Before you begin searching for a home, it is important not to waste your or your realtor's time searching for homes you can't afford! The first step in buying a new home should be to take a look at what you can afford and how you are going to pay for it. If you're like the majority of home buyers, you will have to finance your purchase with a mortgage loan. So what exactly is a mortgage? A mortgage is a loan that uses the home you buy as security. This loan is registered as a legal document against the title of…