Anyone serious about buying a home has seen the recent ads offering low mortgage rates for first time buyers and current homeowners. One reason for this mass of offers is that most financial institutions now understand the economic importance of having home owners as a part of their clientele.

The advertising for low mortgage rates is specifically designed to bring in customers who never thought that they could qualify for a home loan. Who are these customers in demand?

Lenders are going after non traditional borrowers
First time buyers, single buyers, minorities, women and other groups that might have been shut out of the home ownership market in the past. If youre a member of one of these groups you might have received mailings, phone calls, or seminar invitations to give you more information on how to get your own home, and how to do so with low mortgage rates.

Seriously consider low rate offers
If you are thinking of getting a home within a year or two, dont hesitate to take advantage of these offers. It is highly unlikely that mortgages will remain at these low levels for a long time. Also, even if they did remain low, things can easily swing back to the days of the early 90s when only people with excellent credit could get low mortgage rates.

Get started online
You can get started by getting prequalified online. The internet gives you access to many more resources than you can find locally. Look online for low mortgage rates, fill out an easy application and a lender will call you back to let you know if you are eligible for a low rate home loan.

Dont be tempted to take the first offer that comes your way. Shop around, compare and then sign your documents.