Get pre-qualified. Lenders will provide you with a certificate of prequalification. By getting pre-qualified, you know exactly what financial parameters to stay within. Many times, lenders are able to get you a larger loan than you may have thought possible

Look at all your options. Make sure you see at least three loan programs for your mortgage. Lenders have many programs and should work with you and your REALTOR® on deciding what is best for your circumstances. Let the lenders compete for your business – you deserve nothing less.

Demand service. There is little difference between a mortgag e broker, bank, or a credit union when it comes to the competitiveness of their loan rates. The difference is in the service they provide. It is their job to serve you. Don't overlook the fact that you are the one spending the money!

Don’t give up on the first “no.” Initial decisions are not always final decisions. Going to the right person can sometimes get you the loan. Many times you will obtain the loan if special circumstances are explained properly to that right person.

Don’t wait for the bottom of the market. And trying to time it exactly right is often costly. This can cause a person or family to miss out on the opportunity to purchase a very nice property. You're better off simply negotiating the best rate and terms you can at the time you find a property.

Be honest with your lender. Your lender wants to help you with your loan. The more information (good or bad) you provide your lender, the easier it will be for them to get an approval. This, in turn, helps the loan get the highest approval rating.

Visit the Tallahassee Board of REALTORS® website at www.TBRnet.org for a complete list of member lenders and REALTORS®.

Written by: Cal Brooks, Allied Northeast - Allied Home Mortgage Capital Corp.