Also, call a few other lenders to get similar information from them, so that you can compare rates and fees from one lender to another. Choose the lender that you feel most comfortable with, keeping in mind the fees and rates that you've acquired from each of them. Next, ask for a loan preapproval letter so that you'll know how much you qualify to borrow based on your income, assets, and monthly bills. This preapproval letter will help your buying transaction go more smoothly because sellers will know you are serious and ready to buy.