Seek that green light; score yourself a loan

credit crunch" would have eased. But prospective home buyers — including those with stable jobs and decent credit — still confront unusually high hurdles to gain approval on their home-loan applications. People in the mortgage industry are extremely hungry for business. But they're also extremely picky who they lend to. The last thing they want are more foreclosures coming back to haunt them," says Blaine Rickford, president of an independent mortgage firm.

Mortgage officers those who take loan applications and deal with the public prepare files on would-be borrowers. Yet no file is ever approved by a bank unless its underwriters give the green light. You never get to meet the underwriters these loan supervisors are off-limits to borrowers. But mortgage officers talk to them directly and can plead your case if they think you're a good bet," says Rickford, who's worked in the mortgage field since 1978.

Develop a positive rapport with your mortgage lender and you're more likely to reach your home-buying goal, says Leo Berard, charter president of the National Association of Exclusive Buyer Agents (www.naeba.org).

"You don't want to torpedo your chances of owning a home because of some financing glitch. Those who win in the mortgage process take a businesslike approach," Berard says. Educate yourself on the basics of mortgages before you apply.

Many home buyers, and particularly novices, are in the dark about mortgages and how lending works. Because they feel ignorant on the topic, they hesitate to pose important questions.

But as Berard says, the basic concepts of mortgage lending aren't so complex that you can't grasp them in a short period of time. Start with the Internet, taking a look at the "mortgage" entry in Wikipedia (www.wikipedia.org), the free online encyclopedia, and its related links. You can also go to the U.S. Department of Housing and Urban Development's Web site at http://www.hud.gov/.

Also, Berard encourages you to stop by your local library to check out a book or two on the topic, such as "Mortgages for Dummies," co-authored by Ray Brown and Eric Tyson.