I am completely new to the world of mortgages and home loan lending, and I am looking to buy a new house. I am either looking to take out a traditional mortgage or a home equity loan on a house that I own with my parents (which has been mostly paid off now).
I really have no idea how to begin this process. I got some dummy books , but I am still not clear on how to start shopping around for the best loan.
Should I go to my local bank and speak to someone there, or lendingtree.com, or hire a realtor?
(Please do not consider this question subjective, I am just looking for advice and not necessarily the "right" answer).