All the turmoil in the mortgage industry has definitely made the process of financing a home seem a little scarier. But the truth is, it doesn't have to be. Although lenders are tightening their belts a bit, being more selective about who they lend to, and more closely evaluating the risk factors involved, they are still lending money. With good credit history, the right documentation and a realistic game plan there are still many financing options available.

The key to obtaining financing for your new home is to be organized and prepared to provide your lender with all the information they need.  A few simple steps can help ease the stress and speed up the process and help get you into your new home.

1. Give your credit a check-up.Monitor your credit report to make sure there are no discrepancies or derogatory items that would prevent you from getting a loan. If you do find something that doesn't belong dispute the item with the appropriate credit bureau.

2. Boost your credit score. Try to keep your credit card balances below 30% of your credit limit. This will reduce your credit risk and increase your FICO score.

3. Save for a down payment. Start stashing away some extra money to help cover closing costs and down payment.

4. Get your paperwork in order. Most lenders are going to want to see proof of income and assets. Make sure you have your last 2 months bank statements, your last two pay stubs and your last 2 years tax returns readily available.

5. Plan a realistic budget. Lenders want to know that you are going to be able to make the payments on your loan. Your mortgage payment ideally should only be about 25% of your monthly household income. Any more than that and you might be putting a financial strain on yourself.

6. Don't make any major purchases. One of the biggest mistakes people make is going out and making a major purchase right before closing on their home. Wait until after your loan has funded to make any major purchases such as appliances, furniture, new car, etc.

7. Get pre-qualified.Before you even start looking for a home, talk to a lender and get pre-qualified. They will let you know up front just how much home you can afford to finance. They can also help you make sure you have all the necessary documentation ready when it comes time to finance.