You want the most advantageous rates, the best fees and the lowest monthly payment on your home loan, but they are not going to come to you. But how do you make sure you get the loan that will guarantee all of these?

After you have decided upon the type of loan you want, take a few important steps to help you in this pursuit. The type of loan will normally be a decision between fixed and adjustable.

As the names infer, fixed rate mortgages have interest rates that do not change. An adjustable rate mortgage ?adjusts? periodically over the life of the loan, which can be one, three, five or more years.

The advantage of an adjustable rate home loan is that the rate set is lower than longer, fixed term mortgages. Many people who don't intend to live in the same house for thirty years prefer an adjustable rate mortgage since they would have to re-negotiate the loan when they buy a new house, so they prefer to have the lower rate for the shorter period

If, however, you are one of the minority and think you will be in your new home for an extended length of time, you will be better off with a fixed rate loan rather than take a chance on the rate increasing.

After you have made the decision as to which type is preferable, call a number of banks, or better yet, research on the net for rates. All information is verified, so trying to get a lower quote with stronger financial numbers will not work in the long run.

Another thing to be aware of is that you may not be accepted, even if your qualifications are good. Lenders frequently have other issues to address. Lenders have portfolios composed of different types of loans, and yours may not fit the mix that they currently have to have.

Once you have positive responses, check with friends and others to see if they have had experience with these banks to help you in your decision.

In addition, you want to make sure the lender works for you. If you have an agent who is not willing to spend time answering your questions, you will not be pleased working with him over time.

Once you have a lender that meets all your needs, request a pre-approval letter. When you start looking at houses and you have a pre-approval letter, your negotiating strength will be stronger. At this point in the process, the application will be processed and you will have to supply certain documentation to the lender.

You may consider locking in an interest rate once you have focused in on the home of your choice. Banks usually won't allow you to do so much sooner since they can't afford to have a long period between the rate commitment and the closing date when rates could go up. The other thing to consider, however, is that mortgage rates may decrease in the interim. You can cancel the application, but you will incur charges if you do.

If you follow these hints will improve your chances of getting the perfect mix of great rates, low fees and excellent customer service for your home loan.