Tips on Comparing Mortgage Rates

Understand that all mortgage rates and mortgage companies are not created equal.  Mortgage rates change daily if not hourly and are different from every company and bank.  In addition low mortgage rates do not always mean low closing costs, or vice versa.   

Comparing rates and closing costs from three separate lenders will give you the best opportunity to secure the lowest possible rate and costs.  Experts suggest you make notes of interest rate and closing costs from each lender and ask them to put their rates and closing estimates in writing.

After receiving three quotes you can now decide on the best institution to serve your lending needs.

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