When searching for a mortgage, it is essential to compare lender costs such as interest rates and closing fees. It is advisable to shop lenders within a 45-day window to avoid multiple credit inquiries negatively affecting your score. Home buyers typically opt for a 30-year conventional fixed-rate mortgage, but it is important to understand all mortgage options that may better suit their situation. Insured mortgages require minimal down payments while uninsured mortgages require a down payment of at least 20% and come with increased risk for the lender. It is always best to seek professional advice when considering any mortgage decision.