Traditionally, buyers have found the home they wanted and then applied for a mortgage. But certain sellers may require that you prequalify for a mortgage first, by estimating the amount you have available to spend and investigating what you can afford. And some experts suggest that prequalifying is a smart approach to take, since it will help you pinpoint properties priced within your range.

You may want to get a sense of mortgage availability and current lending rates before you start applying.   You can keep an eye on ads in local newspapers or check in with mortgage research companies.

The next step may be to visit your bank or credit union, or other banks in your community, to check their rates and application procedures. Many will have mortgage loan kits for you to pick up and loan officers available to answer your questions.

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