Buying a home is one of the biggest decisions you’ll ever make. For that reason, it’s critical that you choose the right mortgage lender. Making a mistake with this detail could have long lasting repercussions that bring both personal and financial stress into your life.

While there’s no right or wrong way to compare mortgage lenders, there are some basic steps anyone can take to ensure that they make the right decision at the right time.

Here’s what you need to do:

1. Make a List of Lenders

There are hundreds upon hundreds of mortgage lenders to choose from. From small, local banks to large, national banks, there’s no shortage of options.

Begin your search with a list of five or more lenders that pique your interest. This is a good jumping-off point, but you always have the flexibility to add more lenders to your list in the future.

2. Focus on These Details

You can’t simply say that you’re comparing mortgage lenders. You must do so in the appropriate manner.

Here are the types of details that deserve your attention:

Available terms
Interest rate
Customer service

For example, you may be interested in a 20 or 30 year mortgage. You want to compare lenders that offer both of these types of loans.

As you compare these basic details, you’ll come to find that others are just as important.

3. Track Everything

It pays to be organized as you compare mortgage lenders. This allows you to efficiently compare lenders and available products as you inch toward buying your home.

A basic spreadsheet is all you need to track the details above, as well as any others that you consider important to the decision making process.

If you simply try to remember what you found along the way, you’re likely to make a mistake.

Ask Questions

If you have any questions about a particular lender or product, reach out for clarification. This is better than the alternative of spending time trying to find an answer (or not searching at all).

When asking questions, pay attention to how you’re treated. If the customer service department doesn’t treat you well, it could be a sign of what’s to come if you decide to borrow from them in the future.