The price for a home loan and all the features it offers comes in the form of interest and fees.
Glossary: interest
Money paid in return for the use of money. If the bank is using your money (in a savings account) they pay you interest. If you are using the bank's money (via a loan), you pay the bank money.
The ideal mortgage contract has benefits for both sides: you get a loan to match your needs at a competitive price, and the lender gets some long-term business.
There are dozens of companies providing home loans. Choose a lender on the key areas of interest rates, fees and services. Don't be swayed by prize draws or the like.
Glossary: interest rates
The amount of interest you pay on a loan or are paid for an investment, usually expressed in a percentage.
