Now that you’ve found your new dream home, where do you start? With a gazillion home lenders and mortgage brokers it’s a challenge. According to the Mortgage Bankers Association, each year first time home buyers borrow over 980 billion dollars in loans. But the question still remains — how do you shop for the best mortgage rate when you have bad credit problems?

With all of today’s conveniences, obtaining a first time homeowner mortgage is really pretty simple. However, there are many factors involved, which can seem confusing if you're a first- time buyer.. To clarify the process for new home buyers the following 11 steps will assist you in shopping for the prime rate you deserve.

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