Starting the loan application is the first step to finding your first home.

Credit unions, mortgage brokers, and banks are the main institutions you can contact for a mortgage. To decide if you qualify, mortgage companies need documents proving your ability to repay the loan. Preparing a folder beforehand will speed up the process, making it easier to price shop between lenders.

Getting quotes from three institutions usually gives you the best idea of what options are available.    Once pre-approved, you will be able to run the numbers and decide which mortgage company you prefer. Remember you will be working with this company for the next 30 years.  Choose wisely!

Below is a guide to help you request a loan with confidence.  Getting the best interest rates and lowest closing costs can save you thousands over the course of the loan.  Start preparing today!

Click image to enlarge