We all know that When it comes to mortgages and the word "rates", everyone gets nervous and wonders if they got the best deal. So Valley West Mortgage has taken some time to research the best ways to approach a mortgage and a broker. These are very simple minded idea's that tend to get over looked.

1. When shopping around for rates, its very important to remember your budget. If you only make $10 a month, do not get a mortgage loan that requires you to pay $11 a month. Now we know that seems a bit obvious. Our readers would be shocked to discover how many loans tried to closed using that exact scenario described. As human nature goes, people want more bang for their buck.

2. All who are interested in applying for a mortgage should be actually watching the rates. All rates for a loan have to be locked. Locked loans are done by the loan officer on behalf of the borrower. Just like stocks, it would be Nice to determine the rate movement and lock in the best deal. So let's say you want to buy a home in the summer of 2012. You probably should of started paying attention to the rates being offered as we speak. Luckily enough, Valley West Mortgage provide real time rates on our home page.

3. The last step we are going to cover is called learning the biz/lingo. When dealing with a broker, the first person you are going to talk to is the loan officer. All loan officers will be able to help you with the previous steps mentioned if you need help. Most of the time, a loan officer will wait a certain amount of time before advising to pull the trigger on locking a loan. Before giving your consent, it is perfectly on to ask your loan officer to explain why this is the time to lock in a rate.

We hope you have learned a lot, got some sort of understanding of how to proceed when applying for a mortgage loan with a broker like Valley West Mortgage.