New home buyers can save thousands on their mortgage, simply by choosing a loan that best balances their current needs and their future ones. But borrowers need a little more than a clear vision of their future to successfully score the perfect loan. Industry experts agree that the best way to avoid being pressured into a costly mortgage is to compare offers from multiple lenders and/or brokers. Before you settle on a loan, make sure you've explored all the options available to you.

Some pointers as you shop for a mortgage:

• Interest rates can change every day, and closing on your home can take a month or more. If you think that rates are in an upward trend, it's important that you ask your lender to lock in your rate. This guarantees you will get that rate on your loan if you are able to close your loan within the lock period you choose, and can potentially save you thousands. Lock periods can be obtained in terms between 15 and 120 days.
  
  
• Make sure you know what shape your credit is in before you talk with a lender. You'll be able to catch any mistakes on your report ahead of time, plus you'll know what type of loan you should be in the market for.
  
  
• Many states offer programs to first-time home buyers that can secure them lower interest rates. You only have one chance to benefit from these programs, so make sure you explore this potential money-saving option.
  
  
• A common mistake new home buyers make is taking a larger mortgage than they actually need. The costs of owning a home can be unpredictable, so your mortgage should not stress your budget to the absolute limit. Try to limit the costs of your home to around 25% of your total income.