The $8,000 federal tax credit for first-time homebuyers ends Nov. 30. That's the date you must close by, and closing takes time. While the urgency of trying to find and close on a home before the deadline may seem stressful, it doesn't have to be.

Here are some tips from Coldwell Banker Gundaker:

Find a qualified real estate agent — Start by interviewing and selecting a sales associate who understands what you're looking for. A real estate agent will arrange showings and keep track of the properties visited. He or she should also be able to help identify suitable lawyers, mortgage lenders, home inspectors and others who play a role in the process. It is critical that you get a timeline from your real estate agent so that you leave enough time for the sometimes lengthy closing process.

Know before you go — The first step in the home-buying process should always be to have an idea of the type of property one wants to buy. By separating the "must haves" from the "wants," homebuyers can focus on what's really important. Free online tools such as Coldwell Banker On Location (youtube.com/coldwellbanker) and the recently launched mobile application for iPhone and Android devices are available to help consumers quickly and conveniently learn about neighborhoods, view what's on the market and compare home prices in most U.S. markets and 28 countries worldwide.

Get your credit report in order — A sound financial track record and solid credit score can help lock in a home loan and lower interest rates. Lenders today are looking at prospective borrower's credit reports more closely than ever, so it's important to examine one's credit report for mistakes and eradicate any "toxic" debt such as overdue credit-card payments before the home shopping begins. Rectifying mistakes is easy to do but it can be a time-consuming process.

Compile your paperwork — At the same time homebuyers are working to correct or improve their credit report, they should also pull together the documents they will need to provide the lender. These documents include:

— Verification of employment form

— Two most recent paycheck stubs

— Two most recent bank statements

— Copies of the last two W-2 forms received from employer

— Copies of any asset statements including those for retirement accounts, stocks, bonds or mutual funds

— Copy of Social Security card

— If there is a co-applicant on the loan, all of these forms will be required of that person as well.

Get your preapproval — Once the paperwork is in order, it's time to get preapproved for a mortgage. "Preapproval" means that a lender has verified the borrower's credit and other credentials and is committed to making a loan. This is different (and more valuable to sellers) than pre-qualification, which simply gives the borrower an idea of the size of the mortgage he or she might afford without actually committing to a loan.

Shop for the most favorable mortgage option — People can face misunderstandings and even lose their homes if they don't fully understand their mortgages. It's imperative for homebuyers to educate themselves on the risks of the different types of mortgages and select the right one for their family. Early on, shop around for the most favorable mortgage rate and terms. A difference of even half a percentage point can mean a considerable savings over the life of a loan.