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Interest rates are divided into fixed and adjustable. You will want to make sure that the lenders are up front about how current their latest posted rates are. Note that fixed rates mean that your mortgage payments will not change, while adjustable rates will make your monthly payment vary. In addition to the interest rate, you will want to get a thorough explanation of the points and the APR associated with the lender to get a comprehensive idea of what a loan from them will entail. Budgeting is an essential step when trying to manage and eventually clear your debts. Budgeting also assists you in seizing power over your money, and realizing your current financial position. You first need to make a listing of all of your set monthly costs such as, utilities, insurance co-payments and premiums, mortgage, and rent payments.