What Is The Complete Process Of Obtaining A Loan Mortgage?

Home loans follow three important things as far as you are concerned.  Known as the 3 c's:

Collaterall (the house): is it worth what you are trying to borrow and does it cover the risk of lending you the money if for some reason you cannot pay. To find this, the bank will request you get an appraisal of the property. Always pay for the appraisal yourself. Do not let the bank pay for it... that way if they try to change the conditions of the loan at the last minute you can step away from the table and find another lender fairly quickly.  

Credit:  What is your credit standing? Anything over 720 is no problem, and you can easily keep lenders in line, because there is no reason for you to be turned down as long as the other 2 c's are in line.
Home loans are still fairly painless to gain as long as your credit is above 640... and we are talking median score. In other words the middle score of your three credit reports.

The last c is Capacity, or ability to pay the loan: Have you had the same job, or at least been in the same line of work for the past 2 years? If not, then your rate may be higher.  Look closely at how much debt you have (monthly payments) and add in the expected house payment with insurance and taxes taken out.  
Do not include utilities or cell-phone bills, just those that show on your credit report, like car and credit cards. Then divide your bills by your gross monthly income. This is your debt to income ratio. It needs to be below 40% or 0.40 when you divide. As long as your loan amount is below 80% of what the house is listed as being worth, you credit is good and your debt to income ratio remains low.
You then have strong bargaining power for low rates.