A mortgage company is the entity that grants you access to the property in question as if it were the free and clear owner, while retaining certain rights to oversee the well-being of the property, including the right to recover or sell it if you, the debtor, do not fulfill your part of the obligation.
Some companies specialize in debtors with bad credit; if that is your situation, you should seek out a mortgage company that advertises its willingness to help such customers.
Your home mortgage company will help you decide what kind of mortgage is best. Some options allow you to pay back only the interest for a few years, before repaying the principal. There are 10-year mortgages and 30-year mortgages, mortgages with fixed rates and mortgages with adjustable rates.
There are pros and cons to all of these options, and the mortgage company agent can assist you in determining what will best suit your needs.
In some cases, it is wise to use the services of a mortgage broker. This is a business that collects your financial information and your needs, then checks with several potential lenders to see who is best suited for your situation.
Once you've chosen a mortgage company and taken out your home mortgage loan, there's a good chance you won't be with that company for the life of the loan.
Most mortgage companies at some point sell the mortgages they own to larger financial institutions. This rarely affects you, the debtor, however; the terms of the loan almost always remain exactly the same, and all the changes are the address you send your payment to each month.