HOW TO GET THE BEST MORTGAGE RATE....
SHOP FOR IT!
SHOP... IT'S THAT SIMPLE. Different lenders will offer different terms and charge different fees for a home loan, whether you’re buying or refinancing. That’s why it's important to get quotes from more than one lender, compare your options and ask questions.
Here are some shopping tips…
Tip 1: Make sure you are talking to an experienced Loan Officer and avoid filling out forms online. It's hard to trust online rates due to assumptions.
Tip 2: Get quotes from more than 1 lender
Tip 3: Compare loans on the same day
Because mortgage rates change frequently, it’s best to compare loan programs on the same day so that you can accurately judge cost estimates from several lenders.
Tip 4: Compare all loan terms, not only the mortgage rate
The loan with the lowest mortgage rate may not always be the best choice for you. Rates are important, but you should also consider the overall cost of the loan.
Tip 5: When shopping for a mortgage, don't let multiple lenders pull your credit as this can lower your credit score. Soft credit pulls with all 3 FICO scores are available that will not effect your credit score.