Mortgage lending as an extremely competitive business; because of this competition it is a borrower's market. You can negotiate and receive nearly any reasonable term or condition you want. To do this you need to contact as many different mortgage lenders and brokers as possible to compare the maximum number of loan offers possible.

Using the Internet is an excellent method to simplify this process. When shopping online make sure you are using sites that offer secure connections and do not request too much personal information like your Social Security number. It is easy to find lenders using search engines such as Yahoo. You can recognize a secure connection by the small padlock icon displayed in the lower right corner of your browser window.

When shopping for loans, you want to request no obligations form these lenders. When requesting no obligation quotes you will have to provide the lender with an overall picture of your financial situation and you can do this without the lender accessing your credit report. You want to keep credit inquiries to an absolute minimum when shopping for a mortgage.

Make sure when you compare quotes from mortgage lenders that you compare loans of similar term lengths and conditions. It does not help to compare a fifteen year loan to a 30 year loan as these loans will have different terms and conditions associated with them. Make sure you compare the lender’s Annual Percentage Rate (APR) on similar loans.

Louie Latour has twenty years of experience in the mortgage industry as a mortgage broker. He is the owner of Mortgages for Dummies, a mortgage help site devoted to saving homeowners money with a free guidebook “Five Things You Need to Know Before Refinancing a Mortgage.” Sign up for your free guide today at: http://www.refiadvisor.com