Becoming a home owner is a complex and often daunting process that can be made easier with careful research and analysis. There are plenty of catchy gimmicks and advertisements designed to draw you in; claims of being the best home mortgage lenders, or having the cheapest home loans. But not all mortgage lenders are created equal. To learn how to compare mortgage lenders effectively, the best thing you can do is educate yourself with the ins-and-outs of the mortgage process, the types of mortgages available, and ultimately identify the best home loans for your particular case.

Here are three key points to consider, if you are getting ready to compare mortgage lenders:

Down Payments – What can you afford up front? Three percent, five percent, ten…twenty? Your answer to this question will significantly impact the type of loan you can qualify for and how friendly the terms of the loan will be to your wallet in the long term. While every direct mortgage lender is a little different, typically you will need a down payment of at least 3.5% of the purchase price to qualify. Of course, the more you can you pay as a down-payment, the better mortgage terms you will receive. As you shop around and compare mortgage lenders, consider how significantly the amount of your down payment influences the specific terms of home loan packages from one lender to another.

Credit Score – There are good reasons why understanding your credit score matters as you prepare to compare mortgage lenders. A good credit score can mean the difference between approval and denial for a mortgage, but additionally, not every home lender will weigh the strength of your credit score equally. Be sure to know your credit scores and history before you compare mortgage lenders, and look for differences in how your credit score influences the home loan rates you are quoted. In general, if you have a weaker credit score, the negative impact can be counteracted with a higher down payment, which will improve the chances of your mortgage application being approved. If a lender does not adjust their view of your application with a weak credit score but a higher down payment, it’s a sign that you should continue to compare mortgage lenders.

Pressure – The pushy salesperson is a character that most people are familiar with, in some form or another. As you compare mortgage lenders and conduct research, you should be ready to lock in a rate as soon as you are comfortable with the details. However, if you’re not comfortable with the details of a home loan offer, do not allow yourself to be pressured into accepting terms that do not meet your specific criteria.

Ultimately, there is no perfect formula to consider when you compare mortgage lenders, as everyone’s situation is unique and subject to numerous variables. But once you’ve got your possible list of mortgage lenders, use these three points to guide your comparison and to find the best mortgage lenders for you. Good luck!