There are up to 26 different features or attributes that define the structure of a mortgage. That means there are up to 26 decisions that you will either make or have made that directly affect the financial cost of your mortgage, the safety it affords you and how much stress and time it takes to manage your loan.

Although it's tempting to focus on interest rates as a starting point for comparing your mortgage options, an interest rate quoted on a website, in a magazine, a newspaper or over the phone could be the nominal rate, headline rate, start rate, or comparison rate. Each is different and each includes a different, incomplete set of fees that the lender will or is likely to add to your loan.

More importantly a loan with a 'seemingly' higher interest rate and better structure can easily outperform a loan with a lower rate. Saving 10% on your interest bill is outstanding. Getting debt free 10% faster as well? Priceless.

The good news is that you can do this without employing clever 'tricks', the wizardry of an offset account or questionable strategies sometime promoted by lenders and brokers alike.

However you do need to understand the structure decisions you will make when taking out your mortgage.

Michael Lee reveals secrets to getting the structure right, in the June issue of Your Mortgage, on news stands today!