ly when some kind of down payment has been made, with the lender only lending 80-90% of value (also known as loan-to-value, or LTV). The larger the down payment, the more secure the lender, and the better the interest rates on the loan.

These and other factors (having enough career longevity, seasoned assets, sufficient credit rating) figure into the work of getting a loan on a house. Minimize this work by getting

Home, sweet home. It's the American Dream to own a home. This is true for many reasons. You get to call it your own, make decisions, not rely on someone else to repair or enlarge or update it. No worries about rent increases, or having to leave because the landlord has decided to sell. Beyond the physical comforts, you get to build equity, borrow against it, and save on your income taxes. Then, you can pass it on to your children or favorite charity.

However, buying a house may not be easy. Most people do not have enough cash up front to buy a house free and clear. So, they get mortgages -- loans secured against the house that are payable over a period of many years. Obtaining a mortgage for a property can be a nerve-racking process. For some loans, a down payment is required. Saving up that down payment can take years. In the meantime, inflating house prices could render property ownership perpetually out of reach. By the time one saves up 10% or 20% to put down, the house could have increased in price so much that it is no longer affordable.

Other loans don't require a down payment at all. Some mortgages are loaned for 100% of the home's value. Because this increases the risk to the lender, these loans are more expensive. They are riskier because the owner did not put any money down, and therefore has less stake in the property. There is less incentive to hold onto it and continue making payments, in theory, when the owner has not personally invested in the house. This kind of loan also carries more risk because if the house decreases in value at all, the owner is "upside down" -- owing more to the lender than the property is worth. That is less likely when some kind of down payment has been made, with the lender only lending 80-90% of value (also known as loan-to-value, or LTV). The larger the down payment, the more secure the lender, and the better the interest rates on the loan.

These and other factors (having enough career longevity, seasoned assets, sufficient credit rating) figure into the work of getting a loan on a house. Minimize this work by getting

r children or favorite charity.

However, buying a house may not be easy. Most people do not have enough cash up front to buy a house free and clear. So, they get mortgages -- loans secured against the house that are payable over a period of many years. Obtaining a mortgage for a property can be a nerve-racking process. For some loans, a down payment is required. Saving up that down payment can take years. In the meantime, inflating house prices could render property ownership perpetually out of reach. By the time one saves up 10% or 20% to put down, the house could have increased in price so much that it is no longer affordable.

Other loans don't require a down payment at all. Some mortgages are loaned for 100% of the home's value. Because this increases the risk to the lender, these loans are more expensive. They are riskier because the owner did not put any money down, and therefore has less stake in the property. There is less incentive to hold onto it and continue making payments, in theory, when the owner has not personally invested in the house. This kind of loan also carries more risk because if the house decreases in value at all, the owner is "upside down" -- owing more to the lender than the property is worth. That is less likely when some kind of down payment has been made, with the lender only lending 80-90% of value (also known as loan-to-value, or LTV). The larger the down payment, the more secure the lender, and the better the interest rates on the loan.

These and other factors (having enough career longevity, seasoned assets, sufficient credit rating) figure into the work of getting a loan on a house. Minimize this work by getting

eantime, inflating house prices could render property ownership perpetually out of reach. By the time one saves up 10% or 20% to put down, the house could have increased in price so much that it is no longer affordable.

Other loans don't require a down payment at all. Some mortgages are loaned for 100% of the home's value. Because this increases the risk to the lender, these loans are more expensive. They are riskier because the owner did not put any money down, and therefore has less stake in the property. There is less incentive to hold onto it and continue making payments, in theory, when the owner has not personally invested in the house. This kind of loan also carries more risk because if the house decreases in value at all, the owner is "upside down" -- owing more to the lender than the property is worth. That is less likely when some kind of down payment has been made, with the lender only lending 80-90% of value (also known as loan-to-value, or LTV). The larger the down payment, the more secure the lender, and the better the interest rates on the loan.

These and other factors (having enough career longevity, seasoned assets, sufficient credit rating) figure into the work of getting a loan on a house. Minimize this work by getting

ier because the owner did not put any money down, and therefore has less stake in the property. There is less incentive to hold onto it and continue making payments, in theory, when the owner has not personally invested in the house. This kind of loan also carries more risk because if the house decreases in value at all, the owner is "upside down" -- owing more to the lender than the property is worth. That is less likely when some kind of down payment has been made, with the lender only lending 80-90% of value (also known as loan-to-value, or LTV). The larger the down payment, the more secure the lender, and the better the interest rates on the loan.

These and other factors (having enough career longevity, seasoned assets, sufficient credit rating) figure into the work of getting a loan on a house. Minimize this work by getting

ly when some kind of down payment has been made, with the lender only lending 80-90% of value (also known as loan-to-value, or LTV). The larger the down payment, the more secure the lender, and the better the interest rates on the loan.

These and other factors (having enough career longevity, seasoned assets, sufficient credit rating) figure into the work of getting a loan on a house. Minimize this work by getting an eloan mortgage. Eloan pares down all the home buying basics into easy steps. By providing free advice, a loan professional to walk you through the process, and easy online access to your loan application status, Eloan demystifies your home mortgage.

Even if you haven't found your dream home yet, you can have your financial situation reviewed by an Eloan specialist in order to get pre-approved for a loan. It is not necessary to have a down payment for certain loans, but realize the monthly payments on such a loan may be higher. As there is preparation involved in getting ready to buy a house, start the process early of educating yourself about all your options so you can position yourself to apply for a loan when the time is right.