If you were to pick one key rule to follow when shopping for a mortgage loan, that rule would be: Think credit first.

One of the first things the mortgage banker or broker will do is pull a copy of your credit report. Lenders take a close look at your credit history to determine whether to take the risk of lending you money.

“More than ever, lenders and underwriters have been looking at the credit of potential borrowers, and that will affect: a) their ability to get a mortgage and b) the price at which they do,” said Steve O’Connor, senior director of residential finance at the Mortgage Bankers Association of America.

Even before you go house hunting, it would be wise to obtain a copy of your credit report. This way there will be no surprises when you’re mortgage shopping, and you will have the time you need to correct any errors in the report.