A mortgage is typically one of the biggest monthly payments and financial responsibilities that a person is responsible for. Mortgage payments usually impact the person’s budget significantly for several decades or longer.

While there are mortgage calculators online that can be used to estimate an affordable mortgage payment, it is important to start with a basic budget. A budget will allow you to more accurately determine how large of a mortgage payment is truly affordable before applying for a new mortgage.

Taking time to set up your home mortgage is one of the best steps that you can take to promote financial health and security. If you want to ensure that you get the best deal on your mortgage, focus on these key tips.