Follow these steps to help compare lenders and find the best program for your specific situation

• Identify your goals upfront so that you are doing a comparison of similar programs
• Don't focus strictly on the interest rate
• Find out the APR
• Obtain a written copy of the good faith estimate
• Ask about pre payment penalties or other potential lender conditions
• Know your credit score before you start calling lenders
• Ask about their interest rate lock policy
• If the lender is a broker ask them about their yield spread policy
• Have your loan pre-underwritten prior to ordering the appraisal
• Work with a professional who takes time to understand your goals

 

Shop around, we offer free mortgage quotes from up to four local and national lenders to help you find the lowest mortgage rates online

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