The best time to look for a mortgage is before you look for a house. This way you'll know exactly the amount of money you can borrow. You can use the calculators on this site to help you determine these numbers as well as your estimated monthly payments. Get pre-approved for a mortgage before shopping for a home and you'll maximize your negotiating power. It's free and will take only a matter of minutes to get a decision, and there's no obligation until you want to reserve your funds.