With the plethora of mortgage options out there, your mortgage broker will probably guide you through at least a handful, depending on what monthly payment you are comfortable with. But there is only one right answer to the question “what mortgage should I get?”

Get one you can understand and afford.

The “understand” part is important. Because we have gotten into the mortgage mess we’re in right now because too many people got into mortgages they didn’t quite understand. There probably aren’t that many crazy mortgages out there right now but if you do run into the occasional mortgage company that pushes the low payment that seems way off from all the others (try about three companies) and refuses to talk about things like interest rates, closing costs and so on, move on. You’ll be glad you did.

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