I need to learn everything about mortgages, how is it best to go about this?

Question

Any idiot guides etc. Iam based in Western Australia

Answer 1

For people in the U.S. there's not really a whole lot to learn about them. There are a couple of different types, different rates, and some different terms between them. I would call a few banks and ask for information about their mortgages. Then I'd contact a few mortgage companies (which often aren't as good as banks as far as their terms go but which sometimes approve you when a bank wouldn't). I'd do a few searches on "predatory lendors", mortgages, mortgage insurance, and a few related terms. You may want to also read up on private mortgages, although you probably wouldn't run into circumstances where you'd need one.

I have no idea how different Western Australia is, but here the main thing to learn is types, rates, special terms or penalties, and the reputation of the company/bank who gives you the mortgage.

Here, too, there are times when banks sell people's mortgages to investors outside the country. You may want to find out if there's a chance of that happening.