1. Go to our directory of mortgage lenders or search on any major search engines for “mortgage lenders,” “home loans,” or “prequalify for a mortgage”.

2. Fill out an application and make sure it goes through underwriting process. If you’re not sure, call lender using their customer service number and ask them what happens after all information is submitted.

3. Find out if there are any fees involved for pulling your three bureau credit report, and for underwriting. Some lenders will charge fees up front and others will wait until you are approved for loan.

4. Fill out any extra paperwork such as proof of employments and statement of your resources. You have to prove that you enough cash on hand for a down payment, unless you are getting a no money down home loan. Also, you have to prove that cash is yours and not a loan.

If you want to a loan from your parents for example, try to get it six to eight months in advance and keep it in your savings account. Otherwise, it will count as a debt and could increase your debt to income ratio and have opposite effect; showing that you don’t have any cash and disqualify you from a much bigger loan.

5. Get a pre-approval letter from lender stating exact amount of loan that you will receive and interest rate.

6. Pay attention to expiration date on letter. If you are in a market such as Southern California where competition is particularly fierce, make sure you have most flexible expiration date that your lender will allow.

Whether it’s 30 days or 60 days, get it stated in writing. If you lose out on your first or second choice for a home (typical), you won’t be stressed to settle for anything just to get a house.

Can go from adjustable to fixed rate mortgage You should consider home mortgage refinancing if you want to change from an adjustable rate mortgage to a fixed rate loan. In this chase, see if you can get at least a two percent different when you go from old loan to newer loan. If you have a fixed rate loan and want to get another fixed rate loan, look for at least a one point five percent difference in rates.

Fees involved There are always fees associated with refinancing your loan. You might have to pay for new another appraisal, title insurance fees, home inspection, loan origination and associated credit reporting fees.

One quote from current lender to compare against outside quotes Always try to get at least one of your mortgage refinancing quotes from your current lender. Sometimes, they can waive certain fees or eat cost because you are long term customer. This does not mean that you should not get quotes from outside sources. They might give you a lower rate and potentially match, or surpass quote from your previous lender.

In either case, try to maximize your potential savings and minimize amount of fees and up front costs that are involved in switching to another loan.