10 biggest mortgage mistakes

Missing out on a deal

A conventional, fixed-rate, 15-year mortgage is the cheapest option for most borrowers who qualify.

But if you’re eligible for a special loan, first-time home buyer grant or other program, you could get a better mortgage or free cash.

VA loans are available to veterans, anyone on active duty and those in the National Guard and reserve units.

VA mortgages have lower credit score requirements, lower interest rates, no mortgage insurance, higher loan maximums and no minimum down payment.

Many home buyers who don’t think they’re eligible for home-buying assistance do, in fact, qualify.

You can earn up to 120% of the area's median income and still be eligible for some money-saving programs from nonprofits, state and local governments and even banks.

Some programs require you to work for a public-sector employer, live in a certain area, complete a housing counseling program or be a first-time home buyer, meaning someone who hasn’t owned a home in the last two to three years.

You might even get the best deal with a loan from the bank of mom and dad.