Don't go with the first quote you get from a mortgage broker or bank.

You could save hundreds of dollars a month on your payments -- and thousands in out-of-pocket expenses -- by getting at least three to five quotes.

Even if you wind up going with the first offer, you'll have the satisfaction of knowing that you got the best possible deal.

And what is that?

For most borrowers, it's the loan with the lowest rate and fees of $1,500 or less. Because rates are so low, you'll probably be able to get a great deal on a 30-year, fixed-rate mortgage.

Interest rates on traditional fixed-rate loans are low enough that you don't need to take a risk with adjustable-rate or interest-only loans just to reduce the monthly payments for a few years.

You can go with a plain vanilla mortgage that's easy to understand and never puts your home in jeopardy with higher payments down the road. You know exactly what your loan will cost until it's paid off or refinanced.

A good way to get started is to use our extensive database of mortgage rates and fees to compare the best deals from dozens of lenders in your area.

Then take a look at some other smart moves for getting the best deal on a mortgage.