Depending on your credit scores, applying for a mortgage without your spouse or partner could save you a ton of money.

Several years ago, my wife and I were in a bit of a personal bind. We lived together in what was about the tiniest two-bedroom apartment you can imagine, with a small baby and another one on the way. We were already forced into being pretty creative with arrangements with even one baby in the home, but two? It was pretty clear that we needed a bigger place.

Expense ratio. Prime rate. Amortisation. The finance world is filled with acronyms and terms that might sound alien to many people. So we've created a financial glossary for you that explains important yet often confusing money concepts.

Most financially savvy people are wary of getting in over their heads when it comes to credit card debt. But home buying? We don't always see home prices with the same caution.

Flongle is a new crowdsourcing website that assists customers in finding the best home loan by making banks and mortgage brokers bid against each other. Billed as the world’s first “mortgage contest”, the site allows home buyers to post their ideal mortgage anonymously. You can then sit back and watch as banks, non-bank lenders and brokers compete to "win" the loan.

Buying a house involves more than slapping down a deposit and moving in. There are all manner of hidden costs and financial complexities that ramp up the total price significantly. Once you factor in stamp duty, conveyance fees, mortgage insurance and miscellaneous bank fees, you can expect to pay tens of thousands of dollars more than the advertised price tag -- and that's before you take interest, council rates and general upkeep into account. Here are some tips that will help to keep the total cost down to a less terrifying level.

An individual’s likelihood of defaulting on a mortgage is directly related to their ability to perform basic mathematics calculations, a US bank has claimed. According to the study, the dramatic rise in subprime mortgage defaults in recent years can be attributed to borrowers' poor numerical ability and may have precipitated the recent global financial crisis.

Dear Lifehacker, How can I go about getting a new job when I have a mortgage? It's a very fine line, matching income to expenditure! I want a job that I enjoy (more than I do my current one, at least) but switching careers would probably mean a pay cut which would make meeting the mortgage repayments impossible. How would you go about finding a new career without getting five roommates or relying on lady-luck? Thanks, Job Switcher

We're conditioned to believe that the interest rate is the single most important element to consider when we're borrowing money to purchase our first home. But is that really the case? No-one wants to pay more interest than they have to, but other factors may influence our decision more than we realise.

Home ownership is a completely different affair from renting and is more expensive than you initially imagine. Set up a phantom expense account to determine if you're ready for the transition.

Some financial planners advise making two half payments on your mortgage each month instead of one full sum. The idea is that homeowners will save thousands of dollars over the years in interest payments. Does this idea hold water?

There's a dizzying range of mortgage options for home buyers these days, but in one area it seems we've already made up our mind: nobody wants a fixed-rate home loan.