In today's topsy-turvy real estate market, you may wonder if it is possible to locate a good mortgage broker who can truly represent your needs to potential lenders. Maybe you have been scared off by some of the recent news reports regarding falling real estate prices and higher interest rates.

If you have, it is interesting to know that there are also reports of mortgage rates hitting 46-month lows. Thus, don't just think a loan is out of the question for you because of the more widely-spread news reports.

Perhaps you are concerned that the mortgage broker you choose will not be able to work with your current credit scores. Possibly, you are even concerned that the mortgage broker will tell you to forget getting a loan for a home at this time because of everything that has occurred in the real estate markets.

Again, despite what you have heard, the mortgage industry is still there, still doing loans, still alive and well. More importantly, good mortgage brokers with good programs still exist and are there to service you.

So how can you find the right Mortgage Broker?

You'll need to locate mortgage brokers to call and then develop some key questions to ask them.

To locate the mortgage brokers to call, you can do web searches at Google or Yahoo! Or you can call mortgage brokers from the yellow pages of your phone book - although it is probably easier to use the internet. Of course personal referrals are also good. Remember though, just because the broker comes to you from a personal referral, be wise and ask your questions before choosing him. Keep in mind that he worked well for the person who referred him, but it doesn't mean he will work well for you. Each person's financial status is uniquely their own.

Once you have located a few brokers that you would like to interview, then move onto step two: prepare a list of questions that you can ask the potential Mortgage Broker. As you ask your questions, you will see more and more whether or not he will fit your needs.

If he or she doesn't, go ahead and thank him or his for her time, and hang up the phone. Don't waste anymore time talking to that Mortgage Broker.

In addition to any specific questions you already want to ask your potential mortgage broker, here are some questions that you should touch upon as well.

1. What types of lending programs do you currently offer?
2. What type of credit scores will I need in order to fit into your current programs?
3. Are you offering your own in-house loans?
4. What are the current interest rates you are offering?
5. How many discount points are you taking?
6. What are your origination fees?
7. What are all the costs associated with the loan?
8. Can you offer a loan rate lock?
9. Do the loans you are currently offering carry any prepayment penalties?
10. How much time do you normally require to fund a loan?

With a little bit of research and a good interview you should be able to find a mortgage broker who can be a real asset to you.