Many people believe that mortgage money isn't available. So they conclude that they can't buy a home. In fact, there is plenty of money available for mortgages. What has changed in the past few years is that there are strict qualifications that the borrower must meet. Gone are the days when a borrower could go into a bank,  and on the application simply state his or her income. Now the borrower must provide bank statements, income tax returns, and other documents that show income and financial stability. So, if you are financially stable, have a source of income, ideally have money saved up for a down payment (although this isn't necessary), the likelihood is that you will be able to obtain a mortgage.

Over the next few days, there will be a series of entries on this blog presenting information on obtaining a mortgage--documents you need to provide, your debt to income ratio, interest rates, kinds of mortgages that are available, and more.

The best first step to take if you are thinking about obtaining a mortgage to buy a home is to meet with a home loan officer. If you have a checking or savings account at a bank or credit union, make an appointment with a loan officer to find out if you quality to get a mortgage. This usually takes less than an hour.