Securing your loan: The paperwork

Now that you know the fundamentals of how home mortgages work, it's time to secure your loan.

Once you have identified the house you want to buy and negotiated the price with the seller, you will need to find a lender, satisfy a list of credit requirements, negotiate the best possible loan terms and arrange for an independent property appraisal.

Securing a mortgage loan involves a lot of paperwork. You will be asked to provide a detailed credit history, employment record and list of financial assets and liabilities.

First stop: credit reports and credit scores. You'll want to know how your credit report looks and clear up any erroneous information before approaching a lender.