How to Use Shoprate.com to Finalize Your Home Financing Decision

Now it is time to find the right mortgage program and lender for my particular situation. I have done all of my homework utilized the resources offered by Shoprate.com and my last step is to begin the final selection process.

I will go to the homepage and either pick my state or enter my zip code for more localized lending institutions - either way, all lenders are licensed so I am free to select from any that are listed. I will then check rates on multiple programs keeping a careful eye on which lenders have that program available. I will then check out two different term fixed rate programs and a longer term adjustable rate program depending upon how long I plan on being in my residence. I might even select and interest only product to see how they might compare. I will take good notes on which lenders appear to have the more competitive rates for all of the products in which I have interest and narrow down my choice to the top 3 or 4.

I will then click on the finalists website to learn more about them as a lending institution - do they have weekend hours, are they available in the evening, do they have or list references from other consumers who were satisfied with the level of service they received, etc. I will then send out an e-mail to the finalists - which can be done directly from the Shoprate.com website, explaining in great detail my situation and looking for assistance. I would ask for their recommendations for a program they feel would best fit my specific situation. While I wait for responses from the lenders I have selected I would do research on those lenders who I have selected and check with the specific state banking departments to see if they are in good standing and to see if they have any consumer complaints registered against them and, if they do, how they were handled.

I will then ask the lenders for a Good Faith Estimate so I can compare both the rate, APR and the total fees so I can make a highly educated decision on which is the best lender to service my home financing needs.

I know everything I need can be found on Shoprate.com which truly does make mortgage rates easy.