If you are shopping for a mortgage loan it is often difficult to know which loan is best for you. You do not have to be a financial wizard to find a good mortgage; you simply have to know what to look for. Here is what you need to know to find a good mortgage.

Many people assume you have to have good credit in order to get a good mortgage. This is simply not true; if you take the time to do your homework you can find excellent mortgage offers even with poor credit. You will need to shop from a variety of mortgage lenders and brokers to find the best mortgage for your situation.

You need to understand all of the fees associated with the mortgage offers you are considering. Many homeowners make the mistake of just looking at the interest rate for the mortgage offers they are considering. If you neglect to compare all of the other fees and closing costs for each offer you will most likely overpay for your mortgage.

Lender fees and closing costs are subject to negotiation. Be sure and ask each lender for a ?good faith estimate? of these expenses. When you are comparison shopping based on the Annual Percentage rate and the figures from the good faith estimate do not be afraid to haggle with mortgage lenders over these expenses.

Prepare a budget before you shop to determine how much you can afford each month. Using a mortgage calculator will help you plan your budget; make sure you are using a mortgage calculator that includes property taxes and insurance, this will give you a better picture of the actual mortgage payment.

By doing you homework you will be able to avoid common mortgage mistakes like neglecting to protect your credit rating while shopping for a mortgage. To learn more register for a free mortgage guidebook.

To get your free mortgage guidebook visit RefiAdvisor.com using the link below.

Louie Latour specializes in showing homeowners how to avoid common mortgage mistakes and predatory lenders. For a free copy of "Mortgage Refinancing - What You Need to Know," which teaches strategies to find the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com.

Claim your free guidebook today at: http://www.refiadvisor.com

Chicago Mortgage Refinance