You don’t have to walk into a bank right away to begin Compare Mortgage Lenders and comparing loans – a great place to start is online!

Check traditional banks, but don’t overestimate the power of local banks, credit unions, and online lenders. Take notes, because in many cases they’re motivated to bring in new clients by offering low, discounted rates you won’t see anywhere else. Their websites should be updated with the latest deals.

However, don’t choose a lender based on one number alone. A low-interest rate may seem enticing but doesn’t necessarily indicate the number of fees involved on the closing date.

Now that you’ve got a list going, it’s time to set up some meetings! Try to get at least 3 in-person meetings with lenders that you’re serious about to get a sense of what your costs will be and how to compare them.

It’s best to view these meetings as interviews, as you will have a relationship with these providers on a long-term basis.

Have a list of detailed questions handy before the meeting – any question that may not have been addressed on their website.

How much of a down payment do they require?

Will you need to pay a PMI (Private Mortgage Insurance)?

Are their fees “rolled” into the total cost of the mortgage?

Check every term in the contract to make sure there’s nothing hidden among numbers. Reading and understanding fine print can help you save hundreds or even thousands of dollars down the line.

Whether good numbers are your game or you prefer customer service above all else, you must commit to a trusted lender.

They are ideally staffed by professionals who will walk you through the process and who are available for questions and concerns.

Providers who are short or impatient with you, do not get back to you in a timely manner or try to “push” you into making a decision are simply not worth making partnerships with.  

Instead, feel free to take your time and set up as many meetings as you can within your financing timeframe to compare options.