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There�s little to absolutely no doubt about it, unless you have funds to pay for it in cash, a new home mortgage is the likeliest candidate for the largest single debt commitment you�ll acquire during your lifetime. What that means, is that making the decision to attempt to become a first time homeowner will automatically entail your having to do business with one mortgage lending institution or another . . . and it can only help you and or your family to enter into such a potentially thorny transaction as well informed as you possibly can be.

Unfortunately however, despite those built-in dangers, prospective housing consumer-borrowers across the US appear, more often than not, to be failing to heed what seems like a fair and straightforward bit of free advice. But, why is that?

There aren�t too many of us who wouldn�t do some fairly extensive shopping around before settling on a potential new car purchase loan or even a new credit card�s annual interest rates. But, inside the current low interest housing loan bubble � where many generally well thought-of mortgage companies can�t seem to run out of purportedly homebuyer friendly deals, too many real estate prospectors are being tempted to forego the kind of lowest possible mortgage rate hunting that was once considered minimally prudent.

To do so is to literally ignore both the fact that by comparison not only the costs but the possible savings involved in a home loan outweigh those related to an automobile loan by an order of magnitude measured in the hundreds then the hordes of predatory mortgage brokerages as well as credit history and dept profile scams floating around through what�s already an inherently complex marketplace, as unhappy side effects of an otherwise beneficial housing market boom, besides.

Luckily, those concerns don�t amount to a mortgage lending landscape wherein there aren�t effective ways of getting to the reasonable closing fees and amortization rates that brokerages have to offer prospective mortgage borrowers.

But rather, that it will surely pay to have become knowledgeable enough appreciate the details as you browse thru the financial product offerings of enormous mortgage companies, such as Freddie Mac (The Federal Home Loan Mortgage Corp) or Fannie Mae (The Federal National Mortgage Assoc) or even relatively small home loan firms such as Ameriquest Mortgage or Countrywide Financial, searching for best and most affordable interest rates and mortgage terms.

And, that�s precisely the task that Mortgage Elf is here to help you accomplish.

You simply can�t afford not to ask too many questions: To know what you�ll be getting and what you�ll be paying for it, to have become absolutely familiar with the loan process fees applicable to your mortgage opportunities or with the premium costs of the mortgage insurance that your real estate mortgage company may require or with the application charges that using an mortgage broker may add. Your real estate agency along with the financial institution you�ve chosen can easily help you to sort such things out; so don't be oversold.