possible.

While people usually spend a great deal of time, energy, and money figuring out how to begin their journey to homeownership, few people take the end of this journey into consideration.…