Within three business days after your application, the mortgage company must give you an estimate of your closing costs. (The closing is the actual settlement of your loan.) You'll also get a statement that shows your estimated monthly payment, the cost of your finance charges, and other facts about your mortgage.

For many home buyers, this waiting period can be nerve-wracking. So stay in touch with your mortgage company, be prepared to answer any questions that might come up -- and remember that mortgage companies are in the business of making loans, not denying them.