The mortgage process in plain language. This article was published by Gina Pogol The Mortgage Reports Editor September 24, 2018 - 9 min read In this article: First time home buyers may find the process intimidating, but it doesn’t have to be. If you’re just getting started, there are a few key tips to keep in mind: 1. Contact at least two mortgage lenders to ensure you’re getting the lowest rate. 2. Learn about different types of loans. While there are dozens of loan types, more than 90 percent of buyers will end up using one of four government-backed programs: The conforming home loan, the FHA home loan, the VA home loan, and the USDA home loan. 3. Calculate your mortgage payment (including principal, interest, taxes, and insurance), and understand your mortgage rate as well as your price range. This will allow you to shop for a home with confidence. First time ...