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It isn't a simple task to buy your home on a mortgage, especially so if it is your first home. Homebuyers find it very intimidating to take over such a huge responsibility, and that too spanning over so many years. To add to the problem, the language and terminology used by the mortgage lenders, realtors and title companies is nothing short of an alien tongue to the first time mortgage buyer. All this taken together makes buying your home on a mortgage quite a scary proposition. But nothing is easier than a mortgage if you have all your preparations in place, all that frightful jargon notwithstanding. This article puts forward those fundamental things you need to be armed with before contemplating your first mortgage. Affordability is the chief factor. You must remember that at the end of the day you will be repaying the mortgage out of your monthly income. So this will require a basic calculation at your end about how much you will be able to shell out on the monthly repayment. There is a way to get a rough estimate on this. Calculate your annual gross income. Multiply this figure by three. Generally, this is the amount which you can afford for your house. Do not stretch your mortgage beyond this figure. If you are doing so, you must be positive that your financial gains will increase within a couple of years. You could use a mortgage calculator (freely available online) to compute what the monthly payments on the mortgage would be. If it still seems complicated, there are mortgage bankers who could help go ahead with the process.