Mortgage loan applications are time sensitive; your lender guarantees an interest rate for only a short period of time. If you are unable to close on the mortgage prior to the expiration of your lender's guarantee you will lose that interest rate. Here are tips to ensure you mortgage application goes smoothly.

If you are in the process of shopping for a new home, consider shopping for a mortgage first. You can receive pre-approval from a mortgage lender before finding your home. This will significantly reduce the stress involved in trying to get approved after finding your dream home.

If you are refinancing your existing mortgage or have already found the home you wish to purchase, organize your documentation before applying. Always return your lenders phone calls promptly and provide any additional documentation as quickly as possible. You should gather your tax returns, pay stubs, purchase contract, the appraisal and survey for your home, your homeowners policy, and bank statements before you apply. This will save you time when the lender requests this paperwork.

Check in with the person processing your application from time to time. Mortgage lenders handle thousands of applications and you dont want yours falling through the cracks; dont make a pest of yourself, just check in from time to time. You can learn more about qualifying for the best mortgage while avoiding common mortgage mistakes by registering for a free mortgage guidebook.