Once you ve accomplished that you need to decide what type of mortgage will work best for you.
Interest rates play a major role in the decision process.
Obviously, the lower the rate, the more mortgage you can afford. But, there are some things that might be affected over the long term if you base your decision on the interest rate alone. The interest rate you pay is slightly higher than on other types, but it remains constant for the life of the loan. People who believe interest rates will rise in the future may often find this feature appealing. A fixed rate is best if you expect level income in the future.