Complements of David Fairman, senior loan officer for CTX Mortgage Company, here is a quick home loan tutorial put together by the MSN Money staff. These tips can help cut the stress of taking out a mortgage -- and get you into a house you can afford. What's the best way to pay for the biggest purchase you'll likely ever make? You can be sure of two things: Many lenders will offer far more money than you can truly afford to repay, and the fine print can have life-changing consequences. First, find out how much you can qualify for with a mortgage calculator which considers your income and debts, even your credit, before figuring out the maximum amount you should borrow. It may not be as much as some banks will lend you, but it should be within your means to repay. Once you've got an idea of how much you can afford to borrow: Get preapproved for a mortgage. Unlike "prequalifying," preapproval means you have a loan lined up, which makes your offer more attractive to ...